## Week 1 – Fundamentals of project initiation – Shuffle Q/A 2

#### 21. Which document allows project managers to get organized, sets up a framework for what needs to be done, and communicates the framework to stakeholders?

• A project charter
• A risk log
• A retrospective document
• A budget plan

#### 22. 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 scope
• Project delivery dates
• Project closeouts

#### 23. As a project manager, you analyze the amount of time team members will need to spend on a project and the likely ongoing project expenses. What step of the cost benefit analysis are you completing?

• Benefit analysis
• Goals analysis
• Cost analysis
• Expense analysis

#### 24. As a project manager, you work with key stakeholders to define what needs to be completed and achieved for a project . Which key component of project initiation does this scenario concern?

• Resources
• Deliverables
• Goal
• Success criteria

#### 25. What type of document needs approval from key stakeholders in order to move to the planning stage?

• A risk log
• A retrospective document
• A project charter
• A budget plan

#### 26. You expect that a project will bring in \$20,000 USD in revenue per year. You estimate it will cost \$8,000 up front. You also estimate costs of \$150 per month for the first 12 months, which equals \$1,800 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?

• (20,000 – 8,000) ÷ 9,800 = 90%
• (20,000 – 9,800) ÷ 9,800 = 104%
• (20,000 – 9,800) ÷ 8,000 = 88%
• (20,000 – 14,400) ÷ 9,800 = 108%

#### 27. What are two potential consequences of a project manager failing to properly initiate a project? Select all that apply.

• Stakeholders might not agree on what success looks like.
• External risks can affect project success.
• New dependencies can arise.
• Resources can be underestimated.

• policies
• time
• expectations
• competitors

# Shuffle Q/A 3

#### 29. As a project manager, you meet with stakeholders to set what products and services you will complete for the project. Which project initiation component are you trying to determine?

• Success criteria
• Resources
• Deliverables
• Scope

#### 30. Which of the following could be considered intangible benefits? Select all that apply.

• Customer satisfaction
• Brand perception
• Income earned
• Employee satisfaction