PMI Updated PMI-PBA Exam Questions and Answers by leela

 Inspection is a technique or tool that is used to obtain acceptance of the delivered product. Inspection is a process that involves examining and measuring the product or its components against the predefined standards, criteria, or specifications, to determine its quality, completeness, and correctness. Inspection can help the business analyst and the project team to identify and correct any defects, errors, or deviations in the product, and to ensure that it meets the requirements and the stakeholder expectations. Inspection can also help to obtain the formal approval and acceptance of the product from the customer and other stakeholders, and to confirm that the product is ready for delivery or deployment. Inspection can be done using various methods, such as reviews, walkthroughs, audits, or tests. References: PMI Professional in Business Analysis (PMI-PBA)® Examination Content Outline1, page 21; Business Analysis for Practitioners: A Practice Guide2, page 101.

Requirements baseline is the approved version of the requirements document that serves as a reference point for further changes. Requirements can be changed after they are baselined through a defined process that involves submitting a change request, analyzing the impact of the change, obtaining approval from the stakeholders, updating the requirements document, and communicating the change to the project team and other affected parties. Requirements can be changed at any stage of the project life cycle as long as they follow the defined process. References: = PMI Professional in Business Analysis (PMI-PBA)® Examination Content Outline (2019), page 10; Business Analysis for Practitioners: A Practice Guide (2015), page 40.

Requirements status during the project development cycle is the information that should be reported to the stakeholder who wants to know how the implementation of new features in the development of a product is progressing. The requirements status shows how many requirements are in each stage of the development cycle, such as analysis, design, development, testing, or deployment. This information can help the stakeholder understand the progress and quality of the product development and identify any issues or risks that may affect the delivery of the new features. Distribution of project changes is not relevant to the implementation of new features, as it shows how many changes have been requested, approved, or rejected for the project scope, schedule, cost, or quality. Number of requirements approved vs. number of requirements rejected is not relevant to the implementation of new features, as it shows how many requirements have been accepted or discarded by the stakeholders during the requirements analysis phase. Number of requirements tested and approved is not sufficient to report the implementation of new features, as it only shows how many requirements have passed the verification and validation process, but not how many are still in development or deployment stages. References: Business Analysis for Practitioners: A Practice Guide, page 161-162; PMI Professional in Business Analysis (PMI-PBA)® Examination Content Outline, page 19.

Internal rate of return (IRR) is a technique that calculates the annualized rate of return of an investment or a project. IRR can help the business analyst to determine the estimated growth rate of potential solution options by comparing the present value of the expected cash inflows and outflows of each option. IRR can also help to select the option that has the highest rate of return and exceeds the minimum required rate of return or the cost of capital. References: = PMI Professional in Business Analysis (PMI-PBA)® Examination Content Outline (2019), page 11; Business Analysis for Practitioners: A Practice Guide (2015), page 66.