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2016 Aug 1Z0-466 exam cram

Q21. Which two statements are true about the Change Control Board (CCB)? 

A. It meets daily during Project Execution and Control. 

B. It is an internal project organization that is responsible for reviewing and resolving change requests. 

C. It is a person, group, or business that has a shared interest in a particular set of activities. 

D. It escalates changes affecting scope to the steering committee. 

Answer: B,D 

Explanation: B:CCB is a review committee that discusses and approves requests for changes to On Demand customer system configurations. The change requests are fulfilled in the following ways: 

A work guideline is generated by engineering for operations to use and implement. 

The changes are included in Oracle Certified Configurations. 

D:A Steering Committee is a group of high-level stakeholders who are responsible for providing guidance on overall strategic direction. They do not take the place of a Sponsor, but help to spread the strategic input and buy-in to a larger portion of the organization. The Steering Committee is usually made up of organizational peers and is a combination of direct clients and indirect stakeholders. Some members on the Steering Committee may also sit on the Change Control Board. 


Q22. At the end of iteration phase, during Project Execution and Control,which three key tasks should be conducted? 

A. QM.050 Perform Quality Assurance 

B. WM.050 ManageApprovals 

C. CMM.030 Manage Project Team Communication 

D. PKM.020 Conduct Baseline Risk Assessment 

E. SM.060 Close Scope management 

F. PKM.060 Conduct Post-Production Risk Assessment 

G. OCHM.040 Establish Follow-Up process 

Answer: A,B,C 

Explanation: 

Note: 

Incorrect: 

Not D: Belongs to project start up-

Not E: Belongs to project closure. 

Not F: Belongs to project closure. 

Not G: Belongs to project closure. 


Q23. Select the threeconstraints that are missingin this TripleConstraint triangle. 

A. Usability 

B. Scope 

C. Cost 

D. Complexity 

E. Product 

F. Schedule 

Answer: B,C,F 

Explanation: *Scope, Time & Cost together are termed as the Triple Constraints of a Project. 

*Risk avoidance involves changing the project plan to eliminate therisk or to protect the project objectives (time, cost, scope, quality) from itsimpact. The team might achieve this by changing scope, adding time, oradding resources (thus relaxing the so-called “triple constraint”) 

Note: 

https://blogs.oracle.com/smarks/resource/triple-constraint.gif 


Q24. An ___________ is a distinct set of activities conducted according to a devoted plan and evaluation criteria that results in a release, either internal or external. 

A. Iteration 

B. Internal 

C. Increment 

D. Approach 

E. Implement 

Answer: A 

Explanation: Iterative and Incremental OUM recognizes the advantages of an iterative and incremental approach to development and deployment of information systems. Any of the tasks within OUM may be iterated. Whether or not to iterate, as well as the number of iterations, varies. Tasks may be iterated to increase quality of the work products to a desired level, to add sufficient level of detail, or to refine and expand the work products on the basis of user feedback 


Q25. Which three steps are completed during Financial Close? 

A. Production of final reports 

B. Payment of outstanding invoices 

C. Mass reconciliation of open accounts 

D. Wrap up of items tracked throughout the project E. Vendor selection 

Answer: A,B,C 

Explanation: á: Example: Run Invoice On Hold Report 

B: Clear outstanding invoices 

Note: *helps manage all financial close cycle tasks, including ledger and sub-ledger close, data loading and mapping, financial consolidation, account reconciliation(C), tax/treasury and internal and external reporting processes – any task associated with the extended financial close. 


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Update 1Z0-466 test questions:

Q26. According to the recommended training for this exam, what is the "triple constraint"? 

A. time, resources, quality/scope 

B. time, quality/scope, performance 

C. client availability, budget, modifications 

D. products licensed, service requests limits, annual maintenance 

Answer: A 

Explanation: *Scope, Time & Cost together are termed as the Triple Constraints of a Project. 

*Risk avoidance involves changing the project plan to eliminate therisk or to protect the project objectives (time, cost, scope, quality) from itsimpact. The team might achieve this by changing scope, adding time, oradding resources (thus relaxing the so-called “triple constraint”) 

Note: 

https://blogs.oracle.com/smarks/resource/triple-constraint.gif 


Q27. Selectfourobjectives of the OUM Manage Project Start UP phase. 

