A project sponsor would like to include a new deliverable. The sponsor contacts the project manager in order to seek advice on the most efficient approach to complete the deliverable within the next 2 months.
What should the project manager do?
A project sponsor would like to include a new deliverable. The sponsor contacts the project manager in order to seek advice on the most efficient approach to complete the deliverable within the next 2 months.
What should the project manager do?
The project manager should suggest that the sponsor conduct a cost-benefit analysis to determine the feasibility of the new deliverable. This step is crucial to understand the potential impact on the project's scope, timeline, and budget. A cost-benefit analysis will provide the necessary information to make an informed decision about whether the new deliverable can be completed within the next two months and if it aligns with the project's goals and resources.
A project manager should first evaluate the impact of the new deliverable on the project's scope, timeline, and budget. Based on the evaluation, the project manager can then recommend the most efficient approach to completing the deliverable within the given timeline. Therefore, option A is the best approach as it suggests conducting a cost-benefit analysis to determine feasibility. This will help the sponsor understand the potential benefits and costs associated with the new deliverable and make an informed decision. Option B is incorrect because it is the project manager's responsibility to evaluate the impact of changes on the project and advise the sponsor accordingly. Option C is incorrect because using management reserves without proper justification and approval can lead to budget overruns and jeopardize the project's success. Option D is also incorrect because changing the project methodology may not be feasible or necessary to complete a single deliverable within a short timeline.
Its a new deliverable. You want to know the cost and feasibility before you just throw it into the schedule.
It should be A - Cost / benefit analysis since the sponsor is looking for advice (nothing more). Management reserve is there as a budget buffer for unknown unknowns. That doesnt make sense
When a project sponsor introduces a new deliverable, it's important to assess its feasibility and impact on the project. Recommending a cost-benefit analysis is a proactive approach to evaluate whether the addition of the new deliverable aligns with the project's objectives, constraints, and overall benefits. This analysis can help in making an informed decision about the feasibility of completing the new deliverable within the given timeframe and resource constraints. It also provides a structured way to consider the potential risks and benefits associated with the proposed change.
C is the answer. Where you learn that the sponsor create a cost-benefit analysis?
Real world answer is C but from exam perspective, answer is A.
In the text, the sponsor is looking for ways on how to implement the deliverable within 2 months. The only helpful advice, out of these opinions, is to use the management reserves - which the sponsor can authorise us to use.
THE PROBLEM WITH THIS GROUP IS 1ST: USING THIS DUMP ONLY TO STUDY 2ND: NOT READING QUESTION. THE BOSS IS SEEKING FOR AN ADVICE. SO WE TELL HIM "COST-BENEFIT ANALYSIS". WE ARE NOT ASKING HIM TO DO IT!!!! MANAGEMENT RESERVE IS FOR UNIDENTIFIED RISKS.
sponsor conducts a cost-benefit analysis. It's not say to tell the PM to create it. C is the answer
A. Suggest that the sponsor conduct a cost-benefit analysis to determine feasibility. Explanation: When a project sponsor wants to include a new deliverable, it is essential to understand the impact on the project scope, schedule, and resources. The project manager should suggest that the sponsor conduct a cost-benefit analysis to determine the feasibility of including the new deliverable within the given time constraints.
The project manager should advise the sponsor to conduct a cost-benefit analysis to determine whether it is feasible to complete the new deliverable within the next 2 months. This will help to ensure that the addition of the new deliverable is in line with the project's goals, objectives, and constraints, and that it is worth the resources and effort required to complete it. The project manager can also work with the sponsor to identify any potential risks and mitigation strategies associated with the new deliverable. Ultimately, the decision to add the new deliverable should be made based on a thorough analysis of the costs and benefits involved.
cost-benefit analysis is used to evaluate the cost versus the benefits in your project proposal and business case. Maybe the sponsor is the boss but what is the point of the new deliverable if no cost benefit. ???!!! so what if the management reserve not even cover it ? must know how much these new deliverable cost !!!
C is correct, sponsor is the boss....
Sponsor has authorized PM to complete new deliverable which means he has done his analysis before deciding to ask for implementing it. Management reserve can be used for authorized new deliverable completion. So, C is better option.
A. Suggest that the sponsor conduct a cost-benefit analysis to determine feasibility. This option is the most appropriate. Before making any changes to the project, it's essential to understand the potential benefits of adding the new deliverable against the associated costs and risks. A cost-benefit analysis will provide clarity on whether the addition of the deliverable is feasible and beneficial to the project.
A. Suggest that the sponsor conduct a cost-benefit analysis to determine feasibility
A is the best option. Using management reserves may affect other parts of the project.
C. Use the management reserve in order to expedite completion of the deliverable within 2 months. When the sponsor requests to complete a new deliverable within a specific timeframe, the project manager should consider utilizing the management reserve.
Answer is A, why not C is how will you know that the management reserver will be enough for it to be done ?