COURSE 2- PROJECT INITIATION: STARTING A SUCCESSFUL PROJECT QUIZ ANSWERS

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1 Week 1: Fundamentals of Project Initiation
2 FUNDAMENTALS OF PROJECT INITIATION INTRODUCTION
3 TEST YOUR KNOWLEDGE: PROJECT INITIATION AND KEY COMPONENTS
4 PROJECT INITIATION: STARTING A SUCCESSFUL PROJECT WEEKLY CHALLENGE 1
5 Fundamentals of Project Initiation CONCLUSION
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Week 1: Fundamentals of Project Initiation

FUNDAMENTALS OF PROJECT INITIATION INTRODUCTION

The Google Project Management: Professional Certificate course from Coursera provides entry-level knowledge on project commencement, management, and closure of the projects. It deals with topics on how organizational structures impact project management, impacts of organizational culture, and contributions of project managers toward the change management process. It also teaches best practices in stakeholder engagements, communication channels among team members, techniques for risk analysis, budgeting processes, and models of resource allocation.

Over 14-week period, students will create an actionable strategic plan for their career advancement strategy as a component of their job search preparation. Coursera also has mentorship programs that connect students with professionals from different industries and expertise. It provides many more to build professional networks with improved communication skills to negotiate better.

Learning Outcomes:

  • Understand the definition of change management and its significance in the role of a project manager.
  • Understand the concept of organizational culture and its nature in project management.
  • Identify the different types of organizational structures, in general.
  • The effect of the organization structure on project management.

TEST YOUR KNOWLEDGE: PROJECT INITIATION AND KEY COMPONENTS

1. Which of the key components is the project’s goal? Write one sentence.

  • The amount of money and the resources needed (CORRECT)

Correct: The project aim is to introduce a digital grading platform for high schools and to have full acceptance of this innovation by teachers. Usually, top executives set this type of goal.

2. Which key component outlines the project’s scope? Write one sentence.

  • Overall the school is seeking a digital platform for grading. (CORRECT)

Correct: Under this scenario, the project scope is creating the digital grading platform without upgrading other digital platforms like those of the school for attendance or meal payments.

3. Which key component is the project deliverable? Write one sentence.

  • Able to access the grades form a digital platform (CORRECT)

Correct: An illustration is that the deliverables are the platform that allows teachers to enter grades and a feature that enables students to view their grades. The outcomes of the project are, thus, the tangible ones.

4. Which key component outlines the project’s success criteria? Write one sentence.

  • Having all teachers in to sample the product before the reopening of school (CORRECT)

Correct: Criteria for success regarding this project would be to have 100% of the teachers adopt the digital grading platform. This would happen over the next nine months. Such a standard lays down a criterion to measure the project with respect to achieving the goal of full teacher adoption.

5. Who are the project stakeholders? Write one sentence.

  • Teachers from the it department, students and administrative staff (CORRECT)

Correct: The stakeholders affiliated with this project are teachers, students, parents, school administrators, the school IT department, and the district superintendent. Commercializing a digital grading platform project would actually touch one or more of the stakeholder categories listed above.

6. Which key components outline the resources you will have at your disposal for the project?

  • IT staff and students (CORRECT)

Correct: For this particular case, the resources available for the project are a budget of $150,000 and an appointed member from the school’s IT department. These are some of the most important resources that are needed to complete the digital grading platform project.

7. What are some of the project manager’s responsibilities during the initiation phase? Select all that apply.

  • Identify project goals (CORRECT)
  • Determine the criteria for project success with stakeholders (CORRECT)
  • Identify project resources (CORRECT)
  • Make the project plan

Right: Understanding well about what constitutes project success keeps the stakeholders on the same page.

Correct: Clear communication with stakeholders during initiation saves much time and effort in the future.

Right: Knowing the available resources can save a project from a budget overrun.

8. What questions can a project manager ask to determine a project’s benefits? Select all that apply.

  • How much money can this project save our organization? (CORRECT)
  • What can cause the project to fail?
  • How much time will this project save customers? (CORRECT)
  • Has the company announced a public launch date for the project?

Correct: Understanding the savings generated by a project plays a vital role in helping project managers evaluate whether the savings offset the cost involved in executing a project.

Correct: Understanding the time savings a project can deliver to customers helps stakeholders understand its value.

