Project Management Module Exam

PROJECT MANAGEMENT MODULE (IFMA FMP) EXAM 2024-2025 QUESTIONS AND CORRECT VERIFIED ANSWERS /100% PASS SOLUTION / ALREADY GRADED A+ Which pre-project actions can be done to reduce risk and increase the probability of project success? Pre-select contractors Your answer is correct. Pre-selecting contractors sends out requests only to specific contractors who have been predetermined to be acceptable. Pre- qualifying contractors, bidder meetings, and bidder presentations are project-specific tasks and so would not be useful if run as a prior project. (Reference: 4-1-3) If an organization has narrowed the list of contractors submitting proposals but is still having trouble deciding between them, what might help? Bidder presentations Your answer is correct. Once proposals are received, organizations can use bidder presentations to help decide between proposals. A bidder presentation is a sales presentation that details the bidder's technical and management capabilities.(Reference: 4-1-3) A project manager wants to increase control and reduce risk for a project that will begin soon. What actions should the project manager take? _ Increase reporting frequency by installing reporting technology used by a different department. Your answer is correct. Increasing the frequency of reports increases the number of control points and reduces project risk. Reporting technology includes automation