During the initiation phase, you notice the resources assigned to the project will be minimal and the deadline will be extended. What is a next step to ensure project initiation success?
Fill in the blank: A cost-benefit analysis weighs the potential value of a project against money, resources, and _____ required.
Which of the following are key components of project initiation? Select all that apply.
As a project manager, you meet with stakeholders to set what products and services you will complete for the project. Which project initiation component are you trying to determine?
Imagine that a university hires a construction company to build a new library. Before starting, the project manager outlines the building materials the project needs. They also outline the roles and amount of workers to hire. Which key component of project initiation does this scenario concern?
Fill in the blank: A _____ is a document that defines project goals and outlines what is needed to accomplish them.
Which of the following could be considered intangible benefits? Select all that apply.
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?
