Integration Management

Correct Answer: To complete and settle each contract, including resolution of any open items, and to formalize acceptance of the work results

The primary purpose of the Close Procurements process in Integration Management is essentially to complete and settle each contract, including resolution of any open items and to formalize acceptance of the work results. It marks the formal end of the procurement process relating to every contract. The other answers are incorrect because they each describe different process stages of the procurement. Negotiating and awarding procurement contracts with seller organizations corresponds to the conduct procurement process. Planning and managing procurement activities for the project describes the plan procurement management process while administering and monitoring procurement contracts during contract performance, is an explanation for the control procurements process. None of these processes refer to the close procurements process.

Correct Answer: D. Estimate Costs

The question is asking about developing a detailed project budget which corresponds to the 'Estimate Costs' process in integration management, hence, 'D. Estimate Costs' is the correct answer. Here's why the other options don't fit: 'A. Develop Project Charter' is about authorizing the project and giving the project manager the authority to allocate resources, not about developing a budget. 'B. Develop Project Management Plan' is the process of defining, preparing, and coordinating all subsidiary plans, it includes the budget but does not specifically entail developing it. 'C. Direct and Manage Project Work' is about leading and performing the work defined in the management plan and implementing approved changes to achieve the project's objectives, not creating a budget.

Correct Answer: To formally authorize a project

The Develop Project Charter process in Integration Management has the purpose of formally authorizing a project. It is during this process that the project is officially recognized and defined, which allows the project manager to allocate resources to it. 'To identify stakeholders' is an incorrect answer, because this activity happens in the Identify Stakeholders process. 'To create a detailed project plan' is also incorrect, because it happens in the Develop Project Management Plan process. The last incorrect answer is 'To execute the project work according to the project plan', this activity is part of the Direct and Manage Project Work process.