An organization is kick-starting a project in an emerging market where regulations will rapidly and continuously change during its life cycle. The project sponsor asks the project manager for a budget forecast. What tool or technique should the project manager use to provide this?
Monte Carlo analysis
After a risk review, the project manager notes an increase in impact for one of the financial risks. What should the project manager do next?
Change the risk trigger in the risk management plan and inform the risk owner.
Communicate the change in risk exposure to the project team members.
Reevaluate the risk exposure and verify that risk response actions are still effective.
Request extra funds from the sponsor to increase the risk contingency reserves
During project closure, the project manager finds it difficult to obtain successful project completion feedback. Some stakeholders disagree with the project's success criteria and have been frustrated with the project from the beginning. To what should the project manager refer to address these concerns?
Quality management plan
During the last few days of an open request for proposal (RFP), there are still many unanswered questions from vendors. The timely award of the contract is on the project's critical path. The project manager is concerned that the award of contract will be delayed. What immediate action should the project manager take?
Inform stakeholders of the delay.
Seek advice from the procurement expert.
Request resources to accelerate the work.
Escalate the risk to the project sponsor.
A project has been stopped during the execution phase because the construction methods are not incompliance with environmental regulations. The project manager was not aware of the environmental requirements of the project and now needs advice on how to deal with environmental compliance in future projects. What should the project manager do to avoid a similar situation in future projects?
Plan to complete regulatory work within budget and on schedule.
Collect project requirements during the initiation phase in every project.
Update the schedule every two weeks during the execution phase
Use expert judgment when dealing with environmental requirements.
Page 1 of 6
This content is neither created nor endorsed by Google.
Terms of Service