Project Investment Lifecycle Quiz

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Questions and Answers

Which phase of the project lifecycle involves the risk log, issue log, and status report?

  • Execution phase (correct)
  • Closure phase
  • Initiation phase
  • Planning phase

What is the primary focus of making extra efforts to meet milestone dates in project management?

  • To impress stakeholders
  • To reduce project risks
  • To ensure timely project completion (correct)
  • To increase project budget

What is a key component of project success in addition to meeting project goals and specifications?

  • Exceeding client expectations (correct)
  • Avoiding all project risks
  • Having a detailed project charter
  • Completing the project under budget

In project management, what should be evaluated for a well-defined project entity?

<p>Investment, risks, and profile of risks (B)</p> Signup and view all the answers

Which document is associated with the closure phase of the project lifecycle?

<p>Customer feedback surveys (D)</p> Signup and view all the answers

Flashcards

Execution Phase

The stage where a project team focuses on completing tasks and deliverables, often using tools like risk logs, issue logs, and status reports to track progress.

Meeting Milestones

The core purpose of striving to meet project deadlines is to complete the project on schedule.

Exceeding Client Expectations

Going beyond client expectations is crucial for project success, alongside meeting project goals and specifications.

Project Entity Evaluation

A well-defined project entity is analyzed for its investment potential, risks, and the nature of those risks.

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Customer Feedback Surveys

Customer feedback surveys, used to assess project performance and gather insights, are essential for the closing phase of the project lifecycle.

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