In this exercise, you will read a scenario and identify the six key components of project initiation: Imagine you are a project manager at an educational software company. Which two of the following are adoption metrics? Moment: How to Find It, Examples, UX Tips, How to Announce New Features to Drive Adoption (+Checklist), 11 Must-Track SaaS Customer Success Metrics (+Measuring Them), 12 Must-Track Customer Retention Metrics for Growth (2023), 13 Best Onboarding Flow Examples for New Users (2023), What Is Feature Discovery? lawry's beverly hills dress code; does google maps avoid bus lanes; list the 17 enlisted man of the coup of 1980 with it position; why is everybody always pickin' on me oldie The project includes conducting field research and synthesizing results. Product adoption rate is the number of users who adopt your software compared to the total number of signups or new users within a specific timeframe. In this instance, which SMART criteria are you using? Q11. Think about where each stakeholder falls in the grid: monitor, show consideration, keep satisfied, or manage closely. Compare it to goals the organization set in previous years. UK Lunchtime Results which of the following is an adoption metric? Learn more about driving digital adoption for your organization. Find ways to involve each stakeholder, list all the stakeholders the project impacts, and determine their level of interest and influence. Which three s should you ask yourself to make a goal specific? Which of the following are key components of project initiation? Look at usage frequency per week, month, or even quarter. Q4. Instead, focus on metrics that help you assess if the adoption is fulfilling your expectations or falling short of them. How would you deal with this external scope creep? When building a team for a new research project, you create a power grid to help you figure out which stakeholders to prioritize. For example, if a customer spends $2,000 with your company over their lifetime and it costs you $400 to acquire and service that customer, the CLV of that customer would be $1,600. Require more detailed bids from the evaluators in writing. Key questions to ask yourself include: Note: The number of stakeholders you keep informed about each task can vary depending on your situation. Duration of adoption - How long do people keep using the product or feature after adopting it? You need to align with the clients Vice President (VP) of Design, Ria. Submersible pump. Select all that apply. In this quiz, you will practice applying the Triple Constraint (budget, time, scope) to the following project scenario: Imagine you are a User Experience (UX) Program Manager at a small design agency. For the project, you will have eight team members and four remote stakeholders. Q1. Think of the triple constraint and remember that one of them will always have the priority. Which of the following is true of someone who is accountable in a RACI chart? You might find that customers tend to spend more in the early days of their relationship with you, or their spending might ramp up as they become more comfortable as a customer. Common financial metrics include earnings, profit margin, average order value, and return on assets. What step could the company have taken to avoid scope creep? Engagement compliments other business metrics. Daily active users (DAU) measure the stickiness of your platform, or how much your users depend on your product or platform daily. An example of data being processed may be a unique identifier stored in a cookie. Be sure to address the following criteria in your completed stakeholder analysis table: Be sure to address the following criteria in your completed power grid: Q1. a.Collecting data from a variety of sources such as mobile devices b.Analyzing data from federal, state and local agencies c.Using information to improve individual and community health d.Sharing information among individuals, providers and . Q1. Here is some additional information about the project: To use the template for this course item, click the link below and select Use Template., If you dont have a Google account, download the template directly from the attachment below.Activity Template_ Project Move It OKRsDOCX FileDownload file. Does the key result help define success for your team? Consider the information you added to the Involvement and Impact columns. Data and, Lets walk through the most important metrics to track for improving your, Daily active users (DAU) or monthly active users (MAU). Which of the following are objectives and key results (OKRs) development best practices? Which three of the following best practices can help you choose tools for your project? You will return to it once you have completed the power grid. It gives informed data on how effective organization's maintenance processes is running based on factors like equipment quality, performance, and availability. which of the following is an adoption metric? You can use them to talk through your thought processes as you demonstrate your experience to potential employers. Its easy to get excited about large purchases or long-term customers, but until you compare the amount of revenue theyre bringing in with the costs associated with them as a client, its hard to tell if youre actually growing your business or just treading water (or even losing money). For example, you might measure website traffic in monthly active users. Adoption replaces a business metric. For example, pageviews make a poor choice. Q2. The research team notes that not all projects will require all the metrics and that metrics should be chosen (in combination) based on the outcomes required from the metrics. Imagine youre the project manager of a new grocery delivery service. Which of the following scenarios best represents a project that is going out-of-scope? which of the following is an adoption metric? Q1. Now you are gathering a new team to design and develop the Plant Pals landing page. Completing a stakeholder analysis and power grid allows you to determine each stakeholders influence and potential impact on a project, which is crucial to managing communications and expectations. Retention. As a reminder, if there are changes in time, budget, and scope, remember to notify your project sponsor and key stakeholder and make sure theyre aligned. Depending on their role or resources, you might communicate with them daily, regularly, or rarely. Which of the following is an adoption metric? Which of the following are examples of success criteria? Who can give feedback to responsible individuals to help them complete tasks? Are you ready? The adoption (rate) of cryptocurrencies is an often-stated metric used to assess the prevalence and dissemination of these in economies and jurisdictions globally. Stops along the new bus lines must connect neighboring suburbs to downtown and public resource facilities. Select all that apply. Consider each stakeholders involvement in the project, as well as any tools (software, hardware, etc. The "adoption event" should be the action in your product that best indicates a new customer is getting value from the product. 