review results TPV1 - Exercise:1. Q: .Choosetwo DefineScope...

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Exercise: 1. Initiating the Project Q:  Which of the following processes comprise an Initiating Process Group?  Each correct answer represents a complete solution. Choose two. Develop Project Charter Define Scope Develop Project Management Plan Identify Stakeholders Explanation:  Answer options A and D are correct.  The Initiating Process Group consists of the Develop Project Charter and  Identify Stakeholders processes. These processes define a new project or  new phase of an existing project by obtaining authorization to start the project  or phase.  Q: Which of the following is not a project selection method?   Scoring model Cost-benefit analysis Expert judgment Page 1 of 39
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Top-down estimating Explanation: Answer option D is correct.  Cost-benefit analysis, expert judgment, and scoring are all project selection  techniques. Top-down estimation is a type of cost estimation. For more  information, please see Chapter 1. Q:  Select the three types of project selection methods that are considered  economic model methods. NPV Cost-benefit analysis Discounted cash flow Payback period IRR Scoring model Explanation:  Answer options C, A, and E are correct.  An economic model includes discounted cash flow, NPV, and IRR. Benefit  measurement methods include cost-benefit analysis, a scoring model, and a  payback period. Q:  In what organizational structure is a project manager often referred to as  project coordinator or expeditor? Page 2 of 39
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Strong matrix Weak matrix Balanced matrix Project-based Explanation:  Answer option B is correct.  Weak matrix structures are similar to functional structures; project managers  are often called project coordinators or expeditors.  Answer option A is incorrect because project managers exist within the strong  matrix structure.  Answer option C is incorrect because project managers function as such in  the balanced structure.  Answer option D is incorrect because project managers are not called  expeditors or coordinators in the project-based structure. Lesson:  Initiating the Project Objective:  Understanding Organizational Structures Q:  Which of the following is the  least  precise cash-flow technique? Net present value Internal rate of return (IRR Discounted cash flows Page 3 of 39
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Payback period estimate Explanation:  Answer option D is correct.  The payback period is a cash-flow technique for identifying the length of time  it takes for the organization to recover all the costs of producing the project. It  compares the initial investment to the expected cash inflows over the life of  the project and determines how many time periods elapse before the project  pays for itself. Payback period is the least precise of all cash-flow techniques.
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