Few Doubts

Discussion in 'PMP' started by _15734, May 17, 2018.

  1. _15734

    _15734 Member

    Joined:
    Nov 15, 2017
    Messages:
    11
    Likes Received:
    1
    @tim jerome

    Had a couple of doubts...

    1. What is the key difference between the Exploit and Enhance risk responses. Can we take the 'Coach coming to restaurant' example to explain both?
    2. Saw questions on Agile in the projectmanagement.com (like Velocity, story points etc) Should we expect these on the exam?
    3. Are 'Raw materials' also resources?
     
    #1
  2. tim jerome

    tim jerome Well-Known Member
    Trainer

    Joined:
    May 15, 2015
    Messages:
    1,459
    Likes Received:
    384
    Exploit is investing in the project. The PMBOK (p. 444) says this is for opportunities with a high level of opportunity, ensuring the opportunity will definitelyExp happen. You are modifying some component of the project - changing the plan. For our project of ensuring the opportunity of the sports banquet, we will outsource the menu to a catering company.

    Enhance is to increase the probability / impact. This sounds a LOT like Exploit, but first the probability is not driven to 100%. The PMBOK further says "... where it is not possible to increase probability, an enhancement response might increase the impact by targeting factors that drive the size of the potential benefit."

    Exploit ensures that the opportunity occurs. Enhance is a modification to probability and possibly impact. Where Exploit was bringing in the catering company, Enhance will bring a couple trainers in to bring the wait staff trained in a shorter time.

    *****

    You might see agile questions. We trainers do our best to review the topics that are represented in the PMBOK. You could have a question on story points, but only to the point that you understand they are used for estimation, setting a relative weight instead of relying on effort/duration. The details of the concepts go beyond the scope of the PMBOK. We are just now getting feedback from test takers post-March 26, and will refine our understanding as we move forward. Up until now, new concepts seem to be approached in the above manner.

    *****
    The general categories of resources are:
    • Materials - nuts and bolts, and other items needed to create the deliverable. This is the category for your raw materials.
    • Labor - laborers and engineers.
    • equipment - shovels and cranes.
    • Supplies - cases of bottled water, when your team is outside in the Summer heat.
     
    #2
  3. _15734

    _15734 Member

    Joined:
    Nov 15, 2017
    Messages:
    11
    Likes Received:
    1
    Nice. Thanks @tim jerome! Lucid explanation.. as always!
     
    #3

Share This Page