Week 1 – Fundamentals of project initiation – Shuffle Q/A 3

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

  • policies
  • competitors
  • time
  • expectations

32. What key component in the project management cycle is a meeting scheduled with staff to train on a new product?

  • Scope
  • Deliverable
  • Resource
  • Success Criteria

33. As a project manager, what question will you ask to determine the brand perception of a project?

  • Is this project likely to improve the company’s image and attract more customers?
  • Will the project increase customer retention and cause them to spend more time on the product?
  • Will this project reduce employee’s overtime hours and save the company money?
  • Is this project likely to improve employee morale and reduce turnover?

34. Fill in the blank: _____ are the first thing a project manager needs to consider during the initiation phase.

  • Planning
  • Success criteria
  • Goals
  • Resources

35. In a project, what group of people are instrumental to determine goals and the success criteria of a project?

  • Project vendors
  • Project caterers
  • Project developers
  • Project stakeholders

36. Imagine you’re the project manager of a new grocery delivery service. You meet with stakeholders to decide how to measure project success. Which project initiation component are you trying to determine?

  • Goals
  • Scope
  • Success criteria
  • Resources

37. During the initiation phase, you notice the resources assigned to the project will be minimal and the deadline will be extended. What is a next step to ensure project initiation success?

  • Meet with stakeholders for sufficient understanding of project goals.
  • Create an efficient project plan.
  • Create checkpoints in the project for all milestones.
  • Ensure all the tasks are assigned on the project.

38. What type of analysis compares the value of a project’s outcomes with the financial and time expenses of the project?

  • Goals analysis
  • Cost-benefit analysis
  • Benefit analysis
  • Visual analysis

39. You expect that a project will bring in $12,000 USD in revenue per year. You estimate it will cost $5,000 up front. You also estimate costs of $50 per month for the first 12 months, which equals $600 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?

  • (12,000 – 5,600) ÷ 5,000 = 128%
  • (12,000 – 5,600) ÷ 5,600 = 114%
  • (5,600 – 5,000) ÷ 12,000 = 5%
  • (12,000 – 5,000) ÷ 5,000 = 140%

40. Why is it important to perform a cost-benefit analysis during the initiation phase? Select all that apply.

  • To add up the expected value, or benefits, of a project
  • To outline project goals and how to accomplish them
  • To compare the project benefits to the costs
  • To set up a framework for what project work the team needs to do

Devendra Kumar

Project Management Apprentice at Google

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