PMI-ACP Exam Prep

What does MoSCoW stand for - Answer- "MoSCoW is a prioritization exercise techneque based upon putting features in the following categories: Must Have. Should Have this if it is possible to get. Could Have this if it doesn't impact anything else above. Won't have this time but would like to have in the future" Name 3 ways Risk is managed in an agile project - Answer- "Risk Adjusted Backlog Risk Burndown Graph Risk Based Spikes" Desribe a Risk Adjusted Backog - Answer- "A risk adjusted backlog takes into consideration the amonut of risk a feature or function (story) places on the overall project/product. The goal in risk adjusting the backlog is to have a balance of value generating items and risk reduction items to maximize the value creation possible. Risk reduction items may be avoidance, mitigation, or acceptance items. " What is EMV and how is it used in relation to backlog prioritization - Answer- "EMV is the Expected Monitary Value of an action, feature or function. EMV is used to calculate the Expected value at risk for an item. E.g. Risk % Value EMV 20% $20000 $4000 risk This is used as input to the overall prioritization of the backlog. " Discuss risk based spikes - Answer- A Spike is a time boxed exploration of a feature or issue that is not clear enough to quantify. Risk based spikes are used to explore a risk so that it is clear enough to make reasonable mitigation plans. What are acceptable risk responses - Answer- "Avoid - Attempt to not encounter the risk condition Mitigate - Make plans to minimize the impact of the risk condition Transfer - Make someone or something else take the impact (e.g. outsourceing or insurance) of the risk Accept - simply accepting that it is going to happen (e.g. if the risk impact is small)" What is Cycle time - Answer- Cycletime is the time a system produces a new product. It is measured by observation at the end of the system. If a new car rolls off an assembly line every 5 minutes then cycle time is 5 minutes. There is 5 miutes between cycles. Discu