CBAP Exam Dumps - IIBA Certified Business Analysis Professional Questions and Answers

 A milestone is a term used to describe a major deliverable or key event in the project used to measure project progress. A milestone is a significant point in time that marks the completion of a specific scope of work or a specific objective. A milestone can also be a checkpoint that indicates the readiness of the project to move to the next phase or stage. A milestone can be used to monitor and control the project schedule, budget, quality, and risks. A milestone can also be used to communicate the project status and achievements to the stakeholders and sponsors. A milestone is usually associated with a specific date and has no duration. References: IIBA BABOK Guide v3, section 5.1.3, page 163; CBAP / CCBA Certified Business Analysis Study Guide, 2nd Edition, chapter 6, page 233; CBAP Sample Questions, question 233.

The lessons learned document is a document that captures and documents the successes, opportunities for improvement, failures, and recommendations for improving the performance of future projects or project phases. The lessons learned document is updated throughout the project lifecycle, not just at a specific phase. Updating the lessons learned document throughout the project lifecycle helps to ensure that the valuable knowledge and experience gained from the project are recorded, shared, and applied in a timely and effective manner. It also helps to avoid repeating the same mistakes or missing the same opportunities in the current or future projects1. The lessons learned document is updated at the end of each project phase or iteration, or whenever a significant event or change occurs in the project. The lessons learned document is also reviewed and finalized at the end of the project, as part of the project closure process23. References:

• CBAP® Handbook
• Business Analysis Body of Knowledge (BABOK® Guide) - Version 3, section 7.6 Manage Project Closure
• Lessons Learned - iiba.org

A trigger for re-prioritization is an event or a change that affects the relative importance or urgency of the project’s requirements or deliverables1. A new initial public offering (IPO) in the stock market is an example of such an event, as it may create new opportunities or threats for the online stock trading system and its stakeholders. The project team may need to re-prioritize the requirements or deliverables to align with the new market conditions and stakeholder expectations. The other options are not triggers for re-prioritization, but rather project issues or risks that need to be managed or mitigated. References: 1

The waterfall software development life cycle is a methodology that divides the project into phases, and the project manager focuses on control of time, cost, and scope. The waterfall model is a linear and sequential approach that follows a predefined set of steps from the initiation to the closure of the project. The waterfall model assumes that the requirements, scope, and design of the project are clear and stable, and that each phase can be completed before moving to the next one. The waterfall model helps to ensure that the project deliverables meet the quality standards and specifications, and that the project is completed within the budget and schedule12. The spiral software development life cycle is a methodology that combines the iterative and incremental approach with the risk management and prototyping techniques. The spiral model is a cyclical and evolutionary approach that follows a series of loops or iterations from the planning to the deployment of the project. The spiral model assumes that the requirements, scope, and design of the project are dynamic and complex, and that each iteration can be refined and improved based on the feedback and learning from the previous ones. The spiral model helps to identify and mitigate the risks and uncertainties of the project, and to deliver afunctional and adaptable product13. The agile software development life cycle is a methodology that emphasizes the collaboration, communication, and flexibility among the project stakeholders. The agile model is an adaptive and iterative approach that follows a series of short and frequent cycles or sprints from the conception to the delivery of the project. The agile model assumes that the requirements, scope, and design of the project are emergent and changing, and that each sprint can deliver a working and valuable product increment. The agile model helps to respond to the changes and feedback of the project, and to maximize the customer satisfaction and value14. The incremental software development life cycle is a methodology that breaks down the project into smaller and manageable chunks or modules. The incremental model is a progressive and modular approach that follows a series of steps from the analysis to the implementation of each module of the project. The incremental model assumes that the requirements, scope, and design of the project are partially known and defined, and that each module can be developed and delivered independently. The incremental model helps to reduce the complexity and risk of the project, and to provide a gradual and continuous delivery of the product15. References:

• CBAP® Handbook
• Waterfall Model - iiba.org
• Spiral Model - iiba.org
• Agile Model - iiba.org
• Incremental Model - iiba.org

A WBS, or Work Breakdown Structure, is a technique that is used to divide a project into controllable parts. It is a hierarchical decomposition of the project scope into smaller and more manageable components, called work packages. Each work package represents a deliverable or an outcome that contributes to the project objectives. A WBS helps to define and organize the project work, estimate the time and cost, assign the roles and responsibilities, and monitor and control the project progress. References:

• CBAP / CCBA Certified Business Analysis Study Guide, 2nd Edition, page 47
• Business Analysis Professional Resources | IIBA®, under Business Analysis Body of Knowledge (BABOK ®) Guide
• Work Breakdown Structure Wbs vs. Project Plan vs. Project Schedule, paragraph 1

