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NEW QUESTION: 1
A project manager works with a global virtual team. The team is facing difficulty in communicating with each other and often misses important messages. This difficulty leads to missed deadlines.
What should the project manager do to enhance project team effectiveness?
A. Schedule a communications control board meeting
B. Initiate daily communication of project progress
C. Identify the root cause of communication issues
D. Implement team colocation to improve communication.
Answer: C
NEW QUESTION: 2
You work as a project manager for HRM Inc. Which of the following techniques will you use to determine whether it would be more cost effective to produce a product or service in-house or from an outside vendor?
A. Make-or-buy analysis
B. What-if scenario analysis
C. Risk analysis
D. Checklist analysis
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Answer option B is correct.
A make-or-buy analysis is a technique used to determine whether it would be more cost effective to produce a product or service in-house or from an outside vendor.
A make-or-buy analysis is used to verify whether a particular work can best be accomplished by the project team or must be purchased from outside sources. The budget constraints can influence the make-or-buy decisions. A make-or-buy analysis must consider all related costs; both direct and indirect support costs.
Answer option C is incorrect. Risk analysis is the science of risks and their probability and evaluation in a business or a process. It is an important factor in security enhancement and prevention in a system. Risk analysis should be performed as part of the risk management process for each project. The outcome of the risk analysis would be the creation or review of the risk register to identify and quantify risk elements to the project and their potential impact.
Risk analysis includes the following three types of analysis:
Risk assessment determines money, time, and effort needed for providing protection.
Business impact analysis identifies assets to be protected.
Threat analysis determines factors against which protection should be provided.
Answer option A is incorrect. The checklist analysis approach is a risk identification process. It is an organized approach built on the past knowledge incorporated in checklist questions. Checklist analysis is used for high-level or comprehensive analysis, as well as for root cause analysis. It is relevant to any activity or system, including equipment issues and human factors issues and is generally performed by an individual trained to understand the checklist questions. Checklist analysis is sometimes performed by a small group, not necessarily risk analysis experts.
Answer option D is incorrect. What-if scenario analysis explains the analysis of the question "What if the situation represented by scenario 'X' happens?". This What-If Scenario Analysis shortly named as WISA. A schedule network analysis is performed using the schedule to compute the different scenarios, such as extending specific engineering durations, or delaying a major component delivery. Businesses use what-if scenarios to determine the effect different costs or investments have on profit and other financial indicators.
Reference: "Project Management Body of Knowledge (PMBOK Guide), Fifth edition" Chapter: Procurement and Project Integration Objective: Make vs. Buy Analysis
NEW QUESTION: 3
A. Option D
B. Option A
C. Option C
D. Option B
Answer: A