A. Manage the project resources to deliver on time and budget. 

B. Understand the client’s objectives and expectations and validate project scope. 

C. Close out the contractual agreement. 

D. Baseline in Project Workplan, Finance Plan, and staffing needs. 

E. Obtain a client reference. 

F. Agree with the client on project approach and document it in the Project Management Plan. 

G. Establish the project infrastructure. 

Answer: B,C,D,F 

Explanation: 

Note: 

*The Project Start Up phase precedes the Inception phase. Project startup is where all of the projectplanning activities take place and where policies, procedures, and strategies are defined for each of theprocesses, which govern the conduct of the engagement. 


Q28. What is true about the Work Management Plan? 

A. It outlines the major milestones of the project. 

B. It is a document produced during the contract process. 

C. It documents the strategy, control processes, and policies that are used to manage, support, and implement the work during the project. 

D. It is produced by the Configuration Management team. 

E. It defines the competencies of the project team. 

Answer: C 

Explanation: 

Note: 

*The purpose of the Work Management Plan is to establish procedures for defining, 

monitoring, and directing all work performed on the project. 

*The Work Management Plan should clearly state the procedures for defining, 

documenting, gaining agreement on, and communicating the project’s work plan and the 

processes to be used for which the plan would be executed and controlled. 

The project work plan is the hub of project management as it denotes all activities that the 

team will be participating in within the project’s scope, objectives, and approach and it 

provides a repository of data that the project manager can utilize to manage the project to 

plan. Processes that would be used for work plan execution and control would include the following: 

.Developing the Baseline Project Work Plan 

.Controlling the Work Plan through the life cycle of the project. 

.Executing the Work Plan 

.Managing Team Work 

.Managing Team Time 


Q29. What does OUM Manage recommend for stakeholder involvement? 

A. the project sponsor is the only stakeholder involved in Bid Transition 

B. the steering committee is formed during Project Execution and Control 

C. stakeholders be engaged early in the project 

D. only internal stakeholders should identify risks and issues 

E. work products are reviewed by all stakeholders identified in the contract 

Answer: C 

Explanation: 

Note: *Where is Stakeholder Management in OUM? Stakeholder Management typically falls into the purview of the Project Manager, which means much of the associated guidance is found in the OUM Manage Focus Area (a.k.a. Manage). There is also a good deal of content related to the discipline of Stakeholder Management contained in the Implement Focus Area (a.k.a Implement). 

There is no process in Manage named Stakeholder Management, but this “touch point” can be found in a variety of other processes including Bid Transition (BT), Communication Management (CMM) and Organizational Change Management (OCHM). 

. Stakeholder Management starts in the Bid Transition process with Stakeholder Analysis. 

. This Stakeholder Analysis is used to build the Project Team Communication Plan in the Communication Management process. 

. Stakeholder Management should be executed during the Execution and Control phase. For example, as issues are resolved, the project manager should take the action item to follow up with the affected stakeholders to ensure they are aware that the issue has been resolved. 

. The broader topic of Stakeholder Management is also addressed very thoroughly in the Organizational Change Management process in the Implement Focus Area, which is a touch point to the Organizational Change Management process in Manage. 


Q30. Which statement is true about the Project Management Plan and the Project Workplan in OUM? 

A. They are the same document. 

B. A change to one may necessitate a change to the other. 

C. The Project Management Plan does not change after Project Startup, while the Project Workplan may change at anytime. 

D. The Project Workplan and Project Management plan have no Impact on one another. 

Answer: B 

Explanation: *OUM Manage provides the framework for consistently managing a project regardless of the project approach. The project manager must be familiar with the project approach being used, and must make the necessary adjustments in the Project Management Plan (as well as in the Project Workplan) to incorporate the concepts and activities that support the given approach.The same concepts apply to projects using offshore resources or third parties. *OUM Manage and Other Project Approaches OUM Manage can be used with any project approach. OUM Manage does not required any specific project approach. The project manager should adjust the Project Management Plan and Project Workplan in order to execute the project following the designated project approach.