Risk analysis is the process of defining and analyzing the dangers to individuals, businesses, and government agencies posed by potential natural and human-caused adverse events. Risk analysis involves identifying the sources and consequences of risk, estimating the likelihood and severity of risk events, and evaluating the effectiveness and feasibility of risk mitigation strategies. Risk analysis can be applied to various domains, such as IT, finance, security, health, environment, etc. Risk analysis can help to make informed decisions, optimize resource allocation, and enhance performance and resilience. One of the aspects of risk analysis is to measure the maturity level of the security program, which is the degree of development and capability of the security processes and controls that protect the organization from threats and vulnerabilities. A security maturity model is a framework that defines the stages or levels of security maturity and provides a roadmap for improvement. A security maturity model can help to identify the strengths and weaknesses of the security program, prioritize the actions and resources, and benchmark the progress and impact of the security program. References:

• Security Maturity Models: Levels, Assessment, and Benefits, paragraph 1
• Maturity Model | SANS Security Awareness, paragraph 1
• CBAP / CCBA Certified Business Analysis Study Guide, 2nd Edition, page 47

 Quantitative risk analysis is a technique that involves attempting to make and numerically determine the probability of various adverse events and measuring the likely extent of the losses. It uses numerical methods, such as expected monetary value analysis, Monte Carlo simulation, decision tree analysis, and sensitivity analysis, to estimate the likelihood and impact of risk events, and to evaluate the overall risk exposure of the project. Quantitative risk analysis can help to prioritize risks, allocate resources, optimize contingency reserves, and support decision making. References:

• CBAP / CCBA Certified Business Analysis Study Guide, 2nd Edition, page 47
• Risk Analysis- Open Courses by Atlantic International University - AIU, paragraph 1
• Which of the following techniques involves attempting to make and numerically determine the probability of various adverse events and measuring the likely extent of the losses?, answer D

 A RACI chart is a matrix that defines the roles and responsibilities of the stakeholders involved in a task or a process. RACI stands for Responsible, Accountable, Consulted, and Informed. A RACI chart helps to clarify who is responsible for performing the work, who is accountable for the outcome, who needs to be consulted for input or feedback, and who needs to be informed of the progress or results. A RACI chart is important to ensure that the roles and responsibilities of the stakeholders are tracked and communicated, and that there is no confusion, duplication, or omission of tasks. References: [IIBA BABOK Guide v3], section 2.2.2.4, page 25; CBAP / CCBA Certified Business Analysis Study Guide, chapter 6, page 237; CBAP Sample Questions, question 235.

The planning stage of a project defines the number of risks and opportunities, including intense planning and anticipation of risk events. The planning stage is the process of establishing the scope, objectives, approach, and deliverables of the project. It involves defining the project requirements, assumptions, constraints, and dependencies. It also involves developing the project management plan, which includes the subsidiary plans for scope, schedule, cost, quality, resources, communications, risk, procurement, and stakeholder management. The planning stage helps to identify and analyze the risks and opportunities that may affect the project, and to plan the appropriate responses and strategies to address them. The planning stage also helps to align the expectations and involvement of the project stakeholders, and to obtain their approval and commitmentfor the project12. The executing stage of a project is the process of performing the work and producing the deliverables of the project. It involves implementing the project management plan, managing the project resources, executing the project activities and tasks, and creating the project outputs and outcomes. The executing stage helps to monitor and control the risks and opportunities that occur during the project, and to implement the planned responses and strategies to deal with them. The executing stage also helps to communicate and collaborate with the project stakeholders, and to manage their expectations and satisfaction12. The initiation stage of a project is the process of authorizing and launching the project. It involves identifying the problem or opportunity that the project intends to address, and defining the purpose, objectives, scope, and justification of the project. It also involves developing the project charter, which is a document that formally approves and initiates the project. The initiation stage helps to identify and assess the high-level risks and opportunities that are associated with the project, and to determine the feasibility and viability of the project. The initiation stage also helps to identify and engage the key project stakeholders, and to obtain their support and endorsement for the project12. The closing stage of a project is the process of finalizing and terminating the project. It involves verifying and validating the project deliverables, evaluating and documenting the project performance, and closing the project contracts and accounts. It also involves developing the project closure report, which is a document that summarizes and communicates the project results and lessons learned. The closing stage helps to identify and resolve the remaining risks and opportunities that are related to the project, and to ensure the project objectives and benefits are achieved. The closing stage also helps to acknowledge and appreciate the project stakeholders, and to transfer the project ownership and responsibility to the customer or sponsor12. References: CBAP® Handbook, Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition

A Pareto chart is a quality control tool that displays the frequency of defects or problems in descending order of importance. It helps to identify the most significant causes of poor quality and prioritize improvement actions. A Pareto chart is based on the Pareto principle, also known as the 80-20 rule, which states that 80% of the effects come from 20% of the causes. By using a Pareto chart, a business analyst can focus on the vital few causes that account for most of the defects or problems, rather than the trivial many that have little impact. References:

• BABOK Guide v3, section 10.36 Pareto Chart
• IIBA Business Analysis Competency Model, version 4.0, section 5.2.3.1.2 Pareto Chart