A program manager needs to predict potential opportunities and justify strategic resource allocation by understanding future economic conditions. Which of the following techniques is most appropriate for this purpose?
Using a risk register to document and track uncertain program elements.
Analyzing economic indicators and market trends to project future conditions.
Gathering progress data from component projects to refine near-term tasks.
Conducting a root cause analysis (RCA) on a recently failed project component.
The correct answer is a technique focused on predicting future economic conditions by analyzing macro-level data and trends. Economic forecasting is essential for strategic program planning. Other options are incorrect because they describe operational monitoring (refining tasks), reactive problem-solving (RCA), or a different planning process (risk register management).
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Why is analyzing economic indicators and market trends useful for strategic planning?
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What are some common examples of economic indicators used in forecasting?
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How does economic forecasting differ from using a risk register in program management?
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PgMP
Strategic Program Alignment
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