CAPM Exam Study 2024 WITH CORRECT ANSWERS 100%

You are evaluating the dependencies that exist currently within your risk management plan to determine its accuracy. Which of the following is best described as an action to verify that all risks have been identified, that plans have been created to handle risks, and that the individuals responsible for responding to the risks are prepared to take action? A Risk reassessment B Reserve analysis C Workaround D Risk audit - Correct Answer Correct answer: Risk audit A risk audit is an action to verify that all risks have been identified, that plans have been created to handle risks, and that the individuals responsible for responding to the risks are prepared to take action. Basically, a risk audit examines and documents the effectiveness of the risk responses. This is in relation to dealing with the root causes and identified risks. The risk audit also evaluates the effectiveness of the risk management process. A workaround is an unplanne d response that is created to handle unexpected problems on a project. A risk reassessment is an action taken to periodically review and adjust the documentation of the risk management plan and risk register. A reserve analysis is a review of the project's financial resources to compare the current balance against the projected amount needed. You are a project manager for a very large company and have taken over a new project that was in the middle of execution. You would like to see which stakeholders have the greatest influence over your project. Where is the best place to find this information? - Correct Answer Correct Answer: Stakeholder register It is in the stakeholder register that a project manager would find which stakeholders have been identified as having the greatest influence over a project. The stakeholder register will also contain details about particular stakeholders to help understand what knowledge they may have. It also captures the requirements and various expectations they may have for the project. Shanda decided to use an iterative planning technique as a way to work a form of progressive elaboration on her project. Rolling wave planning is an iterative planning technique that she explored and decided to utilize. Which of the following is rolling wave planning not applicable to? A Work packages B Cost analysis C Planning packages D Release planning - Correct Answer Correct answer: Cost analysis Rolling wave planning is an iterative planning technique applicable to work packages, planning packages, and release planning when using an Agile or waterfall approach. Rolling wave planning involves a detailed plan of the work to be completed in the near term. The work in the future is planned at a much higher level. Rasheed is the lead project manager for a telecommunications organization and is in charge of training new project managers. One of the new project managers is assisting with managing the communications process. In evaluating the documents, he notices a document that does not belong in this process. Which of the following is not an example of a project document that would be an input to the Manage Communications process? A Lessons learned register B Resource management plan C Stakeholder register D Change log - Correct Answer Correct answer: Resource management plan The resource management plan is part of the project management plan, which is an input to the Manage Communications process. It is not a project document. The communications management plan includes components of the project, program, or portfolio management plan that describes how, when, and by whom information about the project will be administered and disseminated. Moira begins the event by illustrating the proposed iteration goals alongside reviewing the higher-priority stories. The development team discusses options for implementation, technical issues, dependencies, and other requirements. They choose the effort to be performed in the next iteration. What type of meeting does this best describe? A Phase review B Status review C Backlog planning D Iteration planning - Correct Answer Correct answer: Iteration planning An iteration planning meeting is used to clarify the details of the backlog items, acceptance criteria, and work effort required to meet an upcoming iteration commitment. An iteration planning meeting is also known as a sprint planning meeting. Iterations are timeboxed cycles of development on a product or deliverable in which all of the work that is required to deliver value is conducted. You have just implemented a risk response and will need to track its effectiveness. Which process improves the efficiency of the risk approach throughout the project lifecycle to continuously optimize risk responses? A Control Scope B Perform Integrated Change Control C Control Quality D Monitor Risks - Correct Answer Correct answer: Monitor Risks Monitor Risks is the process of monitoring the implementation of risk response plans, tracking identified risks, identifying new risks, and evaluating risk process effectiveness throughout the project. The key benefit of this process is that it allows for project decisions to be based on current information, not planned information, so risk response