PMP Practice Test

The contract has not been appropriately reviewed by the project team

Explanation
According to the PMBOK Guide, the project team is responsible for conducting procurement activities, such as planning, conducting, controlling, and closing procurements. This includes reviewing and updating the contracts as needed to ensure compliance with the project requirements and the applicable laws and regulations. The project manager should also involve the legal department and other relevant stakeholders in the contract review process to avoid any potential issues or disputes. Therefore, if the contract violates a new law that was passed last year, it means that the project team has not performed an adequate review of the contract before renewing it, and has failed to identify and mitigate the risk of non-compliance.

References:
PMBOK Guide, Chapter 12, Section 12.1, Plan Procurement Management
PMBOK Guide, Chapter 12, Section 12.2, Conduct Procurements
PMBOK Guide, Chapter 12, Section 12.3, Control Procurements
PMBOK Guide, Chapter 12, Section 12.4, Close Procurements
PBA Guide, Chapter 5, Section 5.3.2, Contract Review and Approval

Create a prioritized backlog and define iteration review sessions with stakeholders

According to the Agile Practice Guide, a prioritized backlog is a list of features, functions, requirements, enhancements, and fixes that are prioritized according to the value they deliver to the customer and the amount of work required to complete them. A prioritized backlog helps the project team to manage changing scope and expectations in an agile environment, where new knowledge and feedback are continuously incorporated into the project. By defining iteration review sessions with stakeholders, the project manager can ensure that the project outcomes are aligned with the business goals and that the stakeholders are satisfied with the deliverables. Iteration review sessions are meetings where the project team demonstrates the work completed in an iteration and solicits feedback from the stakeholders. Iteration review sessions help to validate the value of the deliverables, identify any defects or issues, and adjust the backlog for the next iteration. References: Agile Practice Guide, pages 37-38, 5.1.1 Prioritized Backlog, 5.2.2 Iteration Review.

Gather requirements from stakeholders

According to the PMBOK Guide, the first process in the Project Integration Management knowledge area is Develop Project Charter. This process authorizes the project and defines the high-level scope, objectives, and stakeholders of the project. The project charter is based on the business case, which is the document that justifies the need and value of the project. The business case is usually prepared by the project sponsor or initiator, not the project manager. Therefore, option A is incorrect. Option B is also incorrect, because a SWOT analysis is a technique used to identify the project risks, assumptions, and constraints, which are part of the project planning process, not the initiating process. Option C is incorrect, because engaging stakeholders and allocating resources are also part of the project planning and executing processes, not the initiating process. Option D is the correct answer, because gathering requirements from stakeholders is a key activity in the initiating process group, as it helps to define the scope and objectives of the project, as well as the expectations and needs of the stakeholders. The project manager should gather requirements from stakeholders before developing the project charter, as the charter should reflect the stakeholder requirements and align with the business case. References: = PMBOK Guide, 6th edition, pages 30-33, 75-77, 123-125, 135-137.

Ask the stakeholders about the priority of this change

Ask the product owner to review the product backlog

In an agile project, the project manager should collaborate with the stakeholders and the product owner to manage changes in the product. Asking the stakeholders about the priority of this change will help the project manager understand the value and urgency of the change, and align the expectations of the stakeholders with the project vision. Asking the product owner to review the product backlog will help the project manager ensure that the change is properly prioritized and incorporated into the product backlog, which is the source of requirements for the agile project. Asking the team members to analyze the impact of this change, asking the sponsor to approve the change request, or asking the team members to include the change in the next iteration are not the best actions to take in an agile project, as they may introduce unnecessary delays, bureaucracy, or scope creep. References: = PMBOK Guide, 6th edition, page 18, section 1.2.3 (Agile Considerations); page 176, section 5.1.1.1 (Project Stakeholders); page 179, section 5.1.3.1 (Project Charter); page 181, section; (Product Owner); page 182, section 2.3.1 (Product Backlog)

The updated project management plan

The project manager should share the updated project management plan with the key resource, as it contains the information about the project purpose and alignment with the organization’s strategy. The project management plan is the primary source of guidance for the project team and stakeholders, and it integrates all the subsidiary plans and baselines, such as the benefits management plan, the scope management plan, and the communications management plan. By sharing the updated project management plan, the project manager can ensure that the key resource understands the project objectives, scope, benefits, risks, assumptions, and constraints, as well as the communication channels and methods for the project. 

References: (Professional in Business Analysis Reference Materials source and documents)
PMBOK Guide, 6th edition, section 4.2.3.1, page 89 
PMP Exam Prep, 10th edition, Rita Mulcahy, page 78 
PMP Practice Questions #58 - iZenBridge1