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Q51. Which two items are completed during the Work Management close?
A. final backup and archiving of the project workplan
B. back up of the project diary
C. production of final schedule metric report
D. payment of all vendor invoices
E. reconciliation of open accounts payable
Note:Work Management - The objective of the Work Management process is to develop the work plan and to define and document the processes and policies to be used to execute, maintain, control and close-out the Project Workplan.
Q52. Which three items must be updated when scope changes are approved?
A. Project scope
B. Project budget
C. Project component value ratio
D. Project cost center
E. Project schedule
Project scope is the part of project planning that involves determining and documenting a
list of specific project goals, deliverables, tasks, costs and deadlines.
Q53. What is the most important aspect of closing the project?
A. Successful go-live.
B. End-user training is complete.
C. Project Team finds new assignments.
D. Formal client acceptance is gained.
Explanation: The Project Closure phase occurs after the Production phase. During this phase, the project is “closed” from an administrative and contractual standpoint. This includes making sure that the projectwork products are complete and meet the customer’s expectations; gaining final acceptance(D); andsecuring all documents for reuse, collection and retention.
Q54. What is the purpose of the Project Execution and Control Phase?
A. To prove the solution described in the scope document meets the project requirements.
B. To provide adequate visibility into actual progress so that management can take effective actions when necessary.
C. To successfully transition from the sales team to the delivery team.
D. To provide an adequate foundation for the Project Management Plan.
Explanation: Project Execution and Control runs concurrently with the Implement focus area phases. The purposeof the Project Execution and Control Phase is to provide adequate visibility into actual progress so thatmanagement can take effective actions when the project’s performance deviates significantly from theproject plans. The Project Execution and Control Phase includes tracking and reviewing the projectsaccomplishments and results against documented WBS, project estimates, time schedule, resourcesplan, and cost budget, and adjusting these plans based on the actual accomplishment and results.
Q55. What describes the initial Iteration Plan for the Inception phase?
A. It is a static plan, which is set during Bid Transition.
B. It is created in the Project Startup Phase.
C. It focuses on the milestones for the Elaboration Phase.
D. It is not needed because Inception is a short phase.
Note: The overriding goal of the Inception phase is to gain concurrence among all stakeholders on the lifecycle objectives for the project. The Inception phase is critical for all projects because the scope ofthe effort, the high-level requirements, and the significant risks must be understood before the projectcan proceed. The Inception phase is used to kick off a project; review the strategic direction of thebusiness; and confirm, document, and prioritize the high-level business requirements for the project. It is also the time to begin assembling and integrating the project team, to scope the entire engagement,and develop the initial project plan.
Abreast of the times 1Z0-466 free question:
Q56. Which three statements are true about the various plans used In OUM during Project Execution Control.
A. Once created, the implementation Plan is never updated.
B. The subsequent Iteration Plan is created prior to the beginning of the next iteration.
C. The Project Management Plan should be updated, as appropriate.
D. The subsequent Iteration Plan is created as soon as possible after the Iteration begins.
E. The current Iteration Plan is adjusted, as appropriate.
B:Subsequent Iteration Plan is created prior to the iteration beginning.
E:During each iteration, the current Iteration Plan is adjusted.
*There are two plans active in the project at any given time – the implementation plan and
the iteration plan.
Q57. Select the three statements that are true about the OUM Manage focus area.
A. It is aligned with the Project management Institute’s Project management Body of Knowledge (PMBOK).
B. It is Oracle’s standard is on configuration of applications.
C. Its main focus is on configuration of applications.
D. It is appropriate for managing all types of Oracle Consulting engagements.
E. It is used to gather requirements and analyze, design, build, and test custom software.
F. It provides a framework for development of services that supports enterprise or strategic-level interactions.
Explanation: Project management enables the project manager to manage delivery of an agreed upon level of solution quality while planning for and controlling the scope, cost, and schedule.
The Manage focus area has three phases:
Project Start Up Phase
Project Execution and Control Phase
Project Closure Phase
Q58. What must the project manager determine when scaling the Manage Focus Area to the project?
A. Which of the 13 OUM Manage processes should be eliminated or expanded
B. How to reduce the quality of the project deliverables.
C. Which work products should be expanded, reduced, or consolidated based upon the scope, objectives, approach, and risks of the project.
D. Which two products should be expanded, reduced, or consolidated based upon the project scope and customer preferences.
Explanation: The Manage focus areais organized into 13 processes.
Collectively, these processes form a comprehensive set of tasks required to manage Oracle-based development and implementation projects. Every project includes most, if not all, of these processes,whether they are the responsibility of a consulting organization, a client organization, or a third party.
Bid Transition Scope Management Financial Management Work Management Risk Management Issue and Problem Management Staff Management Communication Management Quality Management Configuration Management Infrastructure Management Procurement Management Organizational Change Management
Q59. Select two objectives of the OUM Manage Project Execution and Control phase.
A. Manage the project resources to deliver on time and in budget.
B. Gain project acceptance.
C. Release staff.
D. Execute against the Project Management Plan.
Explanation: Integration of the Manage focus area phases with the Implement focus area phases is illustrated below:
Note: The Manage focus area has three phases: *Project Start Up Phase *Project Execution and Control Phase *Project Closure Phase
Reference:OracleUnified Method (OUM)Oracle’s Full Lifecycle Method for Deploying Oracle-Based Business Solutions
Q60. What is not an approach for risk mitigation?
A. Reducing the probability of occurrence by choosing an alternate approach
B. Reducing the impact of the risk by having a plan in place to immediatelyreadto the event.
C. Accepting some of the risks and adding them to the Issues log since they will probably become an issue anyway.
D. Accepting some of the risks from the onset and controlling those risks throughout the project lifecycle.