PMP Exam Questions Tutorials

According to project management best practices, one of the key elements of successful project implementation is to manage the risks and avoid scope creep12. If there are high-priority issues that require external domain expertise, the project manager should not ignore them, ask the issue reporter to close them, or reduce the project scope. These actions could compromise the quality and value of the project deliverables, and lead to customer dissatisfaction and potential litigation.

Instead, the project manager should review the open issues with the issue reporter and assess the impact and urgency of each issue. Then, the project manager should issue a change request to hire an external domain expert who can help resolve the issues and ensure the project meets the requirements and expectations of the stakeholders. This way, the project manager can maintain the project scope and quality, and manage the risks effectively34.

1: Project Management Best Practices | TeamGantt 2: Project Management Best Practices: 8 Strategies for Success 3: Best practices–the nine elements to success - Project Management Institute 4: 10 project management best practices you MUST know - Teamwork

A minimum viable product (MVP) is a product with the minimum features that can deliver value to the customer and validate the product concept1. To estimate the cost of an MVP, the project manager can use agile methods such as user story points and forecasting. User story points are a relative measure of the size and complexity of a user story, which is a description of a feature from the user’s perspective2. Forecasting is a technique that uses historical data and trends to project future outcomes3. By estimating the user story points for each feature of the MVP and using forecasting to calculate the time and resources needed, the project manager can report a realistic and accurate budget for the MVP. This approach is more suitable than the other options because:

B. Determining the control accounts and using a top bottom estimate is a traditional method that is more applicable to large and complex projects with well-defined scope and requirements. It involves breaking down the project into smaller units and estimating the cost of each unit from the top level to the bottom level. This method may not be flexible enough to accommodate the changes and uncertainties that are common in MVP development.

C. Considering the cost performance index (CPI) based on earned value (EV) divided by costs is a method that is used to measure the efficiency of the project performance. It compares the value of the work completed with the actual cost incurred. This method is not relevant for estimating the cost of an MVP, as it requires the project to be already in progress and have a baseline plan to compare with.

D. Calculating the budget at completion (BAC) based on the completed and planned features is a method that is used to estimate the total cost of the project at the end of its life cycle. It involves adding up the actual cost of the work done and the estimated cost of the remaining work. This method is not appropriate for estimating the cost of an MVP, as it assumes that the scope and features of the project are fixed and known in advance, which is not the case for MVP development.

A hybrid approach is a combination of predictive and adaptive (or agile) methodologies that can be tailored to suit the project’s needs and context. A hybrid approach can offer the benefits of both approaches, such as clarity, flexibility, responsiveness, and customer satisfaction. However, a hybrid approach also requires careful planning, coordination, and communication among the project stakeholders, especially the project manager, the product manager, and the project sponsor12.

The best option for the project manager to proceed with the project management plan is to explore with the product manager to determine if there are viable opportunities to deliver value incrementally and increase business value. This option can help the project manager to understand the product vision, scope, and requirements, and to identify the areas where an adaptive approach can be applied. It can also help the project manager to collaborate with the product manager and align their expectations and goals. Moreover, it can help the project manager to demonstrate the value of a hybrid approach to the project sponsor and gain their support and approval3 .

The other options are not as effective or relevant for proceeding with the project management plan:

A. Ask the team to assess whether the product specification can be expressed in user stories to enable a Scrum or Kanban approach: User stories are a common tool used in agile methodologies to describe the features and functionalities of a product from the perspective of the end user. They help to capture the user needs, preferences, and value proposition. However, user stories are not the only way to express the product specification, and they may not be suitable for every project or product. Asking the team to assess whether the product specification can be expressed in user stories may not address the project manager’s need to explore the hybrid approach with the product manager and the project sponsor. It may also create confusion or conflict among the team members, who may not be familiar with or comfortable with agile methodologies .

C. Recommend to the project sponsor that a predictive approach is appropriate for the project due to the stable product requirements: A predictive approach is a traditional methodology that follows a linear and sequential process of planning, executing, and controlling the project. A predictive approach is suitable for projects that have stable and well-defined requirements, scope, and deliverables. However, a predictive approach may not be able to accommodate changes, uncertainties, or complexities that may arise during the project. Recommending to the project sponsor that a predictive approach is appropriate for the project may not reflect the project manager’s willingness to explore the hybrid approach, and may also disregard the project sponsor’s request and preference .

D. Ask the product manager whether they are prepared to act as product owner for the project in order to participate in iterative planning and reviews: A product owner is a role in agile methodologies that represents the voice of the customer and the business. A product owner is responsible for defining, prioritizing, and validating the product backlog, and for collaborating with the development team and the stakeholders. A product owner is also involved in iterative planning and reviews, such as sprint planning, sprint review, and sprint retrospective. However, a product owner is not the same as a product manager, and they may have different skills, responsibilities, and expectations. Asking the product manager whether they are prepared to act as product owner for the project may not be appropriate or realistic, and may also imply that the project manager has already decided to adopt an agile methodology without consulting the product manager or the project sponsor .

According to the PMBOK Guide, 6th edition, section 12.3.3.1, procurement agreements are legal documents that define the contractual relationship between the buyer and the seller. They include terms and conditions, scope of work, pricing, payment schedule, delivery dates, and other clauses that govern the procurement process. If the vendor is unable to deliver some of the equipment at the agreed dates, the project manager should review the procurement agreements to determine the impact of the delay on the project scope, schedule, cost, quality, and risk. The project manager should also communicate with the vendor to understand the root cause of the delay and negotiate possible solutions or alternatives. Depending on the severity of the delay and the clauses in the procurement agreements, the project manager may also invoke penalties, incentives, or termination options to protect the interests of the project. References: PMBOK Guide, 6th edition, section 12.3.3.1; PMI website