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Congratulations Weekly Challenge 1

The document provides the results of a user's completion of two weekly challenges related to project management. For the first challenge, the user received a grade of 87.5% by answering questions correctly about project initiation topics. For the second challenge, the user received a perfect score of 100% by answering additional questions correctly about key project initiation components and their roles.

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Aalana Mascall
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345 views

Congratulations Weekly Challenge 1

The document provides the results of a user's completion of two weekly challenges related to project management. For the first challenge, the user received a grade of 87.5% by answering questions correctly about project initiation topics. For the second challenge, the user received a perfect score of 100% by answering additional questions correctly about key project initiation components and their roles.

Uploaded by

Aalana Mascall
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 6

Congratulations! You passed!

Grade received 87.50%


To pass 80% or higher
Go to next item
Weekly Challenge 1
Latest Submission Grade 87.5%

1.
Question 1
Fill in the blank: Project initiation includes determining resources, documenting key components, and
_____.
1 / 1 point
finalizing budgets
establishing a schedule
onboarding the team
solidifying scope
Correct

2.
Question 2
What two questions can a project manager ask to determine a project’s costs?
1 / 1 point
What are the ongoing project costs?
Correct
How will the user experience be improved?
How much time will people have to spend on the project?
Correct
What value will the project create?
3.
Question 3
What are the key components of project initiation?
1 / 1 point
Goals, scope, planning, documentation, success criteria, and resources
Goals, scope, deliverables, success criteria, stakeholders, and resources
Findings, scope, deliverables, monitoring progress, stakeholders, and resources
Findings, scope, planning, deliverables, success criteria, and resources
Correct

4.
Question 4
Imagine you’re the project manager of a new grocery delivery service. You meet with stakeholders to set an
overarching framework of what is and is not included in the project statement of work and deliverables.
Which project initiation component are you trying to determine?
1 / 1 point
Success criteria
Scope
Resources
Project charter
Correct

5.
Question 5
What term refers to the budget, people, materials, and other items necessary to complete a project?
1 / 1 point
Scope
Success criteria
Resources
Deliverables
Correct

6.
Question 6
A project charter adds value to projects in what three ways?
1 / 1 point
Helps project managers communicate project details to others
Correct

Includes a plan to mitigate potential risks


Allows project managers to get organized
Correct
Sets up a framework for what project work the team needs to do
Correct

7.
Question 7
Which of the following could be considered intangible benefits? Select all that apply.
1 / 1 point
Brand perception
Correct
Customer satisfaction
Correct
Income earned
Employee satisfaction
Correct

8.
Question 8
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?
0 / 1 point
(11,200 - 10,000) ÷ 15,000 = 8%
(15,000 - 11,200) ÷ 11,200 = 34%
(15,000 - 11,200) ÷ 15,000 = 25%
(15,000 - 10,000) ÷ 11,200 = 45%
Incorrect
Please review the reading on performing a cost-benefit analysis.

Congratulations! You passed!


Grade received 100%
Latest Submission Grade 100%
To pass 80% or higher
Go to next item
1.
Question 1
Why is it important to initiate a project? Select all that apply.
1 / 1 point

Help the project manager establish a good reputation

Solidify the scope of a project


Correct

Provide a strong foundation and set the stage for success


Correct

Determine if the project’s benefits outweigh the costs


Correct

2.
Question 2
What type of analysis compares the value of a project’s outcomes with the financial and time
expenses of the project?
1 / 1 point

Visual analysis
Cost-benefit analysis

Benefit analysis

Goals analysis
Correct

3.
Question 3
What are the key components of project initiation?
1 / 1 point

Findings, scope, deliverables, monitoring progress, stakeholders, and resources

Goals, scope, deliverables, success criteria, stakeholders, and resources

Goals, scope, planning, documentation, success criteria, and resources

Findings, scope, planning, deliverables, success criteria, and resources


Correct

4.
Question 4
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?
1 / 1 point

Goals

Success criteria

Project charter

Resources
Correct

5.
Question 5
As a project manager, you complete the stages in the project initiation phase. Who do you meet with
to get project approval?
1 / 1 point

The project stakeholders

The vendors working on the project

The project resources


The developing team
Correct

6.
Question 6
What type of document needs approval from key stakeholders in order to move to the planning
stage?
1 / 1 point

A project charter

A retrospective document

A risk log

A budget plan
Correct

7.
Question 7
When calculating a cost-benefit analysis for a project, what do you call gains that are not
quantifiable?
1 / 1 point

Quarterly income

Ongoing costs

Yearly profits

Intangible benefits
Correct

8.
Question 8
You expect that a project will bring in $22,000 USD in revenue per year. You estimate it will cost
$10,000 up front. You also estimate costs of $200 per month for the first 12 months, which equals
$2,400 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?
1 / 1 point

(15,000 - 10,000) ÷ 12,400 = 45%

(22,000 - 12,400) ÷ 22,000 = 25%

(12,400 - 10,000) ÷ 22,000 = 8%

(22,000 - 12,400) ÷ 12,400 = 77%


Correct

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