IIBA CBAP Exam With Confidence Using Practice Dumps

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

An assumption is something that is believed to be true or certain to happen, without proof. Assumptions are often used to fill in the gaps of incomplete or uncertain information, and they can affect the analysis of the current and future states. In this question, the project manager is assuming that her project team members have a certain skill, without verifying it. This is an example of an assumption that should be identified and validated as part of the assessment of capability gaps.

The other options are not assumptions, but rather:

B. A constraint, which is a restriction or limitation that affects the performance or outcomes of a project or solution.

C. A requirement, which is a condition or capability needed by a stakeholder to solve a problem or achieve an objective.

D. A risk, which is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project or solution objectives.

References:

CBAP® Handbook, page 14, section 4.1.2.2

BABOK® Guide, page 30, section 3.2.1

CBAP / CCBA Certified Business Analysis Study Guide, page 94, section 3.2.1

The CEO’s executive decision to start and complete the top 25 revenue-producing stores in the first year shows a risk-seeking or risk-taking attitude. This means that the CEO is willing to accept higher risks for higher rewards, and sees risks as opportunities rather than threats. The CEO is not avoiding, mitigating, or neutral to the risks involved in the remodeling project, but rather embracing them and pursuing them aggressively. This may result in increased revenue and customer satisfaction, but also exposes the organization to potential losses and disruptions. References:

Risk Attitude in Project Management: Definition, Types & Example, Web Article, August 2022

Risk Appetite vs. Risk Tolerance: What is the Difference?, Web Article, October 2022

CBAP / CCBA Certified Business Analysis Study Guide, 2nd Edition, Chapter 3: Strategy Analysis, p. 95-96

Certified Business Analysis Professional™ (CBAP®) Specialization, Course 3: Business Analysis: Strategy Analysis, Week 1: Strategy Analysis Overview, Video: Risk Analysis