project initiation starting a successful project weekly challenge 2 answers
1. As a project manager, you’re using the SMART criteria to craft goals for your team. During the process, you ask yourself if a goal is aligned to the organization or the company’s goals. Which SMART criteria does this question represent?
- Relevant
- Attainable
- Time-bound
- Specific
- Measurable
2. Which of the following scenarios best represents a project that is going out-of-scope?
- The deliverable to present your project’s pre-launch event at a three-day, in-person conference is now an online conference. The switch reduces the costs associated with event space, travel, and people resource tim.
- During the project weekly meeting, the project manager learns the main vendor will increase the cost of raw materials by 20% due to an international shortage.
- The manufacturer of one of the project deliverables just lost power after a large storm. They don’t expect to be in production for one week, delaying the project timeline.
- During the project weekly meeting, the project sponsor adds a new deliverable requirement that costs $10,000 USD. This addition surpasses the budget by $5,000 USD.
3. Consider the following scenario:
A new company project isn’t going well. The company hires outside evaluators to review the project. The evaluators tell the company that its plan has too many delays and that the company won’t be able to complete the project on time. They also identify one issue causing a delay is the company and the investors (stakeholders) have different expectations of what the completed project should be.
What step could the company have taken to avoid scope creep?
- Have stakeholder involvement before the project begins.
- Hire a different organization to review the project.
- Require more detailed bids from the evaluators in writing.
- Make the investors adopt the company’s project expectations.
4. Fill in the blank: The difference between a goal and a deliverable is that the goal is the desired outcome of the project and the deliverable is a _____ of the project.
- progress
- success criteria
- tangible outcome
- SMART method
5. Which of the following scenarios best represents project launch?
- The client agrees to the initial timeline and budget.
- The website development team researches a specific audience through sales data analysis.
- The project team releases a new product.
- The project manager works with stakeholders to develop project goals and deliverables.
6. Consider the following scenario: The Director of Product requests that the project manager do what they can to finish the project early. However, the Director also states that they cannot spend any additional funds.
Using the triple constraint model, what trade-off could the project manager use to meet the Director of Product’s request?
- Change the budget
- Change the project goal
- Change the project scope
- Change the team
7. Which of the following indicate whether a project manager accomplishes what they set out to do?
- Deviation critera
- Launch standard
- Accuracy standard
- Success criteria
8. Which of the following is an engagement metric?
- A 20% increase of participation time within an app.
- A 35% increase of first-time customers.
- Number of new customer sign-ups for a subscription.
- Double the amount of initial orders.
9. How will you quantify if you’re landing a project at its intended goal?
- Check if the project meets the initial success criteria
- Ask the clients if they’re happy with the result
- Send out feedback surveys to team members
- Solicit stakeholders for their opinions
10. Suppose as a project manager you’re receiving requests from stakeholders to add new features to the product you’re developing. How would you deal with this external scope creep?
- Implement the initial stakeholders requests and then ban all future requests.
- Agree on who can make formal requests and how your team will evaluate and act on those requests.
- Ignore the requests because the project is already underway.
- Take a team vote to decide if the team should add the new feature to the product.
11. Which of the following is true about Objectives and Key Results (OKRs)?
- Adoption and engagement are often used as metrics to measure results.
- There are typically 2–3 objectives for every key result.
- OKRs are rarely used to determine a project’s success criteria.
- OKRs are mainly for team-based metrics and not for individuals.
Shuffle Q/A 1
12. As a project manager, you’re using the SMART criteria to craft revenue goals for your team. During the process, you determine that current business conditions will allow for a maximum revenue increase of about 4.5% over last year’s revenue. Based on this estimate, you set a goal for your team to show at least 1% revenue increase each quarter of this year. In this instance, which SMART criteria are you using?
- Specific
- Measurable
- Attainable
- Relevant
- Time-bound
13. Which of the following demonstrates a project manager keeping the project in-scope? Select all that apply.
- The key stakeholder meets with the project manager to set the scope and deliverable agreements in writing. The project manager keeps the key stakeholder informed while communicating with project team members.
- The key stakeholder has had to meet with the project manager several times to define the project scope. The project manager is delaying meetings and is unclear about project tasks.
- The key stakeholder and the project manager clearly define the project scope in the initial planning stage. The project manager documents all the details to be referred to throughout the project life cycle.
- The key stakeholder clearly states the project needs to be completed in 6 months and must stay within scope. The project manager has not been able to keep the project on schedule and has yet to inform the key stakeholder of the delay.
