What should the project manager do, among others, to avoid exceeding the project budget?

• A. Eliminate exploitation costs
• B. Retain records of project costs and monitor expenses
• C. Avoid at all costs making changes in the project plan which would require additional costs

According to PMBOK, what is the definition of Earned Value Analysis (EVA)?

• A. An earned value management measure that indicates how efficiently the work is being performed with regard to the budgeted cost of the work
• B. The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost
• C. A method that utilizes a set of measures associated with scope, schedule, and cost to determine the cost and schedule performance of a project

What is an advantage of using ISO 21502?

• A. Organizations have advancing opportunities to transform ideas into tangible and intangible deliverables, outputs, outcomes, and benefits
• B. Both A and B
• C. Organizations enhance their strength through project implementation

Scenario:
Mallebare is an American company which designs and manufactures gaming accessories. Apart from keyboards, mice, and controllers, the company also manufactures high-quality headsets for which it is widely known. Recently, upon the request of numerous gamers, the company decided to manufacture mousepads too.
For this project, Luke, the CEO of the company, assigned Ross, a senior designer of the company, as the project manager, whereas Smith, a senior engineer, was assigned as project sponsor. In addition, Luke stated the project should be complete within three months, as the company is aiming to promote the mousepads in a major gaming tournament. Lastly, Luke required them to utilize the guidelines of ISO 21502 to manage the project.
Initially, Ross mobilized the team and held a meeting with them to discuss and develop the project plan. He asked the team members to ensure that major functional aspects of the project are covered in the project plan and to identify any issue that might arise throughout the project life cycle. Ross explained that this request comes as a result of the tight deadline of the project and the team must develop a concise plan. Ross added that the plan will not be changed in any circumstance and will be followed in detail.
Following that, Ross and the team discussed the engagement of all relevant stakeholders throughout the project. Ross used a power/interest matrix to categorize all stakeholders in four different groups, where the tournament organizers were categorized as stakeholders with low interest but high power in the project. On the other hand, end users, the gamers, were categorized as stakeholders with high interest and high power in the project, so the project team created a survey to determine their needs and requirements.
Moreover, Ross was aware of the importance of effective communication for the success of the project.
Therefore, he developed a communication plan which would ensure that each individual involved in the project gets the right information in a timely manner. The plan indicated that ad hoc discussions would be conducted in more complex and personal cases, whereas notes and text messages would be used for transmitting simple and factual information. Ross claimed that this model had been successful in previous projects conducted by the company because it allows faster processing of information and includes natural use of language. In addition, Ross determined that a relationship among project team members needs to be established to ensure productive work.
Question:
Ross required the team to develop a concise plan which will be followed in detail and that will not be changed in any circumstance. Is this compliant with ISO 21502?

• A. Yes, the project plan cannot be changed at any case once it is developed
• B. No, the project plan should be monitored and can be changed only prior to the execution phase
• C. No, the project plan should be monitored and can be updated, when required

Arka, a manufacturing company, has initiated a project together with two other companies. Jim, who is the CEO of Arka, has suggested that the project board consist of representatives from each company instead of only Arka's personnel in order to increase transparency. However, the representatives of the other companies disagreed, claiming that this would not be compliant with ISO 21502 guidelines. Instead, they are suggesting that they outsource the function of the project board to avoid conflicts of interest. Is this in compliance with ISO 21502?

• A. No, according to ISO 21502, the three companies should unanimously choose only one company whose representatives will act as the project board and not include representatives from all companies
• B. Yes, ISO 21502 suggests that companies outsource their project board function in order to avoid conflicts of interest when working in a joint project
• C. No, ISO 21502 states that the project board can include representatives from each company if they are working in a joint project