L4M2 VALID TEST PRACTICE - LATEST L4M2 BRAINDUMPS

L4M2 Valid Test Practice - Latest L4M2 Braindumps

L4M2 Valid Test Practice - Latest L4M2 Braindumps

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Tags: L4M2 Valid Test Practice, Latest L4M2 Braindumps, L4M2 New Practice Questions, Valid L4M2 Test Guide, Exam L4M2 Vce

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CIPS L4M2 Certification Exam is recognized globally as a leading certification in the field of business analysis. It is highly valued by employers, as it indicates that the candidate has the knowledge and skills necessary to effectively identify and articulate business needs in complex business environments. Furthermore, it demonstrates a commitment to ongoing professional development and a dedication to staying up-to-date with the latest industry trends and best practices.

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Preparing for the CIPS L4M2 certification exam requires a significant amount of effort and dedication. Candidates must thoroughly understand the principles of business analysis, stakeholder management, requirements engineering, and business architecture. They should also be familiar with the exam format and take practice tests to identify areas of weakness. Additionally, candidates should consider enrolling in a training program to ensure they have the knowledge and skills necessary to pass the exam.

Another key aspect of the CIPS L4M2 Exam is developing effective business cases. A business case is a document that outlines the rationale for a particular project, initiative, or investment. L4M2 exam covers the key elements of a business case, including the problem statement, objectives, options appraisal, financial analysis, and risk assessment. Learners will also understand the importance of presenting a business case in a clear and concise manner.

CIPS Defining Business Needs Sample Questions (Q96-Q101):

NEW QUESTION # 96
Over the life of a product, which of the following would be considered non-value-adding costs?
* Rework costs
* Production costs
* Maintenance costs
* Waste disposal costs

  • A. 3 and 4
  • B. 1 and 4
  • C. 2 and 3
  • D. 1 and 2

Answer: B


NEW QUESTION # 97
Which of the following are typical benefits of through-life asset management to buying organisa-tion? Select the TWO that apply.

  • A. Lower risks as there are many suppliers accountable for costs and service over the life of the asset
  • B. Better capability of supplier over time
  • C. Shorter specifications
  • D. Lower total cost of ownership
  • E. Greater supplier's bargaining power

Answer: B,D

Explanation:
According to Andrew Graves, "Through-life Management involves the life-cycle management of the products, services and activities required to deliver a fully integrated capability to the customer, while reducing the cost of ownership for the customer." Benefits of through-life asset management can be:
- Lower total life-cycle costs
- Better match between the asset and end-user's needs
- Better supplier capabilities over time because it gains experience of buying organisation's needs.
Reference:
LO 3, AC 3.2


NEW QUESTION # 98
A procurement team is categorising their purchased items into four quadrants of Kraljic's supply chain portfolio matrix. They realise that there are some low-value items which come from very few suppliers in the market. The organisation is critically dependent on these suppliers. The team plans to reduce the dependence by finding alternative sources. Is this a right course of action?

  • A. No, the organisation should run competitive biddings to exploit the competition
  • B. Yes, the organisation needs to reduce the supply risks
  • C. No, there is no way to escape this dependency
  • D. Yes, this action will dramatically increase the supplier's bargaining power

Answer: B

Explanation:
According to Kraljic portfolio matrix, the low-value items with high supply risk are bottleneck items.

The purchasing strategy that is commonly recommended for these products is primarily based on acceptance of the dependence and reduction of the negative effects of the unfavourable position. An alternative strategy suggested by purchasing practitioners is to find other suppliers and move towards the non-critical quadrant.
- Accept dependence, reduce negative consequences: The main focus of this strategy is to assure supply, if necessary even at additional cost. Examples of this strategy are keeping extra stocks of the materials concerned or developing consigned stock agreements with suppliers. By performing a risk analysis firms can identify the most important bottleneck products and consider the implications. A possible action for dealing with unexpected bad dependence positions for certain products is to employ contingency planning.
- Reduce dependence and risk, find other solutions: This strategy is geared towards reducing the dependence on the supplier. The most common way to achieve this is to broaden the specifications of the product or to search for new suppliers.
The procurement team in the scenario has selected reducing dependency by finding alternatives. This is a right strategy for bottleneck item.


