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NEW QUESTION # 10
What are two benefits of governance in risk and issue management?
Answer:
Explanation:
See the Explanation solutions in detail:
Explanation:
Detailed Explanation:
* Improved Decision-Making:
* Governance ensures a structured approach to identifying, assessing, and mitigating risks and issues.
* With standardized frameworks and processes in place, decision-makers have reliable data to make informed and timely decisions.
* For example, using a centralized risk register ensures all risks are visible, allowing for prioritization based on impact and probability.
* Accountability and Oversight:
* Governance establishes clear roles and responsibilities for managing risks and issues.
* This fosters transparency and ensures that risks and issues are addressed by the appropriate individuals or teams within the project.
* It also enables effective monitoring and reporting, ensuring that all stakeholders are aware of potential threats and mitigation plans.
NEW QUESTION # 11
Which of the following are not typical responses to risks?
* Complete root cause analysis to understand why the situation has occurred.
* Reduce the probability of the threat occurring or the impact on the project.
* Change objectives or practices to change the cause of the threat so it can no longer occur.
* There are no acceptable or viable approaches to take to avoid or reduce, so the threat and any residual risk must be managed.
* Prepare a risk management plan to document the risk and give it to your sponsor.
* Pass the responsibility for bearing the impact of the threat from one party to another.
Answer: A
Explanation:
Detailed Explanation:
* Preparing a risk management plan (5) is part of risk planning, not a direct response to risks.
NEW QUESTION # 12
You are managing a project that is approaching its final phase and is soon to be handed over to the operations team. One of the critical aspects of this transition is the effective engagement of stakeholders.
Answer:
Explanation:
See the Explanation for both solutions in detail:
Explanation:
Describe three key strategies you would use to engage stakeholders in agreeing to a transition plan (3 marks):
* Regular communication: Conduct consistent updates to build trust and clarify expectations.
* Collaborative workshops: Involve stakeholders in planning workshops to foster ownership.
* Tailored stakeholder engagement: Address individual needs with customized communication.
Explain two ways you would ensure the transfer of risks is understood and accepted by all stakeholders involved in the transition (2 marks):
* Documented risk register: Provide a clear and shared record of risks with mitigation strategies.
* Risk workshops: Conduct sessions to explain residual risks and their management post-transition.
Detailed Explanation:
NEW QUESTION # 13
Identify one of the five steps of a benefits management plan and state one action you would take to apply it to ensure the successful realization of project benefits.
Answer:
Explanation:
See the Explanation for both solutions in detail:
Explanation:
Benefit:Benefits Realization Tracking.Action:Regularly monitor key performance indicators (KPIs) to ensure the project is delivering the expected outcomes.
Detailed Explanation:
NEW QUESTION # 14
You are appointed as project manager on a major project that started several months earlier. The project has many diverse stakeholders, and you discover that a stakeholder communications planhas not been completed.
State two possible negative effects of not having an effective stakeholder communications plan for the project:
Answer:
Explanation:
See the Explanation for both solutions in detail:
Explanation:
* Misaligned stakeholder expectations leading to conflicts or dissatisfaction.
* Delays in decision-making due to lack of timely and accurate communication.
Detailed Explanation:
* Misaligned Stakeholder Expectations:
* Without a clear communication plan, stakeholders may have unrealistic or conflicting expectations about the project's progress, outcomes, or deliverables.
* This can lead to dissatisfaction, loss of trust, and conflicts that derail project progress and require additional time to resolve.
* Delays in Decision-Making:
* A stakeholder communications plan ensures that stakeholders are informed of key decisions, updates, and progress in a timely manner.
* Without it, critical information may not reach the right stakeholders at the right time, causing delays in approvals, problem resolution, or adjustments to the project scope or timeline.
Additional Insights:
* Impact on Project Schedule:A lack of communication increases the likelihood of missed deadlines due to unclear priorities or delayed approvals.
* Impact on Resource Allocation:Stakeholders may not provide necessary resources or support without regular updates, leading to resource shortages or inefficiencies.
* Mitigation:Develop a stakeholder communication plan immediately, including stakeholder mapping, preferred communication channels, and key milestones for updates.
NEW QUESTION # 15
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