QUESTION 7 A technique used in a PM\'s project selection tool is also useful whe

Question

QUESTION 7

A technique used in a PM's project selection tool is also useful when considering quality management. What is this tool?

A. Cost-benefit analysis

B. Parametric estimating

C. Corporate policy

D. Regulatory environmen

t QUESTION 8

One method the PM can use to determine if a project has successfully met a critical milestone is:

A. Quality exit criteria

B. Sign-off by a quality expert

C. ISO 9000 certification

D. Project sponsor sign-off

QUESTION 9

What are the three components utilized when writing the risk plan document? (select three answers)

A. Identification

B. Segmentation

C. Analysis

D. Probability

E. Impact

F. Response

QUESTION 10

Two of the outcomes of risk planning are: (select two responses)

A. Risk acceptance criteria

B. Risk probability and impact matrix

C. Risk register

D. Risk log

Explanation / Answer

(7) Option A

The answer is Cost-benefit analysis in short also called as CBA is the main tool that is considered

in project selection as well as for the quality management.It is an analytical process in which

business decisions are analyzed.This can be defined also as an anlytical tool which gives the merits

and demerits of whether to take up with a business proposal.

(8) Option D

Project sponsor sign-off is the key indicator which describes that the project has successfully met

with its objectives and critical milestones.Sign-off indicates the satisfaction with the

deliverables.

(9) Option A,C,D

Identifation and Analysis nearly comes under the same category where the requirements that are

needed,important functionalities etc are identified.Whereas Probability is the one more key

component that is used in a risk plan document where the chance of risks are identified and

respective measures are taken.

(10) Option A,C

The following are the two main outcomes in risk planning.They are:
Risk acceptance criteria in which the project is accepted by taking the risk as a challenge.The

other one is the risk register sometimes called as risk log which identifies the risks,make certain

analysis and takes required actions that are needed further.

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