9. Which of the following are key components of project initiation?

  • Timeline
  • Scope (CORRECT)
  • Goals (CORRECT)
  • Resources (CORRECT)
  • Deliverables (CORRECT)

Correct: The process scope specifies the activities necessary to fulfill the project.

Correct: The objective is what you have been given to accomplish and the direction of what you need to accomplish.

Correct: Generally, resources include budgeting, human beings, and materials you will have in your availability.

Correct: The deliverables are products or services that you will create for the customer, client, or sponsor of your project.

PROJECT INITIATION: STARTING A SUCCESSFUL PROJECT WEEKLY CHALLENGE 1

1. What are two potential consequences of a project manager failing to properly initiate a project?

  • Stakeholders might not agree on what success looks like. (CORRECT)
  • Resources can be underestimated. (CORRECT)
  • New dependencies can arise.
  • External risks can affect project success.

2. Fill in the blank: A cost-benefit analysis weighs the potential value of a project against money, resources, and _____ required.

  • policies
  • expectations
  • competitors
  • time (CORRECT)

3. Fill in the blank: _____ are the first thing a project manager needs to consider during the initiation phase.

  • Goals (CORRECT)
  • Resources
  • Planning
  • Success criteria

4. Imagine you’re the project manager of a new grocery delivery service. You meet with the owners to discuss what outcomes they’d like to ultimately achieve with the project. Which project initiation component are you trying to determine?

  • Goals (CORRECT)
  • Budget
  • Scope
  • Resources

5. Imagine that the main supplier for a construction project runs out of steel girders and needs to obtain more to complete the order. Which key component of project initiation does this scenario concern?

  • Scope
  • Resources (CORRECT)
  • Deliverables
  • Goals

6. A project charter adds value to projects in what three ways?

  • Includes a plan to mitigate potential risks
  • Allows project managers to get organized (CORRECT)
  • Sets up a framework for what project work the team needs to do (CORRECT)
  • Helps project managers communicate project details to others (CORRECT)

7. When calculating a cost-benefit analysis for a project, what do you call gains that are not quantifiable?

  • Yearly profits
  • Ongoing costs
  • Quarterly income
  • Intangible benefits (CORRECT)

8. You expect that a project will bring in $25,000 USD in revenue per year. You estimate it will cost $12,000 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?

  • (25,000 – 14,400) ÷ 12,000 = 88%
  • (25,000 – 12,000) ÷ 14,400 = 90%
  • (25,000 – 12,000) ÷ 12,000 = 108%
  • (25,000 – 14,400) ÷ 14,400 = 74% (CORRECT)

9. Why is it important to initiate a project? Select all that apply.

  • Determine if the project’s benefits outweigh the costs (CORRECT)
  • Solidify the scope of a project (CORRECT)
  • Help the project manager establish a good reputation
  • Provide a strong foundation and set the stage for success (CORRECT)

10. What two questions can a project manager ask to determine a project’s costs?

  • What are the ongoing project costs? (CORRECT)
  • How much time will people have to spend on the project? (CORRECT)
  • What value will the project create?
  • How will the user experience be improved?

11. Imagine you’re the project manager of a new grocery delivery service. You meet with stakeholders to decide how to measure project success. Which project initiation component are you trying to determine?

  • Goals
  • Resources
  • Success criteria (CORRECT)
  • Scope

12. 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?

  • Deliverables
  • Resources (CORRECT)
  • Success criteria
  • Scope

13. What is the purpose of a project charter?

  • Determines project roles and assign associated tasks
  • Establishes communication channels and record preferred methods
  • Defines the project and its goals and outline what is needed to accomplish them (CORRECT)
  • Outlines how to mitigate potential risks

14. Fill in the blank: _____ are gains that are not quantifiable.

  • Ongoing costs
  • Quarterly income
  • Intangible benefits (CORRECT)
  • Yearly profits

15. You expect that a project will bring in $12,000 USD in revenue per year. You estimate it will cost $5,000 up front. You also estimate costs of $50 per month for the first 12 months, which equals $600 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?

