BTW, DOWNLOAD part of PrepAwayPDF L4M2 dumps from Cloud Storage: https://drive.google.com/open?id=1Cab9ndVKLBLIIUSei8Lha4BOMbVfJ1mN
The PrepAwayPDF Defining Business Needs (L4M2) exam dumps are being offered in three different formats. The names of these formats are L4M2 PDF questions file, desktop practice test software, and web-based practice test software. All these three Defining Business Needs in L4M2 Exam Dumps formats contain the real CIPS L4M2 exam questions that will help you to streamline the L4M2 exam preparation process.
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
To lead a respectable life, our specialists made a rigorously study of professional knowledge about this L4M2 exam. So do not splurge time on searching for the perfect practice materials, because our L4M2 training materials are the best for you. We can assure you the proficiency of our L4M2 Exam Prep. So this is a definitive choice, it means our L4M2 practice quiz will help you reap the fruit of success.
CIPS L4M2 (Defining Business Needs) exam is tailored for professionals who are involved in the procurement and supply cycle within their organizations. Defining Business Needs certification is best suited for individuals who are responsible for identifying and defining the business needs of their organizations and developing effective procurement strategies that meet those needs. It is ideal for professionals who are looking to advance their careers in procurement and supply by developing the skills and knowledge needed to operate at a high level of competency.
NEW QUESTION # 203
Which of the following is a tool to define roles and responsibilities of a project team?
Answer: C
Explanation:
A responsibility assignment matrix[1] (RAM), also known as RACI matrix[2] (/#re#si/) or linear responsibility chart[3] (LRC), describes the participation by various roles in complet-ing tasks or deliverables for a project or business process. RACI is an acronym derived from the four key responsibilities most typically used: responsible, accountable, consulted, and informed.[4] It is used for clarifying and defining roles and responsibilities in cross-functional or departmental projects and processes.[5] There are a number of alternatives to the RACI model.
Role distinction[edit]
There is a distinction between a role and individually identified people: a role is a descriptor of an associated set of tasks; may be performed by many people; and one person can perform many roles. For example, an organization may have ten people who can perform the role of project manager, although traditionally each project only has one project manager at any one time; and a person who is able to perform the role of project manager may also be able to perform the role of business analyst and tester.
R = Responsible (also recommender)Those who do the work to complete the task.[6] There is at least one role with a participation type of responsible, although others can be delegated to assist in the work required (see also RASCI below for separately identifying those who participate in a sup-porting role).
A = Accountable (also approver or final approving authority)The one ultimately answerable for the correct and thorough completion of the deliverable or task, the one who ensures the prerequi-sites of the task are met and who delegates the work to those responsible.[6] In other words, an accountable must sign off (approve) work that responsible provides. There must be only one accountable specified for each task or deliverable.[7] C = Consulted (sometimes consultant or counsel)Those whose opinions are sought, typical-ly subject-matter experts; and with whom there is two-way communication.[6] I = Informed (also informee)Those who are kept up-to-date on progress, often only on completion of the task or deliverable; and with whom there is just one-way communication.[6] Very often the role that is accountable for a task or deliverable may also be responsible for com-pleting it (indicated on the matrix by the task or deliverable having a role accountable for it, but no role responsible for its completion, i.e. it is implied). Outside of this exception, it is generally recommended that each role in the project or process for each task receive, at most, just one of the participation types. Where more than one participation type is shown, this generally implies that participation has not yet been fully resolved, which can impede the value of this technique in clarifying the participation of each role on each task.
Reference:
- CIPS study guide page 17
- Responsibility assignment matrix - Wikipedia
LO 1, AC 1.1
NEW QUESTION # 204
Despite of better improvement rates than other types of benchmarking, functional benchmarking still has downsides. Which of the following is most likely to be a disadvantage of functional benchmarking?
Answer: A
Explanation:
Functional benchmarking is a comparison to similar or identical practices (e.g., the picking process for assembling customer orders, maintaining inventory controls of spare computer parts, logistics to move operational forces, etc.) within the same or similar functions outside the immediate industry. Functional benchmarking might identify practices that are superior in your functional areas in whatever industry they may exist. Functional benchmarking would be accomplished at the federal level by comparing the IRS collections process against those of American Express. Comparing copper mining techniques to coal mining techniques is an example in the private sector.
Benefits
- Provides industry trend information
- Quantitative comparisons
- Better improvement rate
Challenges
- Diverse corporate cultures
- Great need for specificity
- Not invented here. syndrome
- Common functions can be difficult to find
- Takes more time than internal or percent
- Must be able to visualize how to adapt the best practices
Source: USN Benchmarking Handbook
LO 1, AC 1.3
NEW QUESTION # 205
Which of these are variety reduction initiatives? Select the THREE that apply.
Answer: B,C,E
NEW QUESTION # 206
To improve the productivity, Plantation Ltd is planning to purchase a tractor, which it has never bought before. The project must be quick to catch up with the next growing season. Leanne, a jun-ior procurement staff at the company, assumes that she could skip market analysis stage to save time. Is this assumption reasonable?
Answer: B
Explanation:
Market analysis is a stage in CIPS Procurement and Supply Cycle. This stage informs the purchaser about the number of suppliers, the average pricing, and product trends. Even urgent purchase should undergo market analysis. Without undertaking this stage, the buying organisation may not purchase the right product, or they may purchase at higher price.
NEW QUESTION # 207
A garment manufacturer supplies global retailers with t-shirts, shirts, and linen trousers. Because of currency fluctuations, the manufacturer is aware that they must control their direct costs in order to ensure profits. Which of the following is a direct cost for the garment manufacturer?
Answer: D
Explanation:
Detailed Explanation:
Cotton fabric is a direct cost because it is directly attributable to the production of the garments. Costs like rent, utilities, and payroll are indirect costs associated with running the business. Reference: CIPS Level 4, Cost Categorization in Procurement.
NEW QUESTION # 208
......
L4M2 Latest Exam Cram: https://www.prepawaypdf.com/CIPS/L4M2-practice-exam-dumps.html
BTW, DOWNLOAD part of PrepAwayPDF L4M2 dumps from Cloud Storage: https://drive.google.com/open?id=1Cab9ndVKLBLIIUSei8Lha4BOMbVfJ1mN