24 Free Online PMP Sample Exam On Initiating Project

Get ready for your PMP exam with 24 free online PMP sample exam on initiating project. While there’re available numerous PMP exam questions related to project initiation phase on the market, what makes this sample one of market leaders is its simple format that makes your online test practice easier and more refreshing, and its tight focus on this first performance domain. No matter how experienced you are in this phase, you’re highly recommended to take related practice tests if you want to get ready for actual exam questions on domain 1. It’s because even if you’re a veteran in the project management, the terms and processes that you have used may not be aligned with PMI’s expectations. Crushing sample questions will master your knowledge, train you well in the exam conditions and charge up your confidence. Hope your PMP exam a big success and your career is brightest ever.

For your mastery of project initiation:
80 Free Online PMP Exam Questions On Project Initiation
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24 Free Online PMP Sample Exam On Initiating Project

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

Co-located
operations
project
program

nine project management groupings, or knowledge areas that bring together common or related processes. Integration, scope, time, cost, quality, human resource, communications, risk and procurement.

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

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

Co-located
payback period
project
operations

when team members work in the same physical location

operations
Co-located
program
project

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

scoring model
Co-located
decision model
economic model

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

project managers
project
project management
expert judgement

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.

Co-located
decision model
scoring model
economic model

methods used to determine which projects should be approved and move forward

project managers
project-based organizations
project selection methods
Benefit Measurement Methods

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

matrix organization
functional organization
operations
project-based organizations

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.

feasibility study
operations
project managers
cost benefit analysis

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

expert judgement
project selection methods
project management
Benefit Measurement Methods

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

matrix organization
project-based organizations
functional organization
Co-located

involve ongoing functions that support the production of goods or services, no beginning or end.

program
project
operations
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 flow 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

expert judgement
project management
project managers
net present value (NPV)

An organizational structure focused on projects. Project managers 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.

functional organization
matrix organization
project selection methods
project-based organizations

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
scoring model
Co-located
economic model

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 managers
project
project management
operations

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

internal rate of return (IRR)
functional organization
net present value (NPV)
discounted cash flow (DCF)

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.

Co-located
program
operations
project

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

Co-located
decision model
economic model
feasibility study

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

matrix organization
constrained optimization methods
project selection methods
Benefit Measurement Methods

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

decision model
economic model
scoring model
discounted cash flow (DCF)

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 judgement can come from other stakeholders

project
expert judgement
project management
operations

the project management association

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

24 Free Online PMP Sample Exam On Initiating Project

24 Free Online PMP Sample Exam On Initiating Project

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