Business Analysis Frameworks

${27}^{th}$ Feb $2024$

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The project sponsor informed the project manager that they have doubts about whether the resulting product will satisfy business demands. Therefore, they are looking to keep costs to a minimum. What should the project manager do$?$

a$.$ Identify and implement the requirements for making a Minimum Viable Product $($MVP$).$

b$.$ Gather all requirements and execute the project using an incremental approach.

c$.$ Exclude certain stakeholders from the scope definition process to limit requirements.

d$.$ Sign with the sponsor a fixed cost contract to limit project costs.

A project manager is examining the investment efficiency of two potential projects. Knowing that the discount rate is unknown, what should the project manager do$?$

a$.$ Select the project with the highest ROI.

b$.$ Select the project with the lowest ROI.

c$.$ Select the project with the highest NPV$.$

d$.$ Select the project with the lowest NPV$.$

An organization is deliberating over two potential projects that have the same payback period. After doing a benefit measurement analysis, the project manager finds out that project A has a lower Internal Rate of Return $($IRR$)$ then project $B.$ What project should the organization choose?

a$.$ Project $A$

b$.$ Project $B$

c$.$ There is no difference.

d$.$ The available information is not enough to decide.

A project manager receives a document from the customer containing the new project's understand certain requirements, outputs, and most importan the project's goal. What should the project manager do next?

a$.$ Ask the customer for clarifications.

b$.$ Reject the new project as it involves a lot of ambiguity.

c$.$ Start planning the first iteration.

d$.$ Acquire a team to help analyze the project requirements.