14-Option 2nd (Relative Pull) explanation- Relative Pull is not an adoption and advocacy metric because it is an Online Advertising Metric. How will the project outcomes affect the needs of each stakeholder? Be sure to complete this activity before moving on. This article is the 3rd one in my series of articles about A/B Testing. Its best to measure product usage frequency during a set period, not necessarily for the entire lifetime of the user. These metrics are valid for the month, year, and product selected and are defined as follows. Copyright 2023 - Networking Funda - All Rights Reserved, Project Initiation: Starting a Successful Project Coursera Quiz Answers, Foundations of Project Management Coursera Quiz Answers 2022. CLV gives a long-term view of the value customers provides your business. During these meetings, you organized your thoughts by writing down project key components that the stakeholders have requested. Study with Quizlet and memorize flashcards containing terms like The ONC's goal of advancing secure and interoperable health information requires _______. Think of the Triple Constraint and remember that one constraint will always have the priority. Make it easy to get around the greater Wonder City area via public transportation. Consult the descriptions below to determine how your team members relate to the tasks: Responsible: Who is responsible for completing this task? Using the formula (G-C) C = ROI, how would you calculate the projects return on investment (ROI) after the first 12 months? What is it called when a project manager involves stakeholders in decision-making to reach a broader consensus? You can't estimate whether adoption is high or low based on your intuition. 1 second ago. If neither, their interest could be low. Brian Balfour of Reforge has waned that Week 1 engagement"has one of the biggest impacts on your retention over time". Engagement is an internal metric. These templates will be useful as you put together a portfolio of project management artifacts. Step 6: Determine each stakeholders level of power or influence. Collaboration tools such as email or chat allow teams to do what tasks? If they are interested in one, but not the other, a medium rating might be appropriate. Customer lifetime value = Total purchases during customer lifetime cost to acquire and service customer. Q3. However, Ria told you that the project end date is a hard deadline. Adoption requires more expensive tools. The project sponsor plays a vital leadership role but does, Meet with stakeholders to make major project decisions, Identify stakeholders and determine their involvement in a project, Determine which stakeholders to exclude from a project, Talk to stakeholders and learn about their interests, Determine which stakeholders should be excluded from the project, Assess each stakeholders reputation and level of experience, Assess each stakeholders level of interest and influence, Responsible, Accountable, Consulted, Informed, Responsible, Accountable, Considered, Informed, Responsible, Appeased, Consulted, Interested, Responsible, Accountable, Considered, Interested, Gives feedback according to their subject matter expertise, Carries out the work to complete the tasks, Learns about tasks when they are complete, Whether the project has a strong business case, Quickly communicate with teammates and stakeholders. You can use it for further practice or in your own personal or professional projects. Which key component outlines the projects success criteria? Write 2-3 sentences. 3. Engagement requires less expensive tools. It matters at every customer touchpoint, and has the power to impact your sales - 52% of U.S. customers have switched providers in the last year because of poor experiences.. Leave the Engagement column blank for now. ExamTopics doesn't offer Real Microsoft Exam Questions. It is the ratio of time a system or component is functional to the total time it is required or expected to function. In your inbox. During the process, you ask yourself if a goal is aligned to the organization or the companys goals. Limit communication outside the team once the project begins. Select all that apply. Using the right metrics can help you keep tabs on where you are now, where you're doing well with customers and how you need to improve. Many of these measures identify where employees are in the change process and how they are progressing. Which project initiation component are you trying to determine? Fill in the blank: _____ are items you need to help get the project done. The following are the product adoption Metrics that differentiate adoption from engagement. As a project manager, you're using the SMART criteria to craft goals for your team. opolo winery lunch menu The adoption phase is the first time your customers start seeing the value of your product and getting returns in the form of improved ROI. The position of each stakeholder corresponds to their level of interest and influence in your stakeholder analysis. How will each stakeholder participate in the project? Adoption Metrics Metric Description EnabledUsers Number of users enabled to use the product in the month. Your notes on the key components are: The next step in the project is to organize the key components into a project charter. Q9. Which of the following responsibilities typically belong to the project manager? Lets walk through the most important metrics to track for improving your product adoption in 2022. CFA and Chartered Financial Analyst are registered trademarks owned by CFA Institute. When youre measuring the right KPIs for product and user adoption, you can refine and develop your offering until it aligns with your audience. Engagement is an internal metric. Because the project manager doesnt have all the projects details, they ask a current team member to onboard the new team member. Q10. Which key component of project initiation does this scenario concern? What level of engagement should the team have with the stakeholder? As a reminder, RACI charts help you determine who is: As the project manager for Plant Pals, you must assemble a team that can develop and execute the marketing and sales strategy to prepare for the launch. Q1. Q2. 