  • (5,600 – 5,000) ÷ 12,000 = 5%
  • (12,000 – 5,600) ÷ 5,000 = 128%
  • (12,000 – 5,600) ÷ 5,600 = 114% (CORRECT)
  • (12,000 – 5,000) ÷ 5,000 = 140%

16. Why is it important to perform a cost-benefit analysis during the initiation phase? Select all that apply.

  • To compare the project benefits to the costs (CORRECT)
  • To add up the expected value, or benefits, of a project (CORRECT)
  • To outline project goals and how to accomplish them
  • To set up a framework for what project work the team needs to do

17. Fill in the blank: A _____ is a document that defines project goals and outlines what is needed to accomplish them.

  • project charter (CORRECT)
  • risk analysis
  • cost-benefit analysis
  • project schedule

18. Which of the following could be considered intangible benefits? Select all that apply.

  • Employee satisfaction (CORRECT)
  • Income earned
  • Customer satisfaction (CORRECT)
  • Brand perception (CORRECT)

19. Fill in the blank: Project initiation includes determining resources, documenting key components, and _____.

  • solidifying scope (CORRECT)
  • onboarding the team
  • finalizing budgets
  • establishing a schedule

20. What are the key components of project initiation?

  • Goals, scope, planning, documentation, success criteria, and resources
  • Goals, scope, deliverables, success criteria, stakeholders, and resources (CORRECT)
  • Findings, scope, deliverables, monitoring progress, stakeholders, and resources
  • Findings, scope, planning, deliverables, success criteria, and resources

21. Imagine you’re the project manager of a new grocery delivery service. You meet with stakeholders to set an overarching framework of what is and is not included in the project statement of work and deliverables. Which project initiation component are you trying to determine?

  • Success criteria
  • Project charter
  • Resources
  • Scope (CORRECT)

22. What term refers to the budget, people, materials, and other items necessary to complete a project?

  • Resources (CORRECT)
  • Scope
  • Success criteria
  • Deliverables

23. As a project manager, you analyze the amount of time team members will need to spend on a project and the likely ongoing project expenses. What step of the cost benefit analysis are you completing?

  • Goals analysis
  • Cost analysis (CORRECT)
  • Benefit analysis
  • Expense analysis

24. 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?

  • Resources
  • Deliverables (CORRECT)
  • Success criteria
  • Scope

25. As a project manager, what question will you ask to determine the customer satisfaction of a project?

  • Will this project reduce turnover and cause them to increase spending on the platform?
  • Will the project increase retention and cause them to spend more time on the product? (CORRECT)
  • Is this project likely to improve employee morale based on the sales of the product?
  • Is this project likely to improve the company’s image and help the company succeed?

26. You expect that a project will bring in $20,000 USD in revenue per year. You estimate it will cost $8,000 up front. You also estimate costs of $150 per month for the first 12 months, which equals $1,800 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?

  • (20,000 – 8,000) ÷ 9,800 = 90%
  • (20,000 – 9,800) ÷ 8,000 = 88%
  • (20,000 – 14,400) ÷ 9,800 = 108%
  • (20,000 – 9,800) ÷ 9,800 = 104% (CORRECT)

27. What are two potential consequences of a project manager failing to properly initiate a project? Select all that apply.

  • Stakeholders might not agree on what success looks like. (CORRECT)
  • External risks can affect project success.
  • Resources can be underestimated. (CORRECT)
  • New dependencies can arise.

28. As a project manager, you investigate the value a project will create and how much time will be saved. What step of the cost benefit analysis are you completing?

  • Benefit analysis (CORRECT)
  • Goals analysis
  • Cost analysis
  • Expense analysis

29. As a project manager, you add a task to complete a new feature in the app your team is building. Which key component of project initiation are you working on?

  • Success criteria
  • Scope
  • Deliverables (CORRECT)
  • Resources

30. As a project manager, you work with key stakeholders to define what needs to be completed and achieved for a project . Which key component of project initiation does this scenario concern?

  • Deliverables
  • Resources
  • Goal (CORRECT)
  • Success criteria

31. As a project manager, you complete the stages in the project initiation phase. Who do you meet with to get project approval?

  • The project stakeholders (CORRECT)
  • The vendors working on the project
  • The developing team
  • The project resources

32. What type of document needs approval from key stakeholders in order to move to the planning stage?

  • A retrospective document
  • A budget plan
  • A project charter (CORRECT)
  • A risk log

33. You expect that a project will bring in $15,000 USD in revenue per year. You estimate it will cost $10,000 up front. You also estimate costs of $100 per month for the first 12 months, which equals $1,200 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?

  • (15,000 – 11,200) ÷ 11,200 = 34% (CORRECT)
  • (11,200 – 10,000) ÷ 15,000 = 8%
  • (15,000 – 11,200) ÷ 15,000 = 25%
  • (15,000 – 10,000) ÷ 11,200 = 45%

34. As a project manager, what is your main responsibility during the initiation phase?

  • Create a project plan to list out all the tasks to complete.
  • Create a budget plan with all the expenses for the project.
  • Figure out all the pieces that have to come together in order to get the work done. (CORRECT)
  • Hold a meeting with the team that will execute the tasks.

