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The Finance Director, X, has been tasked with managing this project. X has been requested to consult with stakeholders, in order that a Project Initiation Document (PID) may be produced.

What are the TWO main uses of a PID?

Options:

To ensure that the project is broken down into work packages and a Work Breakdown Structure be produced.

To produce a risk assessment of both internal and external risks that are likely to effect the project, and alternative actions to reduce the risks.

To ensure that the project has a complete sound basis before any major commitment to the project.

To act as a base document against which the project can be managed for progress, change management issues, and ongoing viability issues.

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Question 2

A building project for developing new homes to customers' own specification is behind schedule and will incur penalty payments if the next milestone is not achieved on time.

Which of the following strategies would be appropriate in order to get the project back on track and that will not compromise customer satisfaction and could still minimse the overall cost of development?

Select All that apply.

Options:

Motivate labour resources to work smarter.

Identify activities that are not adding value.

Reduce the specification for the project build.

Consider increasing the number of builders working on the project each day.

Question 3

GG, the new CEO in an organisation, was surprised to find out that the company does not undertake competitor analysis. He was told that, as the organisation operates in a very dynamic market, things change too quickly to make analysis worthwhile.

Choose from the following the option that presents why competitor analysis is important.

Options:

It allows the organisation to use the budget that the Marketing Department has been allocated so it doesn't lose it in the future.

It is an activity that satisfies the senior managers' requests.

If competitor analysis is not undertaken a new competitor could have entered the market and could reduce the sales of the organisation.

It can help the company to market its products.

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