A project team is reviewing project performance. During the execution phase, the project team discovers that there is an off-the-shelf (OTS) product, which could reduce the time line for development.
Why the other choices are incorrect:
A. Add the discovery to the assumptions.
➤ Incorrect. This is a potential opportunity, not an assumption. Assumptions are accepted as true without proof for planning purposes.
B. Evaluate the risk with the project team.
➤ Partially correct, but too generic. The term “risk” includes both threats and opportunities, but the better, more precise action is to conduct an opportunity analysis (choice C).
D. Update the project management plan.
➤ Premature. You should only update the plan after a proper analysis and decision has been made regarding whether to adopt the OTS solution.
C. Conduct an opportunity analysis with the team.
Explanation:
Discovering an off-the-shelf product that can potentially reduce the project timeline is a positive development and should be considered an opportunity.
A comprehensive opportunity analysis will involve:
Evaluating the OTS product's capabilities and compatibility with the project's requirements.
Assessing potential costs, benefits, and risks associated with adopting the OTS product.
Determining the impact on the project schedule, budget, and scope.
Developing potential implementation plans.
this one of the questions in today's exam [ 03/12/2024
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