Ace Your PMI-SP PMI Certification Exam

What-if scenario analysis explains the analysis of the question "What if the situation represented by scenario 'X' happens?". This What-If Scenario Analysis shortly named as WIS

A. A schedule network analysis is performed using the schedule to compute the different scenarios, such as extending specific engineering durations, or delaying a major component delivery. Businesses use what-if scenarios to determine the effect different costs or investments have on profit and other financial indicators.

Answer option A is incorrect. The schedule analysis is the review of the schedule, but does not examine other possibilities for completing the project work.

Answer option D is incorrect. The root cause analysis helps to determine the reasons why the project is running late.

Answer option B is incorrect. The resource leveling causes the project's duration to increase. It is a technique that resolves resource conflicts by delaying tasks within their slack allowances. The resource leveling is the process in which project teams come across problems when developing their project schedules.

A performance report is needed to communicate the variance between planned work and actual work. A performance report is made by the project team detailing activities, milestones, problems, accomplishments, and identified issues. Performance reports are used to report some key information as follows: Current status Scheduled activities Significant accomplishment for the period Forecasts Issues

Answer option A is incorrect. An issue report is not the best answer for this scenario. Issues are recorded in the issue log and an issue owner is assigned.

Answer option B is incorrect. An exceptions report is a tempting answer as this is an exception to the project. PMI does not use this terminology.

Answer option C is incorrect. Variance analysis is the activity of reviewing the variance to determine why it exists.

The judgmental forecasting method incorporates intuitive judgments, opinions and subjective probability estimates. Some examples of judgmental forecasting are as follows:

Composite forecasts

Surveys

Delphi method

Scenario building

Technology forecasting

Forecast by analogy

Answer option C is incorrect. Autoregressive moving average is an example of the causal/econometric method.

A salience model uses three values to classify stakeholders: power, urgency, and legitimacy in the project. The salience model is a technique for categorizing stakeholders according to their importance. The various difficulties faced by the project managers are as follows: How to choose the right stakeholders? How to prioritize competing claims of the stakeholders communication needs? Stakeholder salience is determined by the evaluation of their power, legitimacy and urgency in the organization. Power is defined as the ability of the stakeholder to impose their will. Urgency is the need for immediate action. Legitimacy shows the stakeholders participation is appropriate or not. . The model allows the project manager to decide the relative salience of a particular stakeholder.

Answer option D is incorrect. This is a description of a power/interest grid.

Answer option B is incorrect. This is a description of an influence/impact grid over the project.

Answer option C is incorrect. This is a description of a power/impact over the project.