L5M8 Exam Dumps - Project and Change Management

Personal powerderives from individual traits, relationships and credibility (e.g., being well-liked and influential). This contrasts withpositional(formal authority),expert(knowledge), andnegative(ability to obstruct).

TheCritical Path Method (CPM)identifies the sequence of tasks that determine total project duration. It provides arealistic time estimateand indicates bothshortest and longestcompletion possibilities, guiding scheduling decisions.

Alate deliveryby suppliers can directlydelay project timelines, representing asupply chain risk. The other options are internal project management risks, not supply chain-based.

A risk assessment quantifieslikelihood (probability)andseverity (impact), assigning scores that help prioritise mitigation actions.Typeandownerare qualitative factors.

Absorptive capacityis the organisation’s ability torecognise, assimilate, and apply new knowledgefrom external partners to improve performance and add value.

Cynicism often results from a breach of thepsychological contract, leading to mistrust. Managers shouldrebuild confidencethroughtransparent communication(upward and downward) and bycelebrating successesthat demonstrate progress and credibility of change.

Open-ended changeoccurs whenoutcomes cannot be predicteddue to novelty or lack of precedent. There isno reliable datato forecast consequences, unlikecontained(partially known) orclosed(fully known) changes.

In Cox’s Stepladder model,mergers and acquisitionsare not part of buyer–supplier relationship levels. They are described as acore competency, representing full organisational integration beyond contractual relationships.