11. Which of the following are key components of project initiation? Select all that apply.
- Scope
- Success criteria
- Project charter
- Goals
12. As a project manager, you define the standards to meet for the project’s success. Which key component of project initiation does this scenario concern?
- Resources
- Success criteria
- Deliverables
- Scope
13. Imagine that the main supplier for a construction project runs out of steel girders and needs to obtain more to complete the order. Which key component of project initiation does this scenario concern?
- Resources
- Goals
- Scope
- Deliverables
14. What is the purpose of a project charter?
- Determines project roles and assign associated tasks
- Establishes communication channels and record preferred methods
- Defines the project and its goals and outline what is needed to accomplish them
- Outlines how to mitigate potential risks
15. When calculating a cost-benefit analysis for a project, what do you call gains that are not quantifiable?
- Yearly profits
- Intangible benefits
- Ongoing costs
- Quarterly income
16. You expect that a project will bring in $15,000 USD in revenue per year. You estimate it will cost $10,000 up front. You also estimate costs of $100 per month for the first 12 months, which equals $1,200 per year. Using the formula (G-C) ÷ C = ROI, how would you calculate the project’s return on investment (ROI) after the first 12 months?
- (15,000 – 11,200) ÷ 11,200 = 34%
- (15,000 – 10,000) ÷ 11,200 = 45%
- (11,200 – 10,000) ÷ 15,000 = 8%
- (15,000 – 11,200) ÷ 15,000 = 25%
17. In the initiation phase, a project manager performs research, consults with stakeholders, and clearly documents key project components. What does going through this process help them solidify?
- Project tasks
- Project scope
- Project delivery dates
- Project closeouts
18. As a project manager, you add a task to complete a new feature in the app your team is building. Which key component of project initiation are you working on?
- Success criteria
- Deliverables
- Scope
- Resources
Shuffle Q/A 2
19. As a project manager, you determine the budget, people, and material that you will need for an upcoming project. Which project initiation component are you trying to determine?
- Project charter
- Goals
- Resources
- Success criteria
20. As a project manager, you complete the stages in the project initiation phase. Who do you meet with to get project approval?
- The vendors working on the project
- The developing team
- The project stakeholders
- The project resources
