PMP micro learning videos Series - PMP Free Question 4: Assessment of the Lesson Learned

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PMP micro learning videos Series - PMP Free Question 4: Assessment of the Lesson Learned

Fri Mar 01, 2019 6:30 am

You are doing an assessment of the lesson learned from previous projects to support the feasibility of new product or services, what will be your next step
Here are four options….
A. Prepare Business Case
B. Prepare Project Charter
C. Prepare Requirement Documentation
D. Prepare/Update Assumptions

Let’s find the best answer
Prepare Business Case- Business Case is a documented economic feasibility study to establish the validity of the benefits of a product/service development and also used as a basis for the authorization of further project management activities.

Prepare Project Charter - The project charter authorizes the existence of a feasible and viable project and includes project assessment based upon available information, lesson learned from previous projects, to support the evaluation of the feasibility of new product/service.
The project charter is issued by the project sponsor that formally authorizes the existence of a project. It documents the high-level information on the project. Overall project risks are documented in Project Charter.
Prepare Requirement Documentation - This document describes how individual requirements are meeting the business need for the project and based on economic feasibility; it also includes high-level details of why a project has been undertaken.
Prepare/Update Assumptions- An assumption is a factor that is considered to be true, real, or certain, without proof or demonstration.
Assumptions are also updated related to the feasibility of a project coming from past project’s lesson learned analysis.

What do you think the best answer?
What Questions is hinting?
The project is not yet initiated, and you are assessing the previous project’s lesson learned to initiate the project.
And you do not have requirement document yet.
Which means:
You are at the first process of the project management, and at this stage, an assessment of the project can be done using available information and past project’s lesson learned.
It is a kind of re-assessment after Business Case development and approval which serves as available information to assess past project’s lesson learned.

Which do you think will fit the best here?
The correct answer is “Prepare Project Charter”

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