You are the newly appointed project manager for a pharmaceutical company. Your company has asked you to head up a project to research a new children's medication. You've identified the lab equipment you'll need, the software needed to perform analysis and measurements, and the skill level and types of the technicians and researchers for this project. Which of the following is true? A. The project manager and resources have been identified as part of the outputs of the Initiation process, and this information can be found in the project charter. B. The resources and project manager have been identified as an input to the project Initiation phase. Further information is needed to produce the project charter, which will include the resources and project manager. C. The project manager and resources have been identified as part of the project selection process. The selection committee requires resource information to make a final decision. D. The resources and project manager have been identified as part of the project selection process. The selection committee requires resource information to make a final decision.

Your selection committee meets on a semiannual basis. They've determined that projects must meet or exceed a specific profit limit in order to be accepted and prioritized on the project list. Which of the following is true? A. The selection committee has defined project selection criteria, which is a tool and technique of Initiation. B. The selection committee has defined project selection methods, which is a tool and technique of Initiation. C. The selection committee has defined project selection methods, which is an input to Initiation. D. The selection committee has defined project selection criteria, which is an input to Initiation.

What are the Initiation process outputs? A. Project charter, historical information, and project manager identification and assignment B. Project charter, project manager identification and assignment, constraints, and assumptions C. Project charter, historical information, constraints, and assumptions D. Project charter, constraints, and assumptions

Ruby is an administrative assistant with another department. Her manager has agreed to loan Ruby's services to you on a part-time basis during your current project. Ruby is putting together the cost projections you've gathered so far. You want to include these costs in the project charter. Ruby is formatting this information for you into a spreadsheet package and is printing copies. Which of the following is true? A. All of the costs, including Ruby's time, are charged to the project. B. All of the costs, Ruby is typing into the spreadsheet are project costs. Ruby's time is not directly related to the project and should not be included. C. The project costs, including Ruby's time, should be included in the project charter. D. The project costs, excluding Ruby's time, should be considered project constraints.

Your project selection committee used a weighted scoring model and found that Project B, with a score of 54, should be chosen over the other competing projects. Which of the following is true? A. Weighted scoring models are a benefit measurement method, which is a tool and technique in the Initiation process. B. Weighted scoring models are a constrained optimization method, which is an output of the Initiation process. C. Weighted scoring models are a constrained optimization method, which is a tool and technique in the Initiation process. D. Weighted scoring models are a benefit measurement method, which is an output of the Initiation process.

Your selection committee is debating between two projects. Project A has a payback period of 18 months. Project B has a cost of $125,000 with expected cash inflows of $50,000 the first year and $25,000 per quarter after that. Which project should you recommend? A. Either Project A or Project B because the payback periods are equal B. Project A because Project B's payback period is 21 months C. Project A because Project B's payback period is 24 months D. Project A because Project B's payback period is 20 months

Which of the following is true? A. Discounted cash flow analysis is the least precise of the cash flow techniques as it does not consider the time value of money. B. NPV is the least precise of the cash flow analysis techniques as it assumes reinvestment at the discount rate. C. Payback period is the least precise of the cash flow analysis techniques as it does not consider the time value of money. D. IRR is the least precise of the cash flow analysis techniques because it assumes reinvestment at the cost of capital.

Project selection criteria might include: A. Benefit measurement methods B. Constrained optimization analysis C. NPV calculations D. Potential market share or increased public perception

You are a project manager for Zippy Tees. Your selection committee has just chosen a project you recommended for implementation. Your project is to manufacture a line of miniature stuffed bears that will be attached to your company's trendy T-shirts. The bears will be wearing the same T-shirt design as the shirt they're attached to. Your project sponsor thinks you've really impressed the big boss and wants you to skip to the manufacturing process right away. What is your response? A. To agree with the project sponsor because they are your boss, and they have a lot of authority and power in the company. B. To require that a preliminary budget be established and a resource list be put together to alert other managers of the requirements of this project. This should be published and signed by the other managers who are impacted by this project. C. To require a project charter be published and signed off on by all stakeholders before proceeding. D. To require a project charter be written to include the resource needed, budget, and project manager's authority. The project manager is the only one who needs to see this document as other documents will be distributed later that contain the same detail as the charter.

Which of the following is true regarding the project charter? A. The project charter should be published under the name of a manager external to the project. B. The project charter should be published under the project sponsor's name. C. The project charter should be published under the name of the project manager. D. The project charter should be published under the name of the project champion.

You are the project manager for Zippy Tees. Your company has decided to outsource the manufacturing of miniature bears to be attached to your trendy T-shirts. Which of the following is true? A. A good product description is all that's required. The project manager will supply this to the vendor. B. The contract can serve as the project charter. The product description will be included in the contract. C. The project manager should write the project charter because the project manager will be managing the vendor portion of this project as well. D. The vendor should write the project charter as they are responsible for manufacturing the bears.

The project charter: A. Includes a product description, describes the business need of the project, and is published by the project manager B. Includes a product description, describes the business need of the project, and is published by the project sponsor C. Includes the contract when the project is performed by a vendor and is published by a manager external to the project D. Includes a product description, describes the business need of the project, and is published by a manager external to the project

You are a project manager for Laredo Pioneer’s Traveling Rodeo Show. You’re heading up a project to promote a new line of souvenirs to be sold at the shows. You need to gather the inputs to write the scope statement. You gather which of the following? A. Project charter, product description, assumptions, and constraints B. Project charter, product analysis, and cost benefit analysis C. Product description, product analysis, and project charter D. Product description, assumptions, constraints, and product analysis

You are a project manager for Laredo Pioneer’s Traveling Rodeo Show. You're heading up a project to promote a new line of souvenirs to be sold at the shows. You're ready to write the scope statement, and you know it should contain which of the following? A. Project justification, benefit/cost analysis, project deliverables, and product analysis B. Product analysis, project product, and project deliverables C. Project justification, project product, project deliverables, and project objectives D. Product analysis, project deliverables, benefit/cost analysis, and project objectives

Which of the following is true regarding the scope statement? A. It describes how to make changes to project scope. B. It describes project deliverables and serves as a baseline for future project decisions. C. It assesses the stability of the project scope and is a baseline for future project decisions. D. It assesses the reliability of the project scope and describes the frequency of changes and their impacts.