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 tasks
- 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.
28. Fill in the blank: A cost-benefit analysis weighs the potential value of a project against money, resources, and _____ required.
- 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
