Project Management and Business Viability Quiz

Which of the following is NOT a principle of good project management?

• Clear goal setting

• Effective communication

• Ignoring stakeholder input

• Adaptability

What are the three key aspects to consider in project viability?

• Innovation, cost, and demand

• Desirability, feasibility, and viability

• Revenue, expenses, and marketing

• Risk, reward, and competition

What does 'viability' in business mean?

• The ability to operate without any revenue

• The ability to generate enough revenue to sustain operations

• The ability to receive funding from investors

• The ability to avoid financial risks

Which of the following is NOT a foundation of business viability?

• Strength of the founding team

• Stage of product development

• The number of employees hired

• Scalability of the business model

Which of the following is a key foundation of business viability?

• Scalability of the business model

• Number of social media followers

• Office location

• Number of competitors in the market

Why is setting clear goals important in project management?

• It helps in prioritizing tasks and tracking progress

• It increases project costs

• It ensures project delays

• It reduces the need for communication

What should be the first step in budgeting for a new business?

• Apply for a business loan

• Clearly define your business idea and market

• Hire employees

• Set up an office space

Which of the following is considered a 'startup asset' in budgeting?

• Loan repayments

• Cash reserves

• Employee salaries

• Office rent

Which of the following is an example of a fixed cost?

• Raw materials

• Advertising expenses

• Rent for office space

• Commissions on sales

Which type of cost changes with the level of production or sales?

• Fixed costs

• Variable costs

• Sunk costs

• Opportunity costs