1 Talk with team members to understand implication of the change 2 Communicate

1 talk with team members to understand implication of

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1 Talk with team members to understand implication of the change 2 Communicate the change to Management to get their inputs 3 Open up a Change Control 4 Do sizing for the change and communicate to customer Correct Choice: 3 Justification: Usually, anytime there is a potential request for a change from a customer, 1. Understand what functionality was requested - Talk with team-members to access the implication of the change 2. Open up a Change Control if there is a formal Change Control Mechanism 3. Communicate the change to Management, and inform Customer about the impact of the change (e.g. increase in sizing, schedule etc.) 4. If change is accepted, go ahead and implement the changes Please note: If there is a confirmed change request (e.g. contractual or government requirements as mentioned above), the first thing to do is to open up a change control. Reference: pmstudy.com notes as mentioned above Question : There are three projects: * Project A has an investment of $ 3,000,000 and NPV of $ 300,000 * Project B has an investment of $ 2,000,000 payback period of 2 years and NPV of $ 200,000 * Project B has an investment of $ 1,000,000 payback period of 2 years and NPV of $ 100,000 Which project should be selected if Net Present Value criteria is used for selection? 1 Project A 2 Project B 3 Project C 4 Project A, B or C can be selected because all of them have equal value Correct Choice: 1 Justification: Project A has highest NPV of $ 300,000 - hence it is selected. Please note that the investment amount is already taken into acoount in the NPV calculation, so amount invested will not impact selection criteria of the project.
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Reference: pmstudy.com notes as mentioned above Question : All the following statements related to communications skills and general management skills are accurate EXCEPT: 1 General management skills are a subset of communication skills 2 General management skills related to communications ensure that right persons get the right information at the right time 3 General management skills include managing stakeholder requirements 4 Communication skills are used to exchange information Correct Choice: 1 Justification: Communication skills are a subset of general management skills Reference: PMBOK Third Edition (2004), Page Number: 229 Question : When developing the project charter and subsequent project documentation, any and all of the assets that are used to influence the project`s success are drawn from 1 Project Plan 2 Enterprise Environmental factors 3 Organizational process assets 4 Lessons Learned documentation Correct Choice: 3 Justification: When developing the project charter and subsequent project documentation, any and all of the assets that are used to influence the project`s success can be drawn from organizational process assets. Reference: PMBOK Third Edition (2004), Page Number: 84 Question : Which of the following statements best depicts Arrow Diagramming Method (ADM): 1 Allow for non-sequential activities like looks or conditional branches.
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