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CIPS L4M2 (Defining Business Needs) Certification Exam covers a wide range of topics related to business analysis, including the identification of business needs, the development of business cases, the analysis of business requirements, and the creation of solutions that meet these requirements. Defining Business Needs certification exam is designed to ensure that individuals who pass it have the skills and knowledge necessary to succeed in a career in business analysis or project management.
CIPS L4M2 (Defining Business Needs) certification exam is a highly respected qualification that is recognized globally. It is designed for procurement and supply chain management professionals who are looking to advance their careers and demonstrate their knowledge and skills in this field. By passing L4M2 exam, candidates can enhance their career prospects and demonstrate their commitment to excellence in procurement and supply chain management.
Using free CIPS L4M2 dumps is a great way to prepare for the exam. Defining Business Needs L4M2 dumps are updated regularly and contain an excellent course of action material. CIPS experts carefully design the dumps to help you pass the exam. If you want to be successful in your exam, you need to have a good understanding of the Defining Business Needs L4M2 Certification.
CIPS L4M2 (Defining Business Needs) Certification Exam is designed to test the knowledge and skills of professionals who are involved in the process of defining business needs in an organization. L4M2 exam is part of the Chartered Institute of Procurement and Supply (CIPS) Level 4 Diploma in Procurement and Supply, which is recognized globally as a leading qualification in the procurement and supply chain management field. The L4M2 Exam covers a wide range of topics, including stakeholder management, requirement gathering techniques, business analysis, and procurement strategies.
NEW QUESTION # 151
Ymira is asked to develop the specification for water purifier which will be used at the company headquarter. She believes that the specification can be drafted based on the information available on the Internet, such as blog posts, comparison websites, how-to websites, life hacks, etc. Which of the following traits will make the information more useful?
Answer: D,E
Explanation:
Internet is a great source of information, however, information from the Internet needs to be tested for accuracy and reliability. To check the information from the Internet, a buyer can use the criteria with acronym SAMOA:
Source (of the information)
Audience (intended as the recipient of the information)
Methodology (used to collect and analyse the data)
Objectivity (of the information - there should be no bias)
Accuracy
Reference:
LO 3, AC 3.1
NEW QUESTION # 152
Builder Inc is a rapidly expanding business in construction sector. Due to an increase in projects, it cannot manage the flow of materials by Excel spreadsheets but by more dedicated software. Who would be a key internal stakeholder in defining software compatibility with company's current system?
Answer: D
Explanation:
Internal stakeholders may contribute to defining needs and drafting the specification by using their technical expertise. In this scenario, IT team may consult procurement team on the technical specification of the software, including compatibility with company's current IT system.
NEW QUESTION # 153
At which stage of product life cycle, price competition between sellers will be the most intense?
Answer: A
Explanation:
The term product life cycle refers to the length of time a product is introduced to consumers into the market until it's removed from the shelves. The life cycle of a product is broken into four stages-introduction, growth, maturity, and decline.
Chart, line chart Description automatically generated
Source: https://blueoceanoutsource.co.ke/the-product-life-cycle-concept/ At maturity stage, price competition sets in as more and more supply capacity has been added by new entrants, then the competition will be the most intense.
Reference: CIPS study guide page 90-91
LO 2, AC 2.2
NEW QUESTION # 154
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply
Answer: A,E
Explanation:
To answer this question, candidates are required to remember the cash flow cycle and cost entries as well as the impact of their timing on a business.
Diagram Description automatically generated
Source: https://cfoperspective.com/free-your-cash-trapped-in-the-cash-conversion-cycle/ Shorter payment term and more inventory are likely to have negative impact on the cash flow be-cause the buyer has to pay sooner and greater.
"Customers agree to pay immediately" will increase the organisation's bank account sooner.
Depreciation has no impact on cash flow as it is only listed in Profit and Loss statement.
Increasing revenue may have negative or positive impact on cash flow, depending on the real situation.
NEW QUESTION # 155
Which of the following is an assumption of Kano model?
Answer: C
Explanation:
Kano model of excitement and basic quality (Kano et al, 1984; Berger et al, 1993; Matzler et al, 1996) brings a different perspective for the analysis of improvement opportunities in products and services because it takes in consideration the asymmetrical and non-linear relationship between performance and satisfaction. The Kano model classifies customers requirements in three categories (figure 3):
a) Basic Requirements. The basic requirements fulfill the basic functions of a product. If they are not present or their performance is insufficient, customers will be extremely dissatisfied. On the other hand, if they are present or have sufficient performance, they don't bring satisfaction. Customers see them as prerequisites. For instance, for luxury automobiles, "air bags" are considered basic. A customer won't feel satisfied if the automobile has "air bag", however he/she will not buy it if "air bag" is not present.
b) Performance Requirements. As for these requirements, satisfaction is proportional to the performance level
- the higher the performance, the higher the customer's satisfaction will be and vice-versa. Gas consumption in automobiles is an example of these requirements. Usually customers explicitly demand performance requirements.
c) Excitement Requirements. These requirements are key to customer satisfaction. If they are pre-sent or have sufficient performance, they will bring superior satisfaction. On the other hand, if they are not present or their performance is insufficient, customers will not get dissatisfied. For instance, a surprise gift at the end of a dinner in a restaurant will certainly bring satisfaction, but it will not cause dissatisfaction if not offered. These requirements are not demanded nor expected by customers.
Two other types of requirements may be identified in the Kano model: neutral and reverse ones. Neutral requirements do not bring either satisfaction or dissatisfaction. Reverse requirements bring more satisfaction if absent than if present.
Diagram Description automatically generated
NEW QUESTION # 156
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