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APM Project Management Qualification (PMQ) Exam Sample Questions (Q38-Q43):

NEW QUESTION # 38
A financial services company is launching a new banking product for which the sponsors have set a challenging timeline for an initial launch. The stakeholders have provided a list of conflicting requirements to be included in the new product design and build.
The project manager has decided to deliver the project in an iterative life cycle due to the time constraints.

Answer:

Explanation:
See the Explanation for both solutions in detail:
Explanation:
Part A:State two reasons why an iterative approach would benefit solutions development in this scenario.
* Faster delivery of prioritized features.
* Flexibility to adapt to evolving stakeholder requirements.
Part B:Explain three requirement prioritization approaches the project team could focus on to meet the deadline in this scenario.
* MoSCoW Method:Categorizes requirements as "Must Have," "Should Have," "Could Have," and
"Won't Have," focusing on essential features.
* Cost-Benefit Analysis:Focuses on implementing high-value, low-cost features first.
* Value-Risk Matrix:Balances high-value requirements with low risk to ensure a feasible and impactful scope.
Detailed Explanation:

NEW QUESTION # 39
During a project review, which of the following would be the best indicator of how the project outputs are progressing?

A. Earned value - tracking spend to assess delivery progress.
B. Benefits realisation - tracking whether the project has achieved the business case.
C. Resource management - tracking whether the project team is meeting utilisation targets.
D. Budget tracking - monitoring actual spend against planned spend.

Answer: A

Explanation:
Detailed Explanation:
* Earned Value:This is a key performance indicator (KPI) in project management that integrates cost, scope, and schedule. It provides a clear view of how much progress has been made against the work planned and money spent.
* Unsuitable Options:
* B: Benefits realization assesses post-project success, not ongoing progress.
* C: Resource management is unrelated to deliverables progress.
* D: Budget tracking only measures financial health without linking to project outputs.

NEW QUESTION # 40
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 # 41
You are managing a construction project aimed at developing a new eco-friendly office building. You are tasked with ensuring that sustainability measures are effectively monitored and reported.
At which point in the project life cycle should you implement sustainability measures?

A. Sustainability measures should be captured at the building's completion and reported in the final project report.
B. Sustainability measures should be implemented once construction has begun and reported if significant issues arise.
C. Sustainability measures should only be reviewed during major project milestones and construction stopped if targets are not being met.
D. Sustainability measures should be monitored continuously and integrated into project planning, before construction begins.

Answer: D

Explanation:
Detailed Explanation:

NEW QUESTION # 42
You are the project manager for a large-scale rebranding project. During a critical phase, it becomes evident that additional funding is necessary to address unforeseen challenges.
Which role within the project would you approach to authorise the updated business case and secure the necessary funds to ensure the project's continuation?

A. Product owner.
B. Project steering board.
C. Project sponsor.
D. Quality manager.

Answer: C

Explanation:
Detailed Explanation:
* Theproject sponsoris responsible for securing and authorizing funding for the project.

NEW QUESTION # 43
......

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