NEW QUESTION # 99
Ethan is the newly appointed CEO of ATT Group. He sees that the company is wasting financial resources on unnecessary spends. To solve this problem, Ethan requires all functional managers to prepare their department budget from scratch. Each spend must have justification or it will not be approved. Which budgeting method is Ethan using?

  • A. Incremental budget
  • B. Activity-based budget
  • C. Value preposition budget
  • D. Zero-based budget

Answer: D

Explanation:
There are four common types of budgets that companies use: (1) incremental, (2) activity-based, (3) value proposition, and (4) zero-based.
Incremental budgeting takes last year's actual figures and adds or subtracts a percentage to obtain the current year's budget. It is the most common method of budgeting because it is simple and easy to understand.
Activity-based budgeting is a top-down budgeting approach that determines the amount of inputs required to support the targets or outputs set by the company. For example, a company sets an out-put target of $100 million in revenues. The company will need to first determine the activities that need to be undertaken to meet the sales target, and then find out the costs of carrying out these ac-tivities.
In value proposition budgeting, the budgeter considers the following questions:
- Why is this amount included in the budget?
- Does the item create value for customers, staff, or other stakeholders?
- Does the value of the item outweigh its cost? If not, then is there another reason why the cost is justified?
Value proposition budgeting is really a mindset about making sure that everything that is included in the budget delivers value for the business. Value proposition budgeting aims to avoid unneces-sary expenditures
- although it is not as precisely aimed at that goal as our final budgeting option, zero-based budgeting.
As one of the most commonly used budgeting methods, zero-based budgeting starts with the as-sumption that all department budgets are zero and must be rebuilt from scratch. Managers must be able to justify every single expense. No expenditures are automatically "okayed". Zero-based budgeting is very tight, aiming to avoid any and all expenditures that are not considered absolutely essential to the company's successful (profitable) operation. This kind of bottom-up budgeting can be a highly effective way to "shake things up".
This is the method used in the scenario.


NEW QUESTION # 100
Due to the growth of consumer electronics market, semiconductor industry develops exponentially. However, the industry is dominated by a dozens of manufacturer. Chipset need to be built in factories with highly controlled environments. New chip factories cost billions of dollars and can take two years to build. Right now, factories are running at full capacity, which produce almost perfect yields, meaning basic chipset can be made for less than a dollar and more advanced versions for not much more. What are the barriers to new entrants in the semiconductor industry?
1. Poor industry growth
2. High set-up costs
3. Economies of scale
4. Low switching costs

  • A. 2 and 4 only
  • B. 2 and 3 only
  • C. 1 and 4 only
  • D. 3 and 4 only

Answer: B

Explanation:
Barriers to entry is an economics and business term describing factors that can prevent or impede newcomers into a market or industry sector, and so limit competition. The most obvious barriers to entry are high start-up costs and regulatory hurdles which include the need for new companies to obtain licenses or regulatory clearance before operation. Also, industries heavily regulated by the government are usually the most difficult to penetrate. Other forms of barrier to entry that prevent new competitors from easily entering a business sector include special tax benefits to existing firms, patent protections, strong brand identity, customer loyalty, and high customer switching costs.
In the scenario, the new factory for chipset manufacturing costs billions of dollars, which indicates high set-up costs. Also, the incumbent manufacturers have reached economies of scale, allowing them to produce the components at optimal price.
The above descriptions are compiled from recent reports on current chip shortage (2021).
Reference:
- Barriers to Entry Definition (investopedia.com)
- CIPS study guide page 96-97
LO 2, AC 2.2


NEW QUESTION # 101
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