Question

1) Which of the following questions might a stake-holder or a senior executive NOT ask during a review of a Decision Tree which is used for the basis of a project decision:

A) What is the basis for the estimated income levels of the various project alternatives displayed on the decision tree?

B) Can you show me the historical data used to base the probability of a particular decision choice?

C) Can you reduce the number of decision nodes on the Decision Tree (so it is less confusing) ?.

D) Given that the project is being done in multiple countries, how recent is the cost conversion data t o US Dollars?

2) Before a PM goes back to the stakeholders to request approval to proceed with a proposed solution to get a project back on track, the following should be done:

A - Complete a change control process for the proposed solution

B - Re-baseline the schedule

C - Make sure that the performing organization can support the proposed solution

D - Update the Risk Management Plan

Answer 1

Answer 1: Option C - Can you reduce the number of decision nodes on the Decision Tree (so it is less confusing)

Explanation: The decision trees are often complex and entail large network structure to arrive at a decision. The different nodes have a vital significance where they cannot be removed to make the diagram simpler.

Answer 2: Option D - Update the Risk Management Plan

Explanation: The most important reason for a project to deviate from the normal course is the various unaccounted risks which should be defined at the time of project charter making. Before going to stakeholders, the risk management plan should be updated.