PMI Updated PMP Exam Questions and Answers by nansi

The first step in addressing the concern of reducing labor costs without introducing risk to the project delivery is to perform a thorough analysis of the key cost drivers. This involves understanding the elements that contribute significantly to the project’s labor costs. By identifying these cost drivers, the project manager can explore various alternatives and strategies such as automation of repetitive tasks, outsourcing non-core activities, cross-training, and multi-skilling workers, or implementing lean production methods1. These alternatives can potentially reduce labor costs while maintaining the quality and timeline of the project delivery.

References: = Strategies for Reducing Labor Costs1.

 In an agile project facing a new impediment that affects the timeline and costs, the product owner should focus on maximizing value and minimizing costs. Reprioritizing the backlog based on the value of each item and the cost of delay divided by duration is a strategic approach that aligns with agile principles. This method ensures that the most valuable and time-sensitive work is prioritized, which is crucial when dealing with extended support for an older platform at a higher cost. It allows for a more informed decision-making process that considers the impact of delays on the project’s value123.

References:

• Making Informed Decisions with a Go/No-Go Checklist for Agile Projects1
• Using agile to accelerate your data transformation2
• The Agile Product Owner’s Guide to Effective Product Backlog Management3

 In the context of the PMP objectives, when faced with unforeseen circumstances that impact project acceptance criteria, the project manager should adapt the project management plan and activities to align with the new conditions while still meeting the project objectives. Transitioning on-site training to online sessions is a proactive approach that ensures the training objectives are still met despite the shift to remote work. This aligns with the PMI’s emphasis on flexibility and adaptability in project execution.

References: = The PMP Examination Content Outline and the PMI Guide to Business Analysis, which emphasize the importance of meeting project objectives and adapting to changes in project execution12.

In the context of agile project management, when a facilitator is working with a new team, it is important to establish a common understanding and set the stage for collaboration. Holding a team charter discussion is a foundational step in this process. It allows the team to define their mission, objectives, and the norms that will guide their work together. This session helps in building trust, setting expectations, and ensuring that everyone is aligned with the project’s goals. It is a critical step for team formation, especially when the facilitator and the team have not worked together before.

References: The recommendation for an agile facilitator to hold a team charter discussion with a new team is supported by agile best practices and the guidelines provided in PMI’s resources on project management and business analysis123