No need explanation just answer needed. no copy-paste.

1. The Initiating process _____________ that a project, or the next phase of an active project should ____________.

2. Which of the following sections of the project concept document describes the need or demand that is generating the project?

A. Project description

B. Business areas impacted

C. Planning estimates

D. Business justification

3. T/F. The primary purpose of a project concept document is to capture enough information to determine if a project is worth pursuing.

4. Your project involves researching and creating a new test for detecting certain diseases. What type of need or demand is driving this project?

A. Business need

B. Social need

C. Customer request

D. Ecological impact

1. This financial method determines the rate of return you can expect to earn on the project by calculating the rate needed for the present value of the expected cash inflows to equal the original investment?

A. Payback period

B. Discounted cash flows

C. IRR

D. ROI

2. T/F. The discounted cash flow technique determines the amount of time it takes for the project to recover its initial investment.

3. Projects with the _____________ IRR value should be chosen when size and scope are similar.

4. T/F. The ideal way for an organization to choose among competing projects and determine which should go forward is by using both financial methods and scoring models.

5. This method of project selection examines the profitability of the project, the marketability of the product of the project, alternative solutions to the proposed project and more. _____________ _____________.

Lab Exercise - Worth 3 Marks(discuss answer should be under 4 sentence)

1. List the primary needs and demands that drive your organization's business. Describe how projects are initiated in your organization and how the use of a template like the project concept document and selection committees may improve your process.

2. Discuss the difference between a project concept document and a business case. What are the benefits of each and when would you use a business case?

Lab Exercise - Worth 4 Marks

1. Calculate the payback period for a project with an initial investment of $575,000; expected inflows of $25,000 per quarter for the first two years and $75,000 per quarter thereafter.

2. Your selection committee is deciding between two projects that are similar in size and scope. Project A has an IRR of 6 percent. Project B has an IRR of 5 percent. Which project should you recommend to the project committee and why?

3. Describe cost-benefit analysis. (short answer required)

4. Discuss the project selection method (or methods) your organization uses most often. Describe how and when your organization uses feasibility studies to determine the viability of a project. Has this been an effective technique in your opinion? Why or why not?