Certified Business Analysis Professional CBAP Updated Exam

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