According to ISO 21502, what should be considered in order to avoid the repetition of mistakes from previous projects?

• A. Utilizing the lessons learned from previous, relevant projects
• B. Hiring subject-matter experts
• C. Hiring subject-matter experts

Scenario:
Tricko is a clothing manufacturer headquartered in Milano, Italy. The company was founded in 2010 by Mario, a famous Italian fashion designer. Over the last few years, the company has seen immense growth and now has a chain of stores across multiple European cities. Following industry trends, the top management of Tricko concluded that the company should establish an online store. As such, they required Lily, an experienced IT engineer, to develop a brief for this potential project. After several meetings and discussions, the top management approved the project brief and assigned Lily as the project manager. For this project, she was instructed to use the guidelines of ISO 21502 on project management.
Lily initiated the project by mobilizing the project team, which included four web developers, two network engineers, and one systems analyst. In order to ensure that every team member is fully aware of their roles and responsibilities, Lily developed team performance domains which would link each project activity with the individuals responsible for undertaking it. She explained to the team members that it is important to clearly understand their roles and responsibilities, considering that the team composition cannot be reassessed or revised once the project plan is authorized to be executed. In addition, Lily defined in a document the project's contribution to the overall objectives of Tricko, which reflected the relevant project requirements and their associated acceptance criteria.
Following that, Lily worked with the project team to discuss project costs. She suggested the team initially establish cost estimates only for the first phase of the project and then for the entire project. In addition, she required cost estimates to be expressed in currency valuations and in labor hours. One of the network engineers suggested that each team member should provide an estimate, and then the team should reach an agreement for a joint estimate. On the other hand, one of the developers suggested establishing an estimate for the costs after the closure of the project, such as advertising and promotion costs. Lily agreed with their suggestions and asked them to provide a total estimate as soon as possible.
Based on the total estimate provided by the project team, Lily developed the project budget and created a list of project activities, divided them into smaller items, and assigned a budget for each item.
Question:
Based on scenario 5, which estimation method for project cost did the network engineer propose?

• A. Wideband Delphi estimating
• B. Parametric estimating
• C. Single-point estimating

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

Which of the options below regarding project reporting is NOT correct?

• A. The reporting approach and methods should be planned and documented at the end of the project
• B. Reporting should be aligned with the current project documentation and determined from an analysis of project management information
• C. During the project, reporting should be monitored and adjusted to maintain alignment with the needs and requirements of the recipients of the reports

What is the purpose of controlling a project?

• A. To monitor and measure performance against the project plan
• B. To ensure that the scope of the project does not change under any circumstances
• C. To authorize the initiation of each stage of the project