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NEW QUESTION # 17
Select the correct options from the drop-down lists:
Answer:
Explanation:
Explanation:
Work is completed on time.
The skills required.
Ensuring work is completed on time is critical to effective resource management, as it ensures the project meets its deadlines.
NEW QUESTION # 18
Which of the following statements best describes the purpose of an integrated project management plan?
Answer: B
Explanation:
Detailed Explanation:
* Purpose of the Plan:It provides a comprehensive roadmap for executing, monitoring, and controlling the project.
* Why Other Options Are Incorrect:
* A: Integrated plans are not limited to linear life cycles.
* B: Sponsors use it but do not manage it.
* C: Plans can evolve to reflect project changes.
NEW QUESTION # 19
Answer:
Explanation:
Explanation:
Directive
Democratic
Detailed Explanation:
* Directive Leadership:In crises requiring urgent attention, a directive approach ensures quick decision- making and compliance. It allows the leader to control processes to restore stability effectively.
NEW QUESTION # 20
You are the project manager of a promotional campaign project that's currently in the development phase.
The project sponsor is concerned about the project's financial performance and has asked you to send them an update report.
Which of the three following reports could be used to highlight the project's current financial position?
* Business case.
* Cash flow.
* Benefits forecast.
* Actual costs versus forecasted costs.
* Investment appraisal.
* Earned value analysis.
Answer: B
Explanation:
The correct reports to highlight the project's current financial position are:
* Cash Flow (2):
* Tracks the inflow and outflow of funds during the project, providing a real-time snapshot of liquidity.
* This is critical for understanding whether the project is financially stable at any given point.
* Actual Costs vs. Forecasted Costs (4):
* Compares what has been spent so far to the planned or forecasted budget.
* Highlights any deviations from the expected financial performance, such as overspending or cost savings.
* Earned Value Analysis (6):
* Combines cost, schedule, and scope to measure project performance and progress.
* Provides insights into cost variances (difference between planned and actual costs) and schedule performance.
Why not the other options?
* Business Case (1):The business case focuses on the initial justification for the project, not real-time financial tracking.
* Benefits Forecast (3):Focuses on future benefits, not current financial performance.
* Investment Appraisal (5):Evaluates long-term financial viability, not ongoing financial performance.
NEW QUESTION # 21
You are appointed as project manager on a major project that started several months earlier. The project has many diverse stakeholders, and you discover that a stakeholder communications planhas not been completed.
State two possible negative effects of not having an effective stakeholder communications plan for the project:
Answer:
Explanation:
See the Explanation for both solutions in detail:
Explanation:
* Misaligned stakeholder expectations leading to conflicts or dissatisfaction.
* Delays in decision-making due to lack of timely and accurate communication.
Detailed Explanation:
* Misaligned Stakeholder Expectations:
* Without a clear communication plan, stakeholders may have unrealistic or conflicting expectations about the project's progress, outcomes, or deliverables.
* This can lead to dissatisfaction, loss of trust, and conflicts that derail project progress and require additional time to resolve.
* Delays in Decision-Making:
* A stakeholder communications plan ensures that stakeholders are informed of key decisions, updates, and progress in a timely manner.
* Without it, critical information may not reach the right stakeholders at the right time, causing delays in approvals, problem resolution, or adjustments to the project scope or timeline.
Additional Insights:
* Impact on Project Schedule:A lack of communication increases the likelihood of missed deadlines due to unclear priorities or delayed approvals.
* Impact on Resource Allocation:Stakeholders may not provide necessary resources or support without regular updates, leading to resource shortages or inefficiencies.
* Mitigation:Develop a stakeholder communication plan immediately, including stakeholder mapping, preferred communication channels, and key milestones for updates.
NEW QUESTION # 22
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