You are a consulting project manager and an investment bank has a contract with you to run a large information technology project that is expected to last 15 months. During the Direct and Manage Project Work process, you discover that several regulatory requirements were addressed in the project management plan but missed from the scope statement. Failure to meet these requirements could result in legal action against the company. However, implementing the technology to comply with these regulations could exceed the budget and scope of the project and result in the cancellation of the project. What should you do?

Once the project charter is authorized, it is the project manager’s duty to distribute the charter to all key stakeholders and ensure common understanding of the key deliverables, milestones, and their roles and responsibilities. During which of the following processes is the project charter distributed to the project stakeholders?

The organization’s strategy provides a strategic direction and performance parameters for identifying, selecting, and delivering the right mix of projects. If it is determined that some of the CEO’s favorite projects do not fully align with the business objective, the PMO manager must:

The agile technique of on-demand scheduling is not suitable when:

The Risk Register contains details of all identified risks and their current status. It is a document containing the results of:

You are in charge of constructing the Ferris wheel in each town a carnival visits. However, this is something you have never done before, and you are getting different opinions from others on how long it takes. Joe is new and has given you what you believe to be an optimistic estimate of three hours; Bill says it will take 10 hours, which seems too long to you and quite pessimistic. Last, Margie, who is the most experienced at this task, is telling you it will take eight hours. You are not sure whom to believe, so you decide to do three-point estimation (based on beta distribution). Based on this, how many hours will it take you to assemble the Ferris wheel?

A project has gone out of control, and the project manager is trying to bring it back under control. There have been a number of changes to the project scope. Some of these changes resulted in further changes, causing project cost to spiral upward and causing the project to go out of schedule. This is known as:

Mandatory dependencies are those that are inherent in the nature of the work being done. They often involve physical limitations, such as on a construction project when it is impossible to erect the superstructure until the foundation is built. According to the PMBOK, a mandatory dependency is also:

You are managing a complex software development project for an external customer. You are using the waterfall approach to manage the project in line with the contractual requirements. However, you are not comfortable with this approach. You believe that customers don't really know what they want upfront; rather, what they want emerges out of repeated two-way interactions over the course of the project. In your current situation, the waterfall approach has its emphasis on upfront requirements capture and design, followed by product development and finally the system testing. The customer will only be involved during the requirements gathering and system testing stages and will be completely out of touch during the development activities. Which of the following can help you mitigate the risk created by the waterfall approach:

Lucy is managing a website development project in an agile environment. She wants to create a burndown chart to present the project’s progress to the stakeholders. She adds a diagonal line representing the ideal burndown and a line for daily actual remaining work. She now needs to show the likely variance at the iteration completion. What should she do?