In this era of rapid development of information technology, DumpsReview L4M2 Flexible Learning Mode just questions provided by one of them, Online Test Engine of L4M2: Defining Business Needs exam cram sheet supports Windows/ Mac / Android / iOS, etc, It is the best choice for you to pass L4M2 Flexible Learning Mode - Defining Business Needs exam easily, CIPS L4M2 Test Questions We have 7/24 hours customer service, if you have any questions, please contact us at any time.

He is responsible for the integration and collaborative workflows between https://www.dumpsreview.com/L4M2-exam-dumps-review.html designers and developers using the Adobe Flash Platform and between Adobe's Flash tools, Flash Professional, Flash Catalyst, and Flash Builder.

Download L4M2 Exam Dumps

This apparent non sequitur of learning to Flexible L4M2 Learning Mode manipulate data before you learn how to gather it actually makes sense, Create dynamic routes, My personal projects have Valid L4M2 Test Vce always been important to me since I can do the projects I feel like working with.

This book's content will be exceptionally helpful to both practitioners Latest L4M2 Exam Vce and students in all areas of supply chain management and strategy, including participants in leading certification programs.

In this era of rapid development of information technology, DumpsReview just questions provided by one of them, Online Test Engine of L4M2: Defining Business Needs exam cram sheet supports Windows/ Mac / Android / iOS, etc.

Pass Guaranteed Quiz CIPS - Useful L4M2 - Defining Business Needs Test Questions

It is the best choice for you to pass Defining Business Needs exam easily, We have 7/24 hours customer service, if you have any questions, please contact us at any time, The whole compilation process of the L4M2 study materials is normative.

We will send CIPS Level 4 Diploma in Procurement and Supply L4M2 questions and answers to your email in 10 minutes in our working time and no less than 12 hours in our off time, We do not tolerate any small mistake.

Continuous improvement is a good thing, If you have any question about L4M2 exam software or other exam materials, or any problem about how to purchase our products, you can contact our online customer service directly.

Just come to our official website and click on the corresponding website link of the L4M2 exam materials, then seek the information you need, the test samples are easy to obtain.

On the other hand, if you choose to use the software version, you can download our L4M2 exam prep only for Windows system, Generally, IT certification exams are used to test the examinee's L4M2 Test Questions related IT professional knowledge and experience and it is not easy pass these exams.

Free PDF Quiz High-quality CIPS - L4M2 - Defining Business Needs Test Questions

Download Defining Business Needs Exam Dumps

NEW QUESTION 25
A CPO is making a business case for acquiring a new computer system. He has set out objective, generated options, cost and benefit of each option and implementation plan. Which of the following elements should be included in the business case?

• A. Contract management
• B. Risk assessment
• C. Invitation to tender
• D. Operation management

Answer: B

Explanation:
Before a project commences (either capital purchase or switching to a new supplier), a business case should be developed. The business case outlines the why, what, how, and who necessary to decide if it is worthwhile continuing a project.
Basically, the following criteria can be applied to the assessment of a business case:
1. Objectives
This part describes why you are doing the project. The business objective answers the following questions:
- What is your goal?
- What is needed to overcome the problem?
- How will the project support the business strategy?
2. Option identification and selection
Identify the potential solutions to the problem and describe them in enough detail for the reader to understand.
For instance, if the business case and proposed solution makes use of technology, make sure to explain how the technology is used and define the terms used in a glossary. Since most problems have multiple solutions an option appraisal is often needed. This will explore the potential solutions and recommend the best option.
When writing the initial business case the option appraisal is likely to contain a long list of options and will cover many possibilities. As the project continues a number of options will be rejected. The final business case may contain three to five options - the short list - that includes a do nothing or benchmark option.
3. Benefits and limitations
The benefits and limitations section describes the financial and non-financial benefits in turn. The purpose is to explain why you need a project.
For instance, to:
- Improve quality
- Save costs through efficiencies
- Reduce working capital
- Generate revenue
- Remain competitive
- Improve customer service
- Align to corporate strategy
The business case should also include any limitations since these present potential risk to the pro-ject.
4. Risk management
The risk assessment summarizes the significant project risks and opportunities and how they are managed. The risks included should cover those that could arise from your project or the organiza-tion's ability to deliver change.
This section answers the following questions:
- What risks are involved?
- What are the consequences of a risk happening?
- What opportunities may emerge?
- What plans are in place to deal with the risks?
- Every project should include a risk log.
When writing a business case, make sure this is included as it explains how risk and opportunity are managed.
5. Implementation plan
The outline plan provides a summary of the main activities and overall timescale - project schedule - for the project.
Ideally, the project should be divided into stages with key decisions preceding each stage. Use this section to answer the following questions:
- What is required?
- How is it done?
- Who does what?
- When will things happen?
This outline plan lists the major deliverables and includes a brief project description plus accountabilities for each activity.
In the scenario, the CPO has set out objective, generated options, cost and benefit of each option and implementation plan. In order to make the business case more compelling, he should reinforce it with risk management.
Reference:
LO 1, AC 1.3

NEW QUESTION 26
What is the output of regression analysis?

