What is the first step in project planning Mcq?

What is the first step in project planning?

Step 1: Identify & Meet with Stakeholders

Make sure you identify all stakeholders and keep their interests in mind when creating your project plan. Meet with the project sponsors and key stakeholders to discuss their needs and project expectations, and establish a scope baseline, budget, and timeline.

Which is the first step in project planning MCQS?

What is the first step in project planning? Select one: a. Establish the objectives and scope.

What are the stages of project planning?

The project management life cycle is usually broken down into four phases: initiation, planning, execution, and closure. These phases make up the path that takes your project from the beginning to the end.

Which is the first activity in software project planning?

Software Project Planning first activity – Software Project Planning – Determination of software scope.

Is the first step in project management answer?

The first phase of the project management life cycle is project initiation. This is where the project’s value and feasibility are measured. … Feasibility Study – This is an evaluation of the project’s goals, timeline and costs to determine if the project should be executed.

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What are the 7 steps of project planning?

Seven Steps to Successful Project Planning

  • Think of your plan as a roadmap for stakeholders. …
  • Break the project into a list of deliverables. …
  • Talk to your team. …
  • Identify risks. …
  • Create a budget. …
  • Add milestones. …
  • Set progress reporting guidelines.

How is Eva calculated Mcq?

How is economic value added (EVA) calculated? It is the difference between the market value of the firm and the book value of equity. … It is the net income of the firm less a dollar cost that equals the weighted average cost of capital multiplied by the book value of liabilities and equities.