Passed Exam Today PMP

The Project Management Professional (PMP) emphasizes the importance of stakeholder management and engagement in successful project execution. When resistance is encountered, it’s crucial to understand the concerns of the stakeholders and address them appropriately. This could involve revisiting the stakeholder engagement plan to ensure it effectively addresses the needs and concerns of all stakeholders. This approach aligns with the guidance provided in the Professional in Business Analysis Reference Materials, which also underscores the importance of stakeholder engagement and the need to address stakeholder concerns in a timely and effective manner. References: Project Management Professional (PMP) Certification, PMBOK Guide, Professional in Business Analysis Reference Materials. Please refer to the respective guides for more detailed information.

As per the Project Management Professional (PMP) guidelines, when a project is nearing completion, the project manager should first confirm that the definition of done (DoD) has been met. This means that all project deliverables have been completed and approved. Only after this confirmation, the project manager can move on to the next steps such as documenting lessons learned or planning for a new initiative.

The project manager should calculate the costs for each option in each location and compare the net present value (NPV) for each. This is because NPV is a comprehensive financial metric that takes into account both the timing and the amount of cash flows, providing a complete picture of the profitability and financial feasibility of the project. It is a standard method for using the time value of money to appraise long-term projects. By comparing the NPV of each option, the project manager can identify the most financially viable option. References: Project Management Institute. (2021). A Guide to the Project Management Body of Knowledge (PMBOK® Guide)–Seventh Edition. Project Management Institute, Inc.