PMP Question #319: Real Exam Question with Answer & Explanation

Question

A retail chain is evaluating a project to replace payment systems across all its stores in multiple locations. The project does not pass the financial threshold but is also expected to increase market share, improve customer services, and retain more customers. The project is planned as a phased implementation, building on learning from the retrospectives during each phase. How should the business increase the value of the project?

Options

• AAsk the benefits owner to reassess the identified risks that are impacting the outcomes of the
• BUse a fishbone diagram to find the root cause of the lower financial benefits with the benefits
• CConsult with experts on methods to reduce costs and increase the financial value of the project.
• DQuantify the expected tangible and intangible benefits in the benefits management plan for each

Explanation

To enhance the perceived value of a project that extends beyond pure financial metrics, the business should thoroughly quantify all expected tangible and intangible benefits within its benefits management plan.

Common mistakes.

• A. Reassessing risks is part of risk management and might help optimize outcomes, but it doesn't directly address the need to highlight and quantify the value of non-financial benefits.
• B. A fishbone diagram helps identify root causes of problems, in this case lower financial benefits, but the problem statement implies there are other benefits not being adequately valued, not just a problem with financial benefits.
• C. Consulting experts to reduce costs and increase financial value focuses solely on the financial aspect, whereas the project's strength lies in its non-financial benefits that need to be recognized and quantified.

Concept tested. Project benefits realization and management

Reference. https://learn.microsoft.com/en-us/dynamics365/project-operations/deal-management/project-benefits-management

No community discussion yet for this question.