[Jan-2024] Latest PMI CAPM exam dumps and online Test Engine [Q350-Q370]

Section: Volume E
Explanation:
1.4.3 Projects and Strategic Planning
Projects are often utilized as a means of directly or indirectly achieving objectives within an organization’s strategic plan. Projects are typically authorized as a result of one or more of the following strategic considerations:
Market demand (e.g., a car company authorizing a project to build more fuel-efficient cars in

response to gasoline shortages);
Strategic opportunity/business need (e.g., a training company authorizing a project to create a new course to

increase its revenues);
Social need (e.g., a nongovernmental organization in a developing country authorizing a project to provide

potable water systems, latrines, and sanitation education to communities suffering from high rates of infectious diseases); Environmental consideration (e.g., a public company authorizing a project to create a new service for electric

car sharing to reduce pollution);
Customer request (e.g., an electric utility authorizing a project to build a new substation to serve a new

industrial park);
Technological advance (e.g., an electronics firm authorizing a new project to develop a faster, cheaper, and

smaller laptop based on advances in computer memory and electronics technology); and Legal requirement (e.g., a chemical manufacturer authorizing a project to establish guidelines for proper

handling of a new toxic material).
Projects, within programs or portfolios, are a means of achieving organizational goals and objectives, often in the context of a strategic plan. Although a group of projects within a program can have discrete benefits, they can also contribute to the benefits of the program, to the objectives of the portfolio, and to the strategic plan of the organization.
Organizations manage portfolios based on their strategic plan. One goal of portfolio management is to maximize the value of the portfolio through careful examination of its components-the constituent programs, projects, and other related work. Those components contributing the least to the portfolio’s strategic objectives may be excluded.
In this way, an organization’s strategic plan becomes the primary factor guiding investments in projects. At the same time, projects provide feedback to programs and portfolios by means of status reports, lessons learned, and change requests that may help to identify impacts to other projects, programs, or portfolios. The needs of the projects, including the resource needs, are rolled up and communicated back to the portfolio level, which in turn sets the direction for organizational planning.

Section: Volume C
Explanation
Explanation:
Process: 12.4 Close Procurements
Definition: The process of completing each project procurement.
Key Benefit: The key benefit of this process is that it documents agreements and related documentation for future reference.
Inputs
1. Project management plan
2. Procurement documents
Tools & Techniques
1. Procurement audits
2. Procurement negotiations
3. Records management system
Outputs
1. Closed procurements
2. Organizational process assets updates

Section: Volume C
Explanation:
5.3.3.1 Project Scope Statement
The project scope statement is the description of the project scope, major deliverables, assumptions, and constraints. The project scope statement documents the entire scope, including project and product scope. It describes, in detail, the project’s deliverables and the work required to create those deliverables. It also provides a common understanding of the project scope among project stakeholders. It may contain explicit scope exclusions that can assist in managing stakeholder expectations. It enables the project team to perform more detailed planning, guides the project team’s work during execution, and provides the baseline for evaluating whether requests for changes or additional work are contained within or outside the project’s boundaries.
The degree and level of detail to which the project scope statement defines the work that will be performed and the work that is excluded can help determine how well the project management team can control the overall project scope. The detailed project scope statement, either directly, or by reference to other documents, includes the following:
Product scope description. Progressively elaborates the characteristics of the product, service, or result

described in the project charter and requirements documentation.
Acceptance criteria. A set of conditions that is required to be met before deliverables are accepted.

Deliverable. Any unique and verifiable product, result, or capability to perform a service that is required to be

produced to complete a process, phase, or project. Deliverables also include ancillary results, such as project management reports and documentation. These deliverables may be described at a summary level or in great detail.

Explanation/Reference:
Explanation:
5.6.2.1 Variance Analysis
Variance analysis is a technique for determining the cause and degree of difference between the baseline and actual performance. Project performance measurements are used to assess the magnitude of variation from the original scope baseline. Important aspects of project scope control include determining the cause and degree of variance relative to the scope baseline (Section 5.4.3.1) and deciding whether corrective or preventive action is required.