35. In the project initiation phase, what defines a product or service you will create for your customer?

  • Scope
  • Goal
  • Stakeholder
  • Deliverable (CORRECT)

36. As a project manager, you define the standards to meet for the project’s success. Which key component of project initiation does this scenario concern?

  • Deliverables
  • Scope
  • Success criteria (CORRECT)
  • Resources

37. As a project manager, what is your main responsibility during the initiation phase?

  • Create a budget plan with all the expenses for the project.
  • Hold a meeting with the team that will execute the tasks.
  • Create a project plan to list out all the tasks to complete. 
  • Figure out all the pieces that have to come together in order to get the work done. (CORRECT)

38. What key component in the project management cycle is a meeting scheduled with staff to train on a new product?

  • Success Criteria
  • Resource 
  • Scope
  • Deliverable (CORRECT)

39. As a project manager, you determine the budget, people, and material that you will need for an upcoming project. Which project initiation component are you trying to determine?

  • Goals
  • Project charter
  • Resources (CORRECT)
  • Success criteria

40. As a project manager, what question will you ask to determine the employee satisfaction of a project?

  • Is this project likely to improve employee morale and reduce turnover? (CORRECT)
  • Will the project increase customer retention and cause them to spend more time on the product?
  • Will this project reduce employee’s overtime hours and save the company money?
  • Is this project likely to improve the company’s image?

41. 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?

  • (22,000 – 12,400) ÷ 22,000 = 25%
  • (12,400 – 10,000) ÷ 22,000 = 8%
  • (22,000 – 12,400) ÷ 12,400 = 77% (CORRECT)
  • (15,000 – 10,000) ÷ 12,400 = 45%

42. You expect that a project will bring in $18,000 USD in revenue per year. You estimate it will cost $10,000 up front. You also estimate costs of $100 per month for the first 12 months, which equals $1,200 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?

  • (18,000 – 11,200) ÷ 11,200 = 61% (CORRECT)
  • (18,000 – 10,000) ÷ 10,000 = 140%
  • (11,200 – 10,000) ÷ 18,000 = 5%
  • (18,000 – 11,200) ÷ 10,000 = 128%

43. In the initiation phase, a project manager performs research, consults with stakeholders, and clearly documents key project components. What does going through this process help them solidify?

  • Project scope (CORRECT)
  • Project closeouts
  • Project tasks
  • Project delivery dates

44. What type of document needs approval from key stakeholders in order to move to the planning stage?

  • A project charter (CORRECT)
  • A retrospective document
  • A budget plan
  • A risk log

45. A project charter adds value to projects in what three ways? Select all that apply.

  • Allows project managers to get organized (CORRECT)
  • Includes a plan to mitigate potential risks
  • Sets up a framework for what project work the team needs to do (CORRECT)
  • Helps project managers communicate project details to others (CORRECT)

46. What type of analysis compares the value of a project’s outcomes with the financial and time expenses of the project?

  • Cost-benefit analysis (CORRECT)
  • Goals analysis
  • Benefit analysis
  • Visual analysis

47. What two questions can a project manager ask to determine a project’s costs? Select all that apply.

  • What value will the project create?
  • How will the user experience be improved?
  • What are the ongoing project costs? (CORRECT)
  • How much time will people have to spend on the project? (CORRECT)

48. Imagine you’re the project manager of a new grocery delivery service. You meet with stakeholders to set an overarching framework of what is and is not included in the project statement of work and deliverables. Which project initiation component are you trying to determine?

  • Success criteria
  • Project charter
  • Scope (CORRECT)
  • Resources

49. 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?

  • Create checkpoints in the project for all milestones.
  • Create an efficient project plan.
  • Meet with stakeholders for sufficient understanding of project goals. (CORRECT)
  • Ensure all the tasks are assigned on the project.

Fundamentals of Project Initiation CONCLUSION

In conclusion, those were common organizational structures and their effects on the project management process, how organizational culture influences the project management process, and the role that a project manager plays in the change management process. These are all critical factors in the employer’s considerations during your job search.

If that has been helpful to you and you would like to find out more, please consider joining us at Coursera.org, where we conduct courses on such topics and many more relating to project management.

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