CLO-002 Dumps With Exact Questions and Answers

 Hosting the application in the cloud means that the company does not need to invest in building and maintaining an infrastructure to host the application on premises. This reduces the company’s capital expense, which is the money spent on acquiring or upgrading fixed assets, such as servers, storage, network, and software1. Instead, the company can pay for the cloud services that they use on a subscription or consumption basis, which is considered an operating expense, which is the money spent on the day-to-day running of the business1. Hosting the application in the cloud can also provide other financial benefits, such as lower energy costs, higher scalability, and faster time to market2.

The other options are not correct, as they do not describe the financial impact of hosting the application in the cloud accurately. The company will not be able to defer licensing costs, as they will still need to pay for the software licenses that they use in the cloud, either as part of the cloud service fee or separately3. The provider will not share responsibility for the company’s monthly bill, as the company will be solely responsible for paying for the cloud services that they consume, based on the provider’s pricing model and terms of service4. Monthly operating costs will not remain constant despite usage, as the cloud services are typically charged based on the amount of resources or features that the company uses, such as storage, bandwidth, CPU, memory, or transactions4. Therefore, the monthly operating costs will vary depending on the usage and demand of the application. References: Capital Expenditure (CapEx) Definition; Cloud Computing Benefits: 7 Key Advantages for Your Business; Cloud Computing Licensing: What You Need to Know; Cloud Computing Pricing Models: A Comprehensive Guide.

Before initiating the project, the first step should be to identify the key stakeholders. The key stakeholders are the individuals or groups who have an interest or influence in the outcome of the project. They may include internal or external parties, such as executives, managers, employees, customers, suppliers, regulators, or partners1. Identifying the key stakeholders is important for several reasons, such as:

• Aligning the project goals and expectations: The key stakeholders can help to define the vision, scope, objectives, and requirements of the project. They can also provide feedback and approval throughout the project lifecycle. By involving the key stakeholders from the start, the project team can ensure that the project meets the needs and expectations of the stakeholders and delivers the desired value2.
• Securing the project resources and support: The key stakeholders can help to allocate the necessary resources and support for the project, such as budget, time, personnel, equipment, or data. They can also help to resolve any issues or conflicts that may arise during the project. By engaging the key stakeholders from the start, the project team can ensure that the project has the adequate resources and support to succeed3.
• Managing the project risks and changes: The key stakeholders can help to identify and mitigate the potential risks and changes that may affect the project, such as technical, operational, legal, or regulatory challenges. They can also help to communicate and implement the changes to the relevant parties. By collaborating with the key stakeholders from the start, the project team can ensure that the project adapts to the changing environment and minimizes the negative impacts4.

The other options are not as suitable as identifying the key stakeholders for the first step of the project because:

• The required network performance: The required network performance is the level of quality and speed that the network needs to provide for the cloud application. The required network performance is an important factor to consider for the project, but it is not the first step. The required network performance depends on the type, size, and location of the cloud application, which are determined by the key stakeholders’ input5.
• The desired CSP: The desired CSP is the cloud service provider that offers the cloud services and infrastructure for the cloud application. The desired CSP is an important factor to consider for the project, but it is not the first step. The desired CSP depends on the features, benefits, and pricing of the cloud services and infrastructure, which are evaluated by the key stakeholders’ criteria.
• The required cloud services: The required cloud services are the cloud-based resources and capabilities that the cloud application needs to function. The required cloud services are an important factor to consider for the project, but they are not the first step. The required cloud services depend on the functionality, scalability, and security of the cloud application, which are defined by the key stakeholders’ requirements.
• The required amount of storage: The required amount of storage is the amount of disk space that the cloud application needs to store its data. The required amount of storage is an important factor to consider for the project, but it is not the first step. The required amount of storage depends on the volume, variety, and velocity of the data, which are influenced by the key stakeholders’ expectations.

References:

• 1: What is a Stakeholder? - Project Management Institute
• 2: How to Identify Project Stakeholders - Smartsheet
• 3: How to Engage Stakeholders in Your Project - Clarizen
• 4: How to Manage Stakeholder Risk and Change - ProjectManager.com
• 5: Network Performance Requirements for Cloud Migration - Riverbed
• : How to Choose a Cloud Service Provider - IBM Cloud
• : Cloud Services: Types, Benefits, and Challenges - BMC Blogs
• : Cloud Storage: What It Is and How to Use It - Lifewire