CAPM Exam Dumps | Analytical techniques are a tool and technique of which process in Project Procurement Management?

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Question 133/171

Analytical techniques are a tool and technique of which process in Project Procurement Management?

A. Plan Procurement Management

B. Control Procurements

C. Conduct Procurements

D. Close Procurements

Correct Answer: C

Section: Volume B
Explanation:
4.4.2.2 Analytical Techniques
Analytical techniques are applied in project management to forecast potential outcomes based on possible variations of project or environmental variables and their relationships with other variables. Examples of analytical techniques used in projects are:
Regression analysis,

Grouping methods,

Causal analysis,

Root cause analysis,

Forecasting methods (e.g., time series, scenario building, simulation, etc.),

Failure mode and effect analysis (FMEA),

Fault tree analysis (FTA),

Reserve analysis,

Trend analysis,

Earned value management, and

Variance analysis.

Process: 12.2 Conduct Procurements
Definition: The process of obtaining seller responses, selecting a seller, and awarding a contract.
Key Benefit: The key benefit of this process is that it provides alignment of internal and external stakeholder expectations through established agreements.
Inputs
1. Procurement management plan
2. Procurement documents
3. Source selection criteria
4. Seller proposals
5. Project documents
6. Make-or-buy decisions
7. Procurement statement of work
8. Organizational process assets
Tools & Techniques
1. Bidder conference
2. Proposal evaluation techniques
3. Independent estimates
4. Expert judgment
5. Advertising
6. Analytical techniques
7. Procurement negotiations
Outputs
1. .Selected sellers
2. .Agreements
3. .Resource calendars
4. .Change requests
5. .Project management plan updates
6. .Project documents updates

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