Exam PMP topic 1 question 297 discussion

B. Risk analysis Explanation: Risk analysis is a key component of risk management in project management. Before launching a product into a production environment, the project lead should have identified and assessed risks associated with operational costs, performance, scalability, and sustainability. By conducting risk analysis early, the team could have: Identified potential cost overruns related to operations. Assessed the impact of these costs on project feasibility. Developed mitigation strategies (e.g., cost optimization, alternative solutions, or budgeting adjustments).

Correct answer is A. Before initiating a project, benefit analysis is needed so that the project charter can include which high-level features and requirements are required.

A risk analysis is the appropriate type of analysis to have conducted in this situation. By proactively identifying and assessing the risks associated with the operational costs of the product features, the project lead could have taken steps to mitigate or manage these risks before they posed a threat to the product's viability. A risk analysis would have involved: Identifying the risks: Recognizing the potential for high operational costs to impact the product features. Assessing the risks: Evaluating the likelihood and impact of the operational cost risks. Developing risk response plans: Determining strategies to address or mitigate the identified risks, such as exploring cost-saving measures or alternative feature designs. By conducting a thorough risk analysis, the project lead could have anticipated and planned for the operational cost challenges, allowing the team to address them proactively during the development process rather than facing the risk of feature cancellation during the iteration review.

risk analysis is best in this situation

This type of analysis identifies potential risks and their impacts on the project. It includes evaluating risks related to costs, schedule, performance, and operational impacts. By conducting a thorough risk analysis, the project lead could have identified the high operational costs as a potential risk earlier and developed mitigation strategies to address them.

B is more comprehensive answer. we are as PM need to be aware of every activity not only for CR things but the rest of the activities.

Benefits analysis

ChatGPT choose B and highlight is risk related.

The project lead should have conducted a B. Risk analysis. This type of analysis would have helped identify potential issues, such as high operational costs, that could pose a risk to the project. By identifying these risks early, the project team can develop strategies to mitigate them and avoid situations like the one described. However, it’s important to note that risk analysis should be an ongoing process throughout the project, as new risks can emerge at any time.

since the question is abt Agile method Option A is correct

benefit analysis. it is all about the business value (compared with the cost).

A , should do cost benefit analysis

I believe the risk analysis would apply if the costs were affecting the project itself. This operational costs affects the product, not the project which is the exercise done to deliver a product based on the requested deliverables established based on the cost benefit analysis done which was an input to the Develop Project Charter process. If the cost benefit analysis done properly in the project benefits management plan, then the cancellation of features would not have been a possibility.

To avoid the situation where product features are at risk of being canceled due to high operational costs, the project lead should have conducted a: B. Risk analysis A risk analysis would help identify potential risks and issues associated with the operational costs of the product in a production environment. This analysis would involve assessing the likelihood and impact of such risks and then developing risk mitigation strategies to address them. It allows the project team to proactively manage and mitigate risks related to operational costs before they become critical issues that could lead to feature cancellations.

B: Risk Analysis would have given a chance to mitigate or avoid risk entirely.

I've searched the internet. No such thing as Capacity Analysis. (There is capacity planning which is not related by definition) Gap Analysis talks about performance. There is a Cost-Benefits analysis but no Benefits Analysis only. Risk Analysis https://www.pmi.org/learning/library/risk-analysis-project-management-7070 In the article, there is a cost related analysis.

B. Risk analysis