• A. Forecasting process
• B. Line of best fit
• C. Independent variables
• D. Dependent variables

Answer: B

Explanation:
Regression refers to a quantitative measure of the relationship between one or more independent variables and a resulting dependent variable. Regression is of use to professionals in a wide range of fields from science and public service to financial analysis.
To perform a regression analysis, a statistician collects a set of data points, each including a com-plete set of dependent and independent variables. For example, the dependent variable could be a firm's stock price and the independent variables could be the Standard and Poor's 500 index and the national unemployment rate, assuming that the stock is not listed in the S&P 500. The sample set could be each of these three data sets for the past 20 years.
On a chart, these data points would appear as scatter plot, a set of points that may or may not appear to be organized along any line. If a linear pattern is apparent, it may be possible to sketch a line of best fit that minimizes the distance of those points from that line. If no organizing axis is visually apparent, regression analysis can generate a line based on the least squares method. This method builds the line which minimizes the squared distance of each point from the line of best fit.
Line of best fit is one of the most important outputs of regression analysis.
Reference:
- CIPS study guide page 99-100
- Line Of Best Fit (investopedia.com)
LO 2, AC 2.3

NEW QUESTION 27
To improve the productivity, Plantation Ltd is planning to purchase a tractor, which it has never bought before. The project must be quick to catch up with the next growing season. Leanne, a jun-ior procurement staff at the company, assumes that she could skip market analysis stage to save time. Is this assumption reasonable?

• A. Yes, the company has extensive experience in purchasing tractor
• B. Yes, Leanne just needs to purchase the tractor from her friend's company
• C. No, market analysis will inform the company of the pricing as well as latest technology trends
• D. No, the company assesses supplier's performance solely based on market analysis

Answer: C

Explanation:
Market analysis is a stage in CIPS Procurement and Supply Cycle. This stage informs the purchaser about the number of suppliers, the average pricing, and product trends. Even urgent purchase should undergo market analysis. Without undertaking this stage, the buying organisation may not purchase the right product, or they may purchase at higher price.
Reference:
LO 2, AC 2.1

NEW QUESTION 28
A procurement manager includes provision on recovery from natural disaster into a through-life specification. Some suppliers suppose that provision is unnecessary. Is procurement manager's action justified?

• A. Yes, because natural disaster may cause risks in organisation's supply chain
• B. Yes, because the regulations require contract to have recovery provision
• C. No, because with current technology, natural disaster can't disrupt supply chain.
• D. No, because this provision will incur unnecessary cost to supplier

Answer: A

Explanation:
Risks like natural disasters - fire, flood, or weather-related event, and cyber-attacks can disrupt the supply chain seriously. Threats and disruptions mean a loss of revenue and higher costs, which leads to a drop in profitability. And businesses can't rely on insurance alone because it doesn't cover all the costs and the customers who move to the competition. Risks must be identified early and supplier should have a plan that ensures continuous operations during disasters.
There are several steps many companies must follow to develop a solid business continuity plan. They include:
- Business Impact Analysis: Here, the business will identify functions and related resources that are time-sensitive. (More on this below.)
- Recovery: In this portion, the business must identify and implement steps to recover critical business functions.
- Organization: A continuity team must be created. This team will devise a plan to manage the disruption.
- Training: The continuity team must be trained and tested. Members of the team should also complete exercises that go over the plan and strategies.
Reference:
LO 3, AC 3.2

NEW QUESTION 29
ABC Ltd has enormous investment in facilities and machinery. It also employs skilled workforce. To be profitable, the company has to produce at massive quantity. Which sector does ABC Ltd belong to?

• A. Manufacturing
• B. Construction
• C. Finance
• D. Agriculture
• E. Retail

Answer: A

Explanation:
In the scenario, ABC Ltd has the following characteristics:
- Large investment in facilities and machinery
- Access to skilled workforce
- Mass production.
This company is a manufacturer. Manufacturing is an industry that makes products from raw ma-terials by the use of manual labour or machinery and that is usually carried out systematically with a division of labour.
Manufacturing requires investment in machinery and access to a suitably skilled workforce as well as materials and components.
Reference:
- CIPS study guide page 74-76
- manufacturing | Definition, Types, & Facts | Britannica
LO 2, AC 2.1

NEW QUESTION 30
......