Section: Volume B

Explanation/Reference:
Explanation:
Configuration control is focused on the specification of both the deliverables and the processes; while change control is focused on identifying, documenting, and approving or rejecting changes to the project documents, deliverables, or baselines.
Some of the configuration management activities included in the Perform Integrated Change Control process are as follows:
Configuration identification. Identification and selection of a configuration item to provide the basis for

which the product configuration is defined and verified, products and documents are labeled, changes are managed, and accountability is maintained.
Configuration status accounting. Information is recorded and reported as to when appropriate data

about the configuration item should be provided. This information includes a listing of approved configuration identification, status of proposed changes to the configuration, and the implementation status of approved changes.
Configuration verification and audit. Configuration verification and configuration audits ensure the

composition of a project’s configuration items is correct and that corresponding changes are registered, assessed, approved, tracked, and correctly implemented. This ensures the functional requirements defined in the configuration documentation have been met.

Section: Volume A
Explanation:
5.2.2.4 Group Creativity Techniques
Several group activities can be organized to identify project and product requirements. Some of the group creativity techniques that can be used are:
Brainstorming. A technique used to generate and collect multiple ideas related to project and product

requirements. Although brainstorming by itself does not include voting or prioritization, it is often used with other group creativity techniques that do.
Nominal group technique. A technique that enhances brainstorming with a voting process used to rank the

most useful ideas for further brainstorming or for prioritization.
Idea/mind mapping. A technique in which ideas created through individual brainstorming sessions are

consolidated into a single map to reflect commonality and differences in understanding, and generate new ideas.
Affinity diagram. A technique that allows large numbers of ideas to be classified into groups for review and

analysis.
Multicriteria decision analysis. A technique that utilizes a decision matrix to provide a systematic analytical

approach for establishing criteria, such as risk levels, uncertainty, and valuation, to evaluate and rank many ideas.

Section: Volume D
Explanation
Explanation:
4.3.3.3 Change Requests
A change request is a formal proposal to modify any document, deliverable, or baseline. An approved change request will replace the associated document, deliverable, or baseline and may result in an update to other parts of the project management plan. When issues are found while project work is being performed, change requests are submitted, which may modify project policies or procedures, project scope, project cost or budget, project schedule, or project quality. Other change requests cover the needed preventive or corrective actions to forestall negative impact later in the project. Requests for a change can be direct or indirect, externally or internally initiated, and can be optional or legally/contractually mandated, and may include:
Corrective action-An intentional activity that realigns the performance of the project work with the project

management plan;
Preventive action-An intentional activity that ensures the future performance of the project work is aligned

with the project management plan;
Defect repair-An intentional activity to modify a nonconforming product or product component;

Updates-Changes to formally controlled project documents, plans, etc., to reflect modified or additional

ideas or content.

Section: Volume E
Explanation/Reference: https://www.simplilearn.com/project-scope-management-importance-rar89-article

Explanation/Reference:
Explanation:
Process: 12.2 Conduct Procurements
Definition: The process of obtaining seller responses, selecting a seller, and awarding a contract.
Key Benefit: The key benefit of this process is that it provides alignment of internal and external stakeholder expectations through established agreements.
Inputs
1. Procurement management plan
2. Procurement documents
3. Source selection criteria
4. Seller proposals
5. Project documents
6. Make-or-buy decisions
7. Procurement statement of work
8. Organizational process assets
Tools & Techniques
1. Bidder conference
2. Proposal evaluation techniques
3. Independent estimates
4. Expert judgment
5. Advertising
6. Analytical techniques
7. Procurement negotiations
Outputs
1. .Selected sellers
2. .Agreements
3. .Resource calendars
4. .Change requests
5. .Project management plan updates
6. .Project documents updates