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An opportunity emerged in the middle of a project life cycle. Which of the following is the BEST action for the project manager to take?
A. Exploit the risk.
B. Accept the risk.
C. Avoid the risk.
D. Transfer the risk.
Explanation: The project manager should exploit the risk after an opportunity emerged in the middle of a project life cycle. Exploit is a risk response strategy that aims to increase the probability and/or impact of a positive risk or opportunity. Exploit can involve actions such as allocating more resources, changing the scope or schedule, or adding more features or benefits to the project deliverables. Exploit can help to ensure that the opportunity is realized and that the project gains more value or advantage from it3
A project is executed to migrate all data to a single system following the merger of two companies. The team validates that system performance will not be impacted. Which of the following did the team perform?
A. Regression testing
B. Smoke testing
C. Stress testing
D. Automation testing
A third party needs to perform a short-term task for which the duration cannot be accurately estimated and the cost cannot be calculated in advance. Which of the following should the project manager put in place before work begins?
A. Time and materials contract
B. Master service agreement
C. Fixed-price contract
D. Statement of work
E. Cost-plus agreement
Explanation: The project manager should put in place a time and materials contract before work begins for a third party that needs to perform a short-term task for which the duration cannot be accurately estimated and the cost cannot be calculated in advance. A time and materials contract is a type of contract where the buyer pays the seller based on the actual time spent and materials used during the project. A time and materials contract is suitable for projects that have uncertain or variable scope, duration, or cost. A time and materials contract can provide flexibility and adaptability for both parties and allow them to adjust to changing requirements or circumstances.
A car manufacturer is presenting to three vendors the abilities and qualifications required to develop the last module of a data warehouse application. The manufacturer is emphasizing the technical skills necessary to complete the project on time and highlighting its current internal IT project. Which of the following best describes this activity?
A. Key stakeholder identification
B. Preliminary procurement
C. Solution design determination
D. Critical factor enlistment
Which of the following provides the best justification for undertaking a project?
A. Scope statement
B. Business case
C. Sponsor request
D. Project charter
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