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A project manager buys an extended warranty for a set of servers. Which of the following risk management strategies is the manager using?
Transfer is a risk management strategy that involves shifting the responsibility or impact of a risk to a third party, such as an insurance company, a vendor, or a contractor1. By buying an extended warranty for a set of servers, the project manager is transferring the risk of server failure or malfunction to the warranty provider, who will cover the cost of repair or replacement in case of a risk event.This way, the project manager reduces the exposure and liability of the project to the risk, while still retaining some level of accountability and oversight2.Reference=CompTIA Project+ PK0-005 Certification Study Guide, Chapter 8: Planning Projects Part 4, page 245;4 Risk Management Strategies for Successful Project Execution, Risk transferring section;How to Manage Project Risk: A 5-Step Guide, Risk treatment section.
While working with a contractor, the project manager identified a communication conflict. The contractor did not agree that there was an issue. Which of the following should the project manager and contractor review?
The project manager and contractor should review the vendor rules of engagement, which are the guidelines and expectations for the communication and interaction between the project team and the contractor. The vendor rules of engagement can help to prevent or resolve communication conflicts by clarifying the roles and responsibilities, the frequency and mode of communication, the escalation process, the feedback mechanism, and the performance evaluation criteria of the contractor. The vendor rules of engagement are usually part of the contract or the procurement management plan.
The vendor rules of engagement are different from the scope of work, which is the document that describes the work to be performed, the deliverables to be provided, and the acceptance criteria to be met by the contractor. The vendor rules of engagement are also different from the request for proposal, which is the document that solicits proposals from potential contractors by specifying the project requirements, evaluation criteria, and contract terms. The vendor rules of engagement are also different from the project schedule, which is the tool that displays the planned start and finish dates, durations, dependencies, and resources of the project activities and tasks. Reference = CompTIA Project+ Study Guide: Exam PK0-005, 3rd Edition, Chapter 12: Procurement Management1; CompTIA Project+ Certification Study Guide, 3rd Edition, Chapter 12: Procurement Management2; Vendor Rules of Engagement3
A project team is reviewing the project plan and related documents and identifies tasks that could be spread into smaller deliverables. Which of the following documents should the team edit first?
The Work Breakdown Structure (WBS) is a hierarchical decomposition of the total scope of work to accomplish project objectives. If tasks can be broken into smaller deliverables, the WBS should be updated first to reflect these changes.
According to the CompTIA Project+ PK0-005 exam objectives, under Domain 2.2: Given a scenario, determine the appropriate scope management activities, maintaining an accurate WBS is crucial for effective scope management.
A project team is working remotely from different locations across the country. As part of a lessons-learned exercise, the project manager would like to
identify the level of engagement among project team members. Which of the following would be the best tool for the project manager to use?
A real-time survey is a tool that allows the project manager to collect feedback from the project team members in an interactive and timely manner. A real-time survey can measure the level of engagement, satisfaction, motivation, and performance of the team members, as well as identify any issues, challenges, or opportunities for improvement. A real-time survey can also increase the participation and collaboration of the team members, as they can see the results and comments of their peers instantly. A real-time survey is more effective than a meeting chat, an email, or a whiteboard, as it can reach a larger and more diverse audience, provide more structured and quantitative data, and avoid distractions and interruptions. Reference = CompTIA Project+ Study Guide: Exam PK0-005, 3rd Edition, Chapter 10: Project Closure, p. 367; The 9 best online survey apps in 2023 | Zapier
A member keeps bringing up unrelated topics during a team meeting. Which of the following should the protect manager do to keep the discussion on track?
