"PMP Exam Practice Question and Answer -133 : Change in Purchasing Power | PMP Exam Prep, Project Management, PMP Exam"

The Scenario is
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Halfway through the project, you realize the economic conditions have changed significantly. The purchasing power of the target demographic has decreased, and the originally projected business value is no longer aligning with current market trends. What should be your immediate course of action?
A) Continue executing the project as per the baseline scope without making any adjustments, adhering strictly to the original plan despite the changed economic landscape.
B) Pause the project immediately to avoid further expenses and reassess the situation once the market conditions have stabilized.
C) Conduct a thorough market analysis to understand the impact of the changing economic conditions on your project and adjust the project's objectives, scope, and deliverables accordingly.
D) Engage with stakeholders to discuss the current market trends, their potential impact on the project, and collaboratively explore options, which may include adjustments to the project scope, reprioritization of features, or a temporary postponement of the project.
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Right Answer is D)
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PMP Exam Content Outline Mapping
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Domain People :
Task 9 Collaborate with stakeholders
Domain Process :
Task 1 Execute project with the urgency required to deliver business value
Domain Business :
Task 3 Evaluate and address external business environment changes for impact on scope
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Topics Covered
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• Evaluate Business Value
• Stakeholder Engagement
• Adapting to Business Environment
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