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An opportunity emerged in the middle of a project life cycle. Which of the following is the BEST action for the project manager to take?
The project manager should exploit the risk after an opportunity emerged in the middle of a project life cycle. Exploit is a risk response strategy that aims to increase the probability and/or impact of a positive risk or opportunity. Exploit can involve actions such as allocating more resources, changing the scope or schedule, or adding more features or benefits to the project deliverables. Exploit can help to ensure that the opportunity is realized and that the project gains more value or advantage from it3
Due to budgetary and time constraints, a PM scheduled a meeting with all stakeholders during the planning phase to review the requirements and come to an agreement on the minimum viable product that would be acceptable. Which of the following would be used to document this input?
The project manager should use the project management plan to document the input from the stakeholders on the minimum viable product that would be acceptable for the project. The project management plan is a document that describes how the project will be executed, monitored, controlled, and closed. It usually includes information such as scope statement, work breakdown structure (WBS), schedule baseline, cost baseline, quality plan, risk plan, communication plan, stakeholder plan, and change management plan. The project management plan can help to define and communicate the project requirements, deliverables, assumptions, constraints, and expectations to all stakeholders involved in the project.
The project management plan would be used to document the input obtained from stakeholders during the meeting to review the requirements and agree on the minimum viable product. The project management plan is a comprehensive document that outlines the approach, scope, schedule, budget, quality, resources, and communication for a project. The document is updated throughout the project lifecycle and serves as a guide for project execution, monitoring, and control. References: CompTIA Project+ Study Guide, Chapter 3: Project Integration Management, Objective 3.3: Identify the components of the project management plan.
Which of the following criteria would favor using the agile methodology to manage an upcoming project?
Multiple undefined tasks would favor using the agile methodology to manage an upcoming project. Agile methodology is a project management framework that breaks projects down into several dynamic phases, commonly known as sprints. Agile methodology is an iterative and adaptive approach that allows teams to respond to changing requirements and customer feedback quickly and effectively. Agile methodology is suitable for projects that have multiple undefined tasks, as it enables teams to prioritize and deliver the most valuable features first, and refine and improve them over time based on user input and testing12