RPA Final Exam Questions and Answers Rated A+

RPA Final Exam Questions and Answers Rated A+ RPA technology that enables a robot to execute processes by emulating human interaction with computer applications 3 primary components of RPA bots, bot manager, workflow design module attended robots require a human to initiate the process through some form of trigger, computer is generally unavailable while running unattended robots run on schedule in the background without any human interaction operational implementation risks insufficient exception handling or inefficient operational delivery from poor bot resource management (ex: too man processes to a single bot) financial implementation risks poorly defined requirements leading to financial misstatements, inadequate segregation of duties, automating processes that lead to financial loss regulatory implementation risks humans directing bot activities in a fraudulent manner, immaturity of laws regulating RPA organizational implementation risks inadequate change management, documentation, or continuity planning, failure to retain human expertise upon RPA use technology implementation risks instability of integrating applications and the effect that may have on bot performance, cyber risks, lack of encryption as part of bot design 5 prerequisites for effective bot governance 1. identify key stakeholders and proactively seek their input 2. determine the RPA operating model 3. conduct and RPA POC and select the RPA tool 4. perform process discovery 5. prepare a business case 1. identify key stakeholders and proactively seek their input (prerequisite) getting feedback from and involving a number of individuals and business areas (sponsors, IT leaders, RPA leaders, senior mgmt, architects, internal control, internal audit, external audit) 2. determine the RPA operating model (prerequisite) centralized/decentralized/federated, where the implementation will reside, whether citizen development will be allowed 3. conduct an RPA Proof of Concept (POC) and select the RPA tool (prerequisite) prove that RPA technology is feasible and valuable solution, ensure you use the best RPA tool for the operating model, conduct a POC with software candidates 4. perform process discovery (prerequisite) determine viable automation opportunities, ensures the program won;t stall after the first few processes are deployed (should include technical and financial feasibility) 5. prepare a business case (prerequisite) should be informed by an aggregate of NPV for the highest-priority processes, must deliver value bad RPA candidates processes that require significant judgment, interact with applications with user interfaces that change, or are immature or unstable 7 key components of RPA governance 1. governing bodies 2. organizational construct 3. operational life cycle 4. internal controls 5. technology governance 6. performance management 7. vendor management 1. governing bodies (component) identify the governing bodies that will provide oversight of the RPA program (review risks, ensure adequate risk mitigation, confirm automation processes) 2. organizational construct (component) clearly define roles for the people accountable for operational delivery, should be a hybrid of IT and business personnel 3. operational life cycle (component) define the stages through which ideas must progress 4. internal controls (component) review existing internal control policies and consolidate risks that have been identified at the program level and at the individual RPA level, create a risk register to detail how each risk is mitigated (should relate to controls embedded in the operational life cycle) 5. technology governance (component) update or expand documentation to incorporate RPA, application/credential/user/licensing/continuity/cybersecurity/storage/coding management 6. performance management (component) develop annual budget, value targets, milestone-based plan, key performance indicators (KPIs), and documentation of how these measures will be tracked 7. vendor management (component) at least 2 vendors: RPA software company and development partner, must support best practices, communication, and support measures