38 Free Online PMP Question Bank For Initiating The Project

Getting engaged in the those accessible multiple choice PMP questions free online will facilitate your improvement of knowledge and skills used in domain 1: initiating the project. Indeed, there’re available multiple practice sources related to PMP exam though, what makes this test bank special is its user orientation. Those questions are showcased in ways that shine out on the simple and navigating background. You may check out your answers and see your score after hitting submit button. That way, it will be far from difficult for you to measure where you’re in the study and define which knowledge you are weaker at. On a whole, they are friendly and useful throughout, enabling your comforting practice experience, skilling up and defining your limitations. Have you tried it?

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38 Free Online PMP Question Bank For Initiating The Project

Temporary endeavor, 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.

co-located
program
operations
project

Ongoing and repetitive functions that support the production of goods or services. They don't have a beginning or an end.

operations
program
co-located
project

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

economic model
Interpersonal skill
discounted cash flow (DCF)
decision model

defines the advantages to the organization for undertaking the project. It includes tangible and intangible benefits and reasons for bringing about the project.

Functional managers
functional organization
Justification for a project
Planning the Project

The project management standard developed by the Project Management Institute.

Project Management Institute (PMI)
A Guide to the Project Management Body of Knowledge (PMBOK Guide)
Validating the project involves
Project Management Knowledge Areas

responsible for designing and implementing potential solutions and providing specialist expertise. Developers, Software Eng, etc

Subject Matter Experts (SME)
project management
project managers
Project Management Institute (PMI)

ONLY in Develop Project Charter: 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.

operations
project
project management
expert judgment

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.

project managers
business case
cost-benefit analysis
strong matrix

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.

economic model
scoring model
DCF Formula
decision model

When team members work together at the same physical location.

co-located
project
program
operations

Project = $450k in year 1 + $2.5 in year 2 + $3.2 in year 3 = Cash Flow in Todays Dollars

DCF Formula
co-located
IRR Formula
NPV Formula

1. preparing the business case and identifying 2. analyzing the project stakeholders.

project managers
Validating the project involves
Planning the Project
project management

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

project
project managers
project management
expert judgment

Most important skill in order to build a diverse project team that can work together efficiently and effectively,

operations
Interpersonal skill
economic model
decision 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.

functional organization
matrix organization
strong matrix
project-based organization

'Projects > IRR' > 'Projects < IRR'higher IRR values are considered better than projects with lower IRR values.

project
IRR Formula
NPV Formula
DCF Formula

organization emphasizes project work over functional duties. The project manager has the majority of power in this type of organization.

scoring model
strong matrix
balanced matrix
weak matrix

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

project selection methods
matrix organization
functional organization
constrained optimization methods

a document that determines if a proposed project is worth doing based on the cost, time, and most often the return on investment for the project.

decision model
balanced matrix
business case
scoring model

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

decision model
economic model
co-located
scoring model

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

project selection methods
project managers
project management
benefit measurement methods

organization shares equal emphasis between projects and functional work. Both the project manager and the functional manager share power in this type of structure.

strong matrix
balanced matrix
payback period
weak matrix

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
strong matrix
scoring model
economic model

Revenue (All years add up) - Initial Investment =Overall Value.Greater than 0 you should accept the project.

project
NPV Formula
IRR Formula
DCF Formula

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

program
operations
IRR Formula
project

A form of organizational structure.Traditional organizations with hierarchical reporting structures.

functional organization
matrix organization
project-based organization
Functional managers

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

Functional managers
project managers
project
project management

(Coordinator or Expeditor) organization emphasizes functional work over project work and operates more like a functional hierarchy. The functional mangers have the majority of power in this type of organization.

balanced matrix
co-located
strong matrix
weak matrix

The world's leading professional project management association.

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

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

weak matrix
decision model
business case
feasibility study

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
functional organization
project managers
matrix organization

a project manager spends most of their time performing

Planning the Project
scoring model
project
Validating the project involves

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

co-located
weak matrix
balanced matrix
payback period

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.

project management
benefit measurement methods
project selection methods
expert judgment

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

balanced matrix
internal rate of return (IRR)
net present value (NPV)
Interpersonal skill

responsible for assigning work to the employees who report to them. They are also responsible for rating the performance of the employees and determining their raises or bonuses

Functional managers
strong matrix
functional organization
project managers

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.

Interpersonal skill
project management
expert judgment
net present value (NPV)

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

38 Free Online PMP Question Bank For Initiating The Project

38 Free Online PMP Question Bank For Initiating The Project

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