PECB ISO 21502 Lead Project Manager : ISO-21502-Lead-Project-Manager Exam Questions

What is an advantage of using ISO 21502?

• A. Both A and B
• B. Organizations enhance their strength through project implementation
• C. Organizations have advancing opportunities to transform ideas into tangible and intangible deliverables, outputs, outcomes, and benefits

According to ISO 21502, when is positive value created?

• A. When the benefits enabled by the project exceed the investment of resources
• B. When the investment of resources is similar to the benefits enabled by the project
• C. When the project produces deliverables, regardless of the resources allocated for its implementation

When should the needs and opportunities resulting from the organizational strategy or business requirements be evaluated?

• A. After pre-project activities are completed
• B. Throughout the project life cycle
• C. Before formal authorization to initiate a new project

Scenario:
Leute is a low-cost airline, headquartered in Wien, Austria. The company aims to offer passengers optimal options regarding its services and gain the lead role among other competitors in the airline industry. Recently, Leute experienced a major drop in revenue due to negative reviews from customers in various online platforms. To increase its profit and enhance customer satisfaction, the company decided to expand its in- flight services by offering entertainment, such as movies, audio books, and games, food for purchase in economy and full meals in premium cabins, and comforts, such as blankets and pillows. For the implementation of this project and future projects of the airline, the CEO of Leute, Michaele Wagner, decided to follow the guidelines of ISO 21502 on project management.
Initially, Allison, the project manager, created a short document in which she justified and summarized all project aspects, including: the nature and purpose of the project, the objectives of the project, key milestones of the project and the time needed to complete the project, and the audience that the project targets.
Afterward, Allison held a meeting with Michaele during which she presented this document and briefly explained each of its points. After a considerable amount of analysis and discussions, the project initiation was approved by Michaele. In addition, a team of eighteen members was authorized to start with the project activities.
While undertaking the project activities, Allison ensured that each work package takes longer than 8 hours, but less than 80 hours, so that they would be completed in 1 to 10 working days. In addition, during this phase, several changes were made in the predefined aspects of the project, which were approved by Nick Todd, the project sponsor. For instance, initially, the project delivery was set to be completed after six months. However, considering how the project was implemented and the time required for the completion of each phase, the deadline for the project completion was postponed for another two months. These changes were also reflected in the business case, which was updated accordingly.
A month after the project execution began, Allison conducted an earned value analysis to measure the progress of the project up to that stage. She measured how efficiently the work was being performed with regard to its budgeted cost, after which she concluded that it was going according to the plan. Moreover, she organized a meeting with relevant project stakeholders in order to communicate the progress report to them.
Question:
Scenario 3 indicates that Michaele authorized the project initiation. Is this acceptable?

• A. No, the project initiation should be approved by the project manager in consultation with work package leaders
• B. Yes, the project initiation should be approved by the sponsoring organization
• C. No, the project initiation should be approved by the project manager

How does ISO 21502 define project management?

• A. Principles, policies, and procedures by which a project is authorized and directed to accomplish agreed objectives
• B. Planned and systematic actions necessary to provide confidence to the sponsoring organization and project sponsor that a project is likely to achieve its objectives
• C. Coordinated activities to direct and control the accomplishment of agreed objectives