PMI Updated PMP Exam Questions and Answers by md

According to the PMBOK Guide 7th edition, a reserve analysis is a technique used to determine the amount of contingency and management reserves needed for a project. Contingency reserves are used to address known risks, while management reserves are used to address unknown risks. The risk management plan is a component of the project management plan that describes how risk management activities will be planned, structured, and performed. The project manager should request a reserve analysis and update the risk management plan to account for the critical element and the reserves needed in the next phase of the project. This will help the project manager to manage the uncertainties and potential impacts of the risks on the project objectives. References: PMBOK Guide 7th edition, pages 215-216, 223-224, 228-229. PMBOK Guide 7th Edition and PMP Exam Prep

 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.

According to the PMBOK Guide, planning poker is a technique used to estimate the size of user stories in agile projects. It involves each team member privately selecting a card with a number that represents the relative size or complexity of a user story, and then revealing their choices simultaneously. The team then discusses the reasons for the differences and repeats the process until they reach a consensus or an acceptable range. This technique helps the team to avoid anchoring, groupthink, and estimation bias, and to consider different perspectives and assumptions. By continuing multiple rounds of planning poker, the team can improve the accuracy and reliability of their estimates and plan their iterations more effectively. References: PMBOK Guide, 7th edition, page 309; Agile Estimation Techniques for the PMP Exam

According to the PMBOK Guide, issue management is the process of identifying and resolving issues that arise during the project life cycle1. Issues are problems that have already occurred and need to be addressed as soon as possible to avoid further negative impacts on the project objectives2. The project manager is responsible for managing issues and ensuring that they are resolved in a timely and effective manner3. One of the key steps in issue management is to identify the appropriate response and have it implemented4. This means that the project manager should analyze the issue, determine the best course of action, assign responsibilities, and monitor the progress of the resolution4. By doing so, the project manager can mitigate the impact of the issue on the project schedule and other aspects of the project performance4. The other options are not sufficient to manage the issue effectively. Identifying and reporting the issue (A) is necessary but not enough, as it does not involve taking any action to resolve the issue. Monitoring and controlling the issue (B) is also important but not sufficient, as it assumes that the issue has already been addressed and only needs to be tracked. Communicating any identified action to impacted stakeholders (D) is a good practice but not the primary responsibility of the project manager, as it does not ensure that the action is actually implemented and effective. References:

1: PMBOK Guide, 6th edition, p. 89

2: PMBOK Guide, 6th edition, p. 456

3: PMBOK Guide, 6th edition, p. 457

4: PMBOK Guide, 6th edition, p. 458