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2021 Jan 1Z0-466 practice exam
Q61. The OUM Manage Focus Area is aligned with what project management organization?
A. Project Management Institute (PMI)
B. Project Management Organization
C. Project Managers of the World
D. NationalInstitute of Project Managers
E. International Institute of Business Analysis (IIBA)
Q62. Select the three benefits of the Oracle Unified Method (OUM).
A. It provides a common language.
B. It reduces duplication of effort.
C. It reduces confusion.
D. It provides better templates.
E. It provides a collection of samples.
Explanation: BC:More Cost Effective – OUM facilitates improved control of project expenses by using a flexible work breakdown structure that allows you to perform only necessary tasks.
D:The OUM offering provides you with a comprehensive toolkit:
/Overview Material – Provides an overview of OUM's approach to IT projects, including the industry standards upon which OUM is based.
/Guidelines – Phase, process, task, role, and work product guidelines cover every aspect of an Oraclebased business solution.
/Templates – Templates enable fast and easy creation of high quality work products.
/Tailored Work Breakdown Structure – These standards enable an easy start in managing your project.
*The Oracle Unified Method (OUM) is Oracle’s standards-based method that enables the entire Enterprise Information Technology (IT) lifecycle. OUM provides an implementation approach that is rapid, broadly adaptive, and business-focused. OUM includes a comprehensive project and program management framework and materials to support
Oracle’s growing focus on enterprise-level IT strategy, architecture, and governance.
Oracle’s Global Methods team has packaged OUM to accelerate your IT projects. OUM presents an organized, yet flexible, approach. Its defined, operational framework helps anticipate critical project needs and dependencies. With OUM, you can move efficiently through the IT lifecycle to quickly achieve measurable business results.
Q63. Which three variables are used with Earned Value?
A. EV - Earned Value
B. PV - Planned Value
C. AC - Actual Cost
D. PC - Planned Cost
E. EC - Earned Cost
F. AC - Accounting Cost
Explanation: EV – earned value, estimated value of work done. PV – planned value, estimated value of planned work AC – actual cost, what you paid
Q64. Select the two plans that are always active in the project at any given time.
A. Transition Plan
B. Training Plan
C. Implementation Plan D. Iteration Plan
E. Inception Plan
Explanation: There are two plans active in the project at any given time – the implementation plan and the iteration plan.
Up to date 1Z0-466 free exam:
Q65. Which is a recommended starting point when building a project workplan?
A. OUM Implement Core Workflow
B. OUM Implement full work breakdown structure
C. The OUM Inception Phase work breakdown structure
D. The work products identified from the scope of work
Explanation: In OUM, this principle is extended to refer to the execution of the method processes themselves. Project managers and practitioners are encouraged to scale OUM to be fit-for-purpose for a given situation. It is rarely appropriate to execute every activity within OUM. OUM provides guidance for determining the core set of activities to be executed, the level of detail targeted in those activities and their associated tasks, and the frequency and type of end user deliverables. The project workplan should be developed from this core. The plan should then be scaled up, rather than tailored down, to the level of discipline appropriate to the identified risks and requirements.
Note: *To develop our Project Workplan, we have several options. We can employ a top-down approach and start with all of OUM and tailor it down. We can employ a bottom-up approach and start with the Core Workflow and build up from there. The best approach is probably to start with the workplan that most closely matches our engagement and tailor up and down. That is, immediately tailor down to a pre-tailored Workplan and continue to tailor from there based on the requirements of the engagement, while simultaneously keeping in mind the Core Workflow and building up from there.
*tailoring of the actual OUM Project Workplan for your project for activities and tasks (tailoring steps 2.0 through 5.2) including tips for applying a bottom-up as well as a top-down technique for tailoring the Project Workplan. For our example, we are starting with the OUM Project Workplan that is located in the Method Resources section of the Key Components of most view pages. In OUM 5.6, a new Project Workplan template was introduced with pre-tailoring capability for most Implement views.
Q66. Select the three key project roles as prescribed by OUM Manage.
B. Change Control Board
C. Issue Review Board
D. Project Team
E. Testing Committee
Explanation: A:Project managers use OUM to make sure they and their stakeholders develop a shared understanding of what is needed, choose an appropriate architecture, and transfer the ownership of the end-product to the stakeholders.
B:CCB(Change Control Board)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:Project teams to take advantage of this experience by leveraging these leading practices along with industry standards.
Q67. Select the three statements that are true about the Project management Plan.
A. It is created in the Manage Project Execution and Control phase.
B. It is the single most important work product produced by the project manager.
C. Its main focus is on scheduling the project.
D. It is created by the project manager and the client.
E. It is a conceptual work product comprised of process components detailing the tools and/or approach for each OUM Manage process.
F. It provides a framework for the Analysis and Design processes.
Explanation: *In OUM Manage, one of the first activities that occur during the Project Startup phase involves the Project Manager and the client (Project Sponsor) jointly creating the Project Management Framework. This framework establishes the ground rules for the project and is the first step in communicating, establishing trust, and setting expectations.
The key focus for the remainder of the Project Startup Phase is to evolve the Project Management Framework into a detailed Project Management Plan based on the agreed upon foundation.
*The project manager creates the project management plan following input from the project team and key stakeholders. The plan should be agreed and approved by at least the project team and its key stakeholders.
Incorrect: Not A: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.
Q68. Select three benefits of using the OUM Manage Focus Area on an implementation.
A. It manages acceptance of work products.
B. It focuses on accurate estimating.
C. It supports improved communication.
D. The client creates and produces project plans that drive the project.
E. It encourages early client involvement.
F. It allows for quicker project durations.
Explanation: /The Manage focus area provides a framework in which all types of projects can be planned, estimated,controlled, and completed in a consistent manner. Oracle’s Project Management Method (PJM) is partof the Manage focus area. Consistency is required in today’s business environment, where projectsoften implement packages, develop application extensions, and create a data warehouse in order tosatisfy a business need.
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
/Collectively, the processes listed below 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.
The Manage focus area is organized into 13 processes: Bid Transition Scope Management Financial Management
(A)Work Management Risk Management Issue and Problem Management Staff Management
(C)Communication Management Quality Management Configuration Management Infrastructure Management Procurement Management Organizational Change Management
/OUM Manage Focus Area