Pearson PK0-005 New Attempt

The output of this exercise where the project manager is comparing the cost of the project to the cost savings the project will produce when it is complete will produce the return on investment (ROI). ROI is a financial metric that measures the profitability or efficiency of an investment by comparing its benefits or returns to its costs. ROI can help to evaluate the value or worth of a project and support decision making and prioritization. ROI is calculated by dividing the net benefits (benefits minus costs) by the total costs and multiplying by 100 to get a percentage.

The project manager should have prepared acceptable communication channels to avoid the situation of a stakeholder not replying to emails due to intermittent Internet service. Acceptable communication channels are methods or modes of communication that are agreed upon by all parties involved in a project. They may include aspects such as email, phone call, text message, video conference, instant message, or face-to-face meeting. Acceptable communication channels can help to ensure that messages are delivered and received effectively and efficiently and that communication preferences and limitations are respected.

A weak matrix organizational structure is one where the project manager has low authority and the functional manager has high authority. The project manager is considered to be a coordinator or an escalator, and the team members are primarily loyal to their functional units. This can cause issues with team motivation, communication, and performance1

A gantt chart is a visual representation of a project timeline that shows the tasks, durations, dependencies, and resources of a project in a horizontal bar chart format. A gantt chart can help a project manager to calculate the progress of the whole project scope by comparing the planned and actual start and finish dates of each task, as well as the percentage of completion and the critical path. A gantt chart is also a useful tool for communicating the project status and performance to the sponsor and other stakeholders. Therefore, the first document that the project manager should update to calculate the progress of the whole project scope is the gantt chart. References = CompTIA Project+ Study Guide: Exam PK0-005, 3rd Edition, Chapter 6: Schedule Management1; CompTIA Project+ Certification Study Guide, 3rd Edition, Chapter 6: Schedule Management2; What Is a Gantt Chart? 7 Examples for Project Management3