IIBA CBAP Exam With Confidence Using Practice Dumps

A schedule variance report is a report that shows the difference between the planned and actual schedule of a project. It indicates whether the project is ahead of, on, or behind schedule, and by how much. It also identifies the causes of the schedule variance and the corrective actions needed to bring the project back on track. A status report is a report that provides an overview of the current state of the project, including the scope, schedule, cost, quality, risks, issues, and deliverables. A delay report is a report that documents the reasons for a delay in the project, the impact of the delay, and the mitigation strategies to minimize the delay. A cost variance report is a report that shows the difference between the planned and actual cost of a project. It indicates whether the project is under or over budget, and by how much. It also identifies the causes of the cost variance and the corrective actions needed to control the project cost. References: CBAP® Handbook, CBAP® Exam Prep Study Guide, Project Management Institute

The governance approach defines the roles and responsibilities of the stakeholders involved in the business analysis activities, including who has the authority to make decisions and approve deliverables. In this case, the Director of Human Resources is not the decision maker, but one of the stakeholders who needs to be consulted and informed. The final decision should be made by those who have the decision-making authority as per the governance approach, which may include the sponsor, the Director of Finance, or other senior managers. References:

CBAP / CCBA Certified Business Analysis Study Guide, 2nd Edition, Chapter 2: Business Analysis Planning and Monitoring, page 67

BABOK Guide, Version 3, Section 2.4: Governance, page 29

The planning stage of a project defines the number of risks and opportunities, including intense planning and anticipation of risk events. The planning stage is the process of establishing the scope, objectives, approach, and deliverables of the project. It involves defining the project requirements, assumptions, constraints, and dependencies. It also involves developing the project management plan, which includes the subsidiary plans for scope, schedule, cost, quality, resources, communications, risk, procurement, and stakeholder management. The planning stage helps to identify and analyze the risks and opportunities that may affect the project, and to plan the appropriate responses and strategies to address them. The planning stage also helps to align the expectations and involvement of the project stakeholders, and to obtain their approval and commitment for the project12. The executing stage of a project is the process of performing the work and producing the deliverables of the project. It involves implementing the project management plan, managing the project resources, executing the project activities and tasks, and creating the project outputs and outcomes. The executing stage helps to monitor and control the risks and opportunities that occur during the project, and to implement the planned responses and strategies to deal with them. The executing stage also helps to communicate and collaborate with the project stakeholders, and to manage their expectations and satisfaction12. The initiation stage of a project is the process of authorizing and launching the project. It involves identifying the problem or opportunity that the project intends to address, and defining the purpose, objectives, scope, and justification of the project. It also involves developing the project charter, which is a document that formally approves and initiates the project. The initiation stage helps to identify and assess the high-level risks and opportunities that are associated with the project, and to determine the feasibility and viability of the project. The initiation stage also helps to identify and engage the key project stakeholders, and to obtain their support and endorsement for the project12. The closing stage of a project is the process of finalizing and terminating the project. It involves verifying and validating the project deliverables, evaluating and documenting the project performance, and closing the project contracts and accounts. It also involves developing the project closure report, which is a document that summarizes and communicates the project results and lessons learned. The closing stage helps to identify and resolve the remaining risks and opportunities that are related to the project, and to ensure the project objectives and benefits are achieved. The closing stage also helps to acknowledge and appreciate the project stakeholders, and to transfer the project ownership and responsibility to the customer or sponsor12. References: CBAP® Handbook, Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition