Project-Management-Professional PMP Exam Dumps

According to the PMBOK Guide, stakeholder engagement is the process of identifying the people, groups, or organizations that could impact or be impacted by the project, analyzing their expectations and influence, and developing appropriate strategies to effectively engage them in project decisions and execution. Stakeholder engagement is especially important for projects that involve virtual teams, as they may face challenges such as communication barriers, cultural differences, lack of trust, and low visibility. By performing stakeholder engagement with the virtual team, the project manager can ensure that the team members are aware of the project objectives, requirements, and deliverables, and that they receive timely and constructive feedback, recognition, and support. This can help improve the team’s performance, motivation, and collaboration, and ultimately lead to better project outcomes. References: PMBOK Guide, 6th edition, pages 513-514, 540-541; PMP Practice Exam, question 4.

 According to the PMBOK® Guide, communication process control is the process of monitoring and controlling communications throughout the entire project life cycle to ensure the information needs of the project stakeholders are met1. It involves ensuring that the communication management plan is effective and updated as needed, managing the flow of information, resolving communication issues, and implementing approved changes to the communication methods or tools1.

In this scenario, the project manager should first revisit the communication process control to identify and address the root cause of why different draft versions of the design document were distributed to the meeting participants. This could involve reviewing the communication management plan, the configuration management plan, the change management plan, and the project documents updates to ensure that the communication process is aligned with the project objectives and stakeholder expectations. The project manager should also implement corrective actions to prevent the recurrence of such communication errors and improve the quality and consistency of the project information.

Options B, C, and D are possible actions that the project manager could take after revisiting the communication process control, but they are not the first step to ensure that this does not happen again. Option B is a preventive action that could help avoid confusion and ambiguity among the stakeholders, but it does not address the underlying issue of how different draft versions were shared in the first place. Option C is a detective action that could help identify the source of the problem, but it does not provide a solution or improvement to the communication process. Option D is a corrective action that could help resolve the current situation, but it does not prevent future occurrences of the same problem. References: 1 PMBOK® Guide, 6th edition, page 377-378.

The project manager should determine the value of the vendor’s bid by calculating the expected monetary value (EMV) of the bid. The EMV is the product of the probability and the impact of a risk event or opportunity1. In this case, the vendor’s bid has two possible outcomes: a cost overrun of US$100,000 with a 65% probability, or a cost saving of US$50,000 with a 35% probability. The EMV of the bid is calculated as follows:

EMV = (0.65 x 100,000) - (0.35 x 50,000) = 47,500

The value of the vendor’s bid is the original bid amount plus the EMV, which is:

Value = 500,000 + 47,500 = 547,500

Therefore, the correct answer is C. US$547,500.

References: (Professional in Business Analysis Reference Materials source and documents)

• PMBOK® Guide, 6th edition, Section 11.5.2.2, “Expected Monetary Value Analysis”

 According to the PMP Exam Content Outline, a project manager should select the appropriate project approach based on the project characteristics, such as the degree of uncertainty, complexity, and stakeholder involvement. A hybrid approach combines elements of predictive and adaptive (agile, iterative, incremental) approaches to suit the specific needs and context of the project. In this case, a hybrid approach would allow the project manager to accommodate the potential changes from the new CEO, while also ensuring the delivery of the correct sales results as the final product. A hybrid approach would also enable the project manager to collaborate with the customer and the development team to refine the requirements and validate the solution throughout the project life cycle. A predictive approach would not be suitable for this project, as it assumes a high level of certainty and stability in the requirements and the environment, which is not the case here. An incremental approach would deliver the product in smaller increments, which may not meet the customer’s expectation of no intermediate results. An iterative approach would repeat the same phases until the product meets the desired quality, which may not be efficient or effective for this project. References: = PMP Exam Content Outline, Domain I: People, Task 1: Manage conflict, page 6. PMP Exam Content Outline, Domain III: Business Environment, Task 2: Select project approach, page 14. PMBOK Guide, Chapter 1: Introduction, Section 1.2: Foundational Elements, page 9. PBA Guide, Chapter 2: Needs Assessment, Section 2.2: Assess Current State of the Organization, page 33.