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NEW QUESTION 31
An element of the project scope statement is:

  • A. A stakeholder list.
  • B. High-level risks.
  • C. A summary budget
  • D. Acceptance criteria.

Answer: D

 

NEW QUESTION 32
In which Project Management Process Group is the project charter developed?

  • A. Executing
  • B. Planning
  • C. Monitoring and Controlling
  • D. Initiating

Answer: D

Explanation:
Explanation/Reference:
Explanation:
Initiating Process Group. Those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.
Process: 4.1. Develop Project Charter
Definition: The process of developing a document that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
Key Benefit: The key benefit of this process is a well-defined project start and project boundaries, creation of a formal record of the project, and a direct way for senior management to formally accept and commit to the project.
Inputs
1. Project statement of work
2. Business case
3. Agreements
4. Enterprise environmental factors
5. Organizational process assets
Tools & Techniques
1. Expert judgment
2. Facilitation techniques
Outputs
1. Project charter

 

NEW QUESTION 33
A regression line is used to estimate:

  • A. How a change to the independent variable influences the value of the dependent variable.
  • B. The central tendency, dispersion, and shape of a statistical distribution.
  • C. Whether or not a process is stable or has predictable performance.
  • D. The upper and lower specification limits on a control chart.

Answer: A

Explanation:
Section: Volume A
Explanation:
Scatter Diagram. A correlation chart that uses a regression line to explain or to predict how the change in an independent variable will change a dependent variable.

 

NEW QUESTION 34
The probability and impact matrix is primarily used to:

  • A. Develop a risk register for risk planning.
  • B. Evaluate each risk's importance and priority during Perform Qualitative Risk Analysis.
  • C. Quantify risk issues for trends during a quality audit.
  • D. Define risk and compare impacts during Perform Quantitative Risk Analysis.

Answer: B

Explanation:
Section: Volume E
Explanation:
Probability and impact matrix. A probability and impact matrix is a grid for mapping the probability of each risk occurrence and its impact on project objectives if that risk occurs. Risks are prioritized according to their potential implications for having an effect on the project's objectives. A typical approach to prioritizing risks is to use a look-up table or a probability and impact matrix. The specific combinations of probability and impact that lead to a risk being rated as "high," "moderate," or "low" importance are usually set by the organization.
Process: 11.3 Perform Qualitative Risk Analysis
Definition: The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
Key Benefit: The key benefit of this process is that it enables project managers to reduce the level of uncertainty and to focus on high-priority risks.
Inputs
1. Risk management plan
2. Scope baseline
3. Risk register
4. Enterprise environmental factors
5. Organizational process assets
Tools & Techniques
Risk probability and impact assessment
Probability and impact matrix
Risk data quality assessment
Risk categorization
Risk urgency assessment
Expert judgment
Outputs
Project documents updates

 

NEW QUESTION 35
Which of the following tasks is related to the Perform Qualitative Risk Analysis process?

  • A. Identify the project risks and assign a probability of occurrence
  • B. Perform a sensitivity analysis to determine which risk has the most potential for impacting the project
  • C. Analyze the effect of identified project risks as numerical data
  • D. Prioritize each protect risk and assign the probability of occurrence and impact for each one

Answer: D

Explanation:
Section: Volume E
Explanation/Reference: https://pmbasics101.com/how-to-perform-qualitative-risk-analysis/

 

NEW QUESTION 36
......

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