41 Free PMP Certification Questions On Project Initiation

Move on with your practice on project management initiation phase by crushing 41 free PMP certification questions on project initiation. They are multiple choice questions friendly formatted with instant answers and score. Inside, what is covered in this sample can be listed as benefit measurement benefits, constraint optimization models, decision model, DCF, feasibility study, and more. Then don’t miss to delve into it to get ready for your PMP exam preparation and collect your best points!

You can find more neccessary information on project initiation here:
73 Free Online PMP Sample Questions On Initiating Project
20 Free Online PMP Test Questions On Initiating Project

41 Free PMP Certification Questions On Project Initiation

A type of benefit measurement method. It is a series of financial calculations that provide data on the overall financials of the project and is generally used as a project selection technique.

decision model
economic model
scoring model
What is economic model

Used to determine which proposed projects are approved to move forward.

project manager
project selection
project selection methods
project management

It is a method for selecting a project. It is based on comparison and benefit analysis.

What are the costs of quality
What is the decision model?
What is economic model
decision model

The project management standard developed by the Project Management Institute.

A Guide to the Project Management Body of Knowledge (PMBOK Guide)
Name the nine Knowledge Areas outlined in the PMBOK Guid
Project Management Knowledge Areas
Project Management Institute (PMI)

The discount rate when the present value of the cash inflows equals the original investment. Projects with higher IRR values are generally considered better than projects with lower IRR values. Assumes that cash inflows are reinvested at the IRR value.

functional organization
internal rate of return (IRR)
net present value (NPV)
contingency reserve i

Scope, Time, Cost, Quality, Risk, Communications, Human Resources, Procurement, Integration Management

What are the ways to deal with negative risk
Name the nine Knowledge Areas outlined in the PMBOK Guid
Project Management Knowledge Areas
Name the steps in validating a business case

An organizational structure focused on projects. Project managers generally have ultimate authority over the project, and sometimes supporting departments such as human resources and accounting might report to the project manager. Project managers are responsible for making project decisions and acquiring and assigning resources.

project-based organization
matrix organization
project selection
functional organization

Exploit, Share, Enhance

What are the costs of quality
What are the ways to deal with pos8itive risk
What is the decision model?
What are the ways to deal with negative risk

A type of decision model that compares the benefits obtained from a variety of new project requests by evaluating them using the same criteria and comparing the results.

benefit measurement methods
Quality management methods
Management reserve
project selection methods

Operations typically involve ongoing functions that support the production of goods or services. They don't have a beginning or an end.

program
Risk
operations
project

Extra money budgeted for the project that cannot be released by the project manager

contingency reserve i
What is CPM
cost baseline
Management reserve

A grouping of related projects that are managed together to capitalize on benefits that couldn't be achieved if the projects were managed separately.

cost
project
program
Risk

Undertaken to determine whether the project is a viable project, the probability of project success, and the viability of the product of the project.

decision model
feasibility study
What is CPM
economic model

An organizational structure where employees report to one functional manager and at least one project manager. Functional managers assign employees to projects and carry out administrative duties, while project managers assign tasks associated with the project to team members and execute the project.

project-based organization
functional organization
project selection
matrix organization

Metrics, checklists, exit criteria

Management reserve
project management
benefit measurement methods
Quality management methods

Compares the value of future cash flows of the project to today's dollards

economic model
discounted cash flow (DCF)
Discounted cash flow
cost baseline

Comparing similar activities

Risk
cost baseline
Benchmarking
operations

Feasibility study, justification, and alignment to the strategic plan

Name the steps in validating a business case
net present value (NPV)
What are the ways to deal with negative risk
What are the ways to deal with pos8itive risk

Avoid, Transfer, Mitigate, Accept

What are the ways to deal with pos8itive risk
What are the costs of quality
What are the ways to deal with negative risk
What is the decision model?

Compares the value of the future cash flows of the project to today ' s dollars.

discounted cash flow (DCF)
cost baseline
economic model
Discounted cash flow

A form of organizational structure. Functional organizations are traditional organizations with hierarchical reporting structures.

matrix organization
functional organization
project-based organization
co-located

The length of time it takes a company to recover the initial cost of producing the product or service of the project.

project selection
cost baseline
payback period
co-located

benefit analysis - A commonly used benefit measurement method that calculates the cost of producing the product, service, or result of the project and compares this to the financial gain the project is expected to generate.

program
Risk
cost
project

Critical Path Method

Risk
program
cost
What is CPM

total approved expected cost for the project.

cost baseline
Benchmarking
cost
co-located

Prevention, appraisal (inspection, testing and formal quality audits), failure

What is economic model
Discounted cash flow
What are the costs of quality
What is the decision model?

A certain amount of money set aside to cover costs resulting from possible adverse events on the project

contingency reserve i
cost baseline
Management reserve
scoring model

The nine project management groupings, or Knowledge Areas, that bring together common or related processes. They are Integration, Scope, Time, Cost, Quality, Human Resource, Communications, Risk, and Procurement.

project manager
Project Management Institute (PMI)
Project Management Knowledge Areas
project management

A technique used in project selection, determining estimates, and determining other related project information that relies on the knowledge of those with expertise on the requested subject matter. Expert judgment can come from stakeholders, other departments, consultants, team members, vendors, or industry groups.

project
project management
expert judgment
operations

The person responsible for applying the skills, knowledge, and project management tools and techniques to the project activities to successfully complete the project objectives.

project manager
project management
project
project selection

Temporary in nature, with a definite start and end date; creates a unique product, service, or result. It is completed when the goals and objectives of the project have been met and signed off on by the stakeholders.

cost
project
program
Risk

The most common project selection methods are benefit measurement methods such as cost - benefit analysis, scoring models, payback period, and economic models (which include discounted cash flows, NPV, and IRR), as well as expert judgment.

project management
project selection methods
project manager
project selection

One of the benefit measurement methods used for project selection. It contains a predefined list of criteria against which each project is ranked. Each criterion has a scoring range and a weighting factor. A scoring model can also be used as a tool to select from among competing vendors.

decision model
economic model
scoring model
co-located

Evaluation of the cash inflows using the discounted cash flow technique, which is applied to each period the inflows are expected. The total present value of the cash flows is deducted from the initial investment; this assumes that cash inflows are reinvested at the cost of capital. It is similar to discounted cash flows.

Management reserve
net present value (NPV)
project selection
project management

A formal method of project selection that helps managers make the best use of limited budgets and human resources. Includes benefit measurement methods and constrained optimization models.

operations
economic model
decision model
scoring model

Decision models that use complex principles of statistics and other mathematical concepts to assess a proposed project.

matrix organization
What is the decision model?
constrained optimization models
functional organization

Probability is risk times impact

cost
project
Risk
program

When team members work together at the same physical location.

co-located
project
cost
cost baseline

Applying skills, knowledge, and project management tools and techniques to fulfill the project requirements.

project manager
project selection
project management
expert judgment

The world's leading professional project management association.

project manager
Project Management Knowledge Areas
project management
Project Management Institute (PMI)

Project selection process based on financial calculations

What is the decision model?
What is CPM
economic model
What is economic model

41 Free PMP Certification Questions On Project Initiation

41 Free PMP Certification Questions On Project Initiation

Share:

Related

Leave a Reply Cancel reply