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.
Which of the activities below would provide final assurance of a project?
SIMULATION A financial services company is launching a new banking product for which the sponsors have set a challenging timeline for an initial launch. The stakeholders have provided a list of conflicting requirements to be included in the new product design and build. The project manager has decided to deliver the project in an iterative life cycle due to the time constraints. ee the Explanation for both Questions PDF 25/26 solutions in detail: Explanation: Part A: State two reasons why an iterative approach would benefit solutions development in this scenario. Faster delivery of prioritized features. Flexibility to adapt to evolving stakeholder requirements. Part B: Explain three requirement prioritization approaches the project team could focus on to meet the deadline in this scenario. MoSCoW Method: Categorizes requirements as "Must Have," "Should Have," "Could Have," and "Won’t Have," focusing on essential features. Cost -Benefit Analysis: Focuses on implementing high-value, low-cost features first. Value -Risk Matrix: Balances high -value requirements with low risk to ensure a feasible and impactful scope. Iterative approaches allow for incremental delivery and continuous stakeholder feedback, which is essential for resolving conflicting requirements within tight timelines. Prioritization techniques ensure limited resources are used effectively. Reference: Agile Practice Guide and PMBOK Guide (Requirements and Iterative Planning).
SIMULATION What are two benefits of governance in risk and issue management? Explanation: ee the Explanation solutions in detail: Improved Decision -Making: Governance ensures a structured approach to identifying, assessing, and mitigating risks and issues. With standardized frameworks and processes in place, decision -makers have reliable data to make informed and timely decisions. For example, using a centralized risk register ensures all risks are visible, allowing for prioritization based on impact and probability. Accountability and Oversight: Governance establishes clear roles and responsibilities for managing risks and issues. This fosters transparency and ensures that risks and issues are addressed by the appropriate individuals or teams within the project. It also enables effective monitoring and reporting, ensuring that all stakeholders are aware of potential threats and mitigation plans. Questions PDF 26/26
