A project team has identified a risk and wants to accept it as an opportunity to finish a project earlier than planned. The project manager realizes that the sponsor may not accept the risk since the sponsor is risk averse.
What should the project manager do?
A. Create a contingency reserve to cover the risk in order to ensure that the risk will be accepted.
B. Conduct a Monte Carlo analysis to determine if the team will complete the project early.
C. Explain to the sponsor that this is a nonevent type of risk and it will be fine to accept it.
D. Convince the sponsor that this will cost less, ultimately resulting in more profit for the sponsor.
For some time now, doubts have been raised about who is responsible for delivering a key benefit of a project. What should the project manager do next?
A. Meet with the stakeholders involved to clearly define their roles and responsibilities with regard to the benefit.
B. Understand the context of the situation and escalate the problem to the steering committee.
C. Document the risk in the risk register and generate the risk responses and their respective associated plans.
D. Meet with the customer to obtain consensus with the recipient of the benefit and determine a means to deliver the benefit.
The sponsor of a newly formed agile project is struggling to understand the scope and to determine when critical product features will be ready to use. What should the project manager do?
A. Move the team's kanban board to a more visible place to improve the communication with key stakeholders.
B. Create a detailed project management plan with all planned releases and the tasks needed to deliver them.
C. Establish the project vision, break down the mam features backlog, prioritize, and create an overall release plan.
D. Invite the stakeholder to the project's daily meetings, providing better visibility on what the team is working on.
A risk was raised during the initiation of a project. The supplier discontinued software support for one of the project's required inputs. The project manager planned a reserve budget to allow the project to continue in the event of this occurrence.
What should the project manager do?
A. Tell the project team to stop work, as software support will be canceled and the project cannot continue.
B. Advise the supplier that the sponsor will pay for software support as previously planned.
C. Ask the supplier to continue providing software support until the end of the project.
D. Inform the sponsor that the risk has been realized and that a decision has to be made for the project to continue.
A few key team members recently left the project team. The remaining members took time to understand the details and found it difficult to make progress. As a result, the project schedule is seriously delayed. What should the project manager do?
A. Request additional resources to be incorporated to the project team.
B. Observe the project team and give them time to catch up before escalating.
C. Escalate to the project sponsor and seek alternatives to resolve the issue.
D. Review the issues and adjust the project plan to give a realistic schedule.
A project is in the middle of the fifth iteration. Due to a sudden slump in the economy, the company recorded a drastic reduction in revenue. The strategic direction was to implement cost-reduction measures immediately. What should the project manager do next?
A. Continue the current sprint without interruption and address priorities in the upcoming product backlog grooming sessions.
B. Meet with the sponsor for guidance on the best path forward before executing sprints.
C. Allow the project team to decide on the best path forward for the current sprint.
D. Schedule a meeting with the product owner, discuss priorities and decide if anything from the backlog can be eliminated, based on current constraints.
A customer support team has planned short, iterative cycles for working on customer-reported issues. Recently, there was a surge of high-priority issues that disrupted the original plan, and the team's manager is finding it difficult to manage the progress.
Which approach should the project manager suggest using?
A. Agile Scrum approach
B. Agile Kanban approach
C. Spiral approach
D. Rapid application development approach
A project that has to be delivered by the targeted date has been delayed due to an unforeseen risk occurrence. How should the project manager compress the project to ensure the completion date is not affected?
A. Add more project resources
B. Fast-track the project
C. Reduce the project scope
D. Increase the project cost
A client's company announces a reorganization, which includes changes in the senior management involved in the project. The new project sponsor is asking to put the project on hold until they review the scope. What should the project manager do next?
A. Wait for a new project scope from the new project sponsor
B. Discuss the requirements and update the project management plan with the new sponsor
C. Discuss the issue with the project team and update the project management plan
D. Amend the risk register and provide suggested mitigation strategies
An experienced project manager is working on a complex hybrid project that has several dependencies with other projects. How should the project manager reduce the risk related to those external dependencies?
A. Assess consolidated project plans for dependencies, gaps, and continued business value
B. Delegate the review of dependencies to the project sponsor and resource manager
C. Schedule a daily interproject review to track the progress of each project plan and their dependencies
D. Ask the project management office (PMO) to review the project plan dependencies
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