15,000 new downloads within first quarter post launch, 75,000 new downloads within first year post launch, 25% of monthly downloads from new customers, The objective defines what needs to be achieved and describes a desired outcome, The key results are ambitious, specific, measurable, and define success for the objective, Post the goal on a project management forum for feedback. Each key result should address the following questions: Your key results should build on the scenario and additional project information, but its up to you to determine your success criteria. To pass this practice quiz, you must receive 100%, or 1 out of 1 point, by completing the activity below. On the other hand, a short time-to-first action can help you identify the features that are most beneficial to your users. Repeat steps 2 and 3 for a second, third and fourth objective to fill up the template. Step 5: Determine the impact on your stakeholders. Which type of tool would be best to use to meet the project sponsors request? You have been hired as the project manager for this initiative. . Assign some of the designers tasks to someone else so they can begin working on the logo changes. What are the main uses of scheduling and work management software? Promote public transportation as a convenient alternative to driving. An increase in customer satisfaction score. Select all that apply. What two s can a project manager ask to determine a projects costs? Q5. Adoption is an external metric. Usage frequency looks at how often a specific account is used. Outputs are the things that we producefor product teams this usually means features, initiatives, or programs. Adoption is an external metric. Add Comment Hire a different organization to review the project. The project manager needs to plan, track, and complete work across many project phases. Create a new product feature that will satisfy customers. A high usage frequency will show you who your best customers are and who might need some additional attention or support to reach the full value of your product. Who does the project manager need to get approval from before indicating a Go for the project? 1 / 1 point Adoption requires more expensive tools. Ignore the requests because the project is already underway. However, its common to lose a customer here and there. Which of the following is an example of a measurable goal? By . You will analyze a scenario and determine each stakeholders relationship to project tasks and deliverables. Q2. To pass this practice quiz, you must receive at least 80%, or 4 out of 5 points, by completing the activity and answering corresponding quiz questions. Ready to start measuring product and user adoption KPIs? A product's performance in the marketplace. Each key result should have 2-3 objectives, Goals you believe your team needs to meet and goals the stakeholders believe the team needs to meet, Problems the project managercan easily recognize and problems the project managers cannot recognize, Tasks you believe your team should complete first and tasks the team believes they should complete first. As the project manager, you will set OKRs to help clarify the project goals and define what needs to be done in order to deliver a successful project. The plan includes a marketing campaign to promote the new lines. Identifying the weak points of your onboarding process will help you create a more engaging system that converts more users. They are considered project resources. Adoption is an external metric. Select all that apply. and . contain actual questions and answers from Cisco's Certification Exams. You are asked to manage an 8-week project for $800,000 USD. In the second article, I talked about how product managers can design A/B Tests in a manner that speeds the . Q2. Q9. Customer churn rate refers to the number of customers or users who stop using your product or platform during a specified time period. Activity: Assign project roles and responsibi, Service Management: Operations, Strategy, and Information Technology, Operations Management: Sustainability and Supply Chain Management, Information Technology Project Management: Providing Measurable Organizational Value. List at least one type of project management softwarealso called work management toolsto plan, track, and complete work. This exam page is currently offline, we already know about this and there is no need to contact us regarding this matter. What project management value does this represent? Which key component is the project deliverable? New Version GCP Professional Cloud Architect Certificate & Helpful Information, The 5 Most In-Demand Project Management Certifications of 2019. Even if youre replacing those customers who left, if your churn rate is too high, it will become nearly impossible to grow at a sustainable rate. This initiative has been nicknamed Project Move It. What is the purpose of a project charter? During the scoping of this project, Ria says her budget maxes out at $650,000 USDshe cant afford the $800,000 USD that this project will cost. First, identify the stakeholders from the Office Green scenario (e.g., Director of Product, Landscape Designer/Web Designer, etc.) Ultimately . A work management software, such as Asana, A productivity tool, such as Microsoft Word. For example, if the objective of an educational technology company was to provide products that consistently meet new educational standards, a project objective might be: Successfully launch version 2.0 of our early learning app in time for the national curriculum conference., Next, write at least three key results for your objective next to KR1, KR2, and KR3. (You may add up to five key results for each objective, but only three are required for this activity.). richard coyle purdy coyle; Tags . number of new users x 100 / number of total users. See how Whatfix drives product adoption now! Q2. For example, if you started a new quarter with 500 customers but ended with 400 customers, your churn rate would be 20%. A list of objectives for Project Move It have been provided for you below. Measuring product and user adoption give you deeper insight into how you connect with your customers and audience. She asks you to include details on the market opportunities for new product ideas, technical constraints, and design considerations. Based on this information, determine how often you should communicate with each stakeholder and what form that communication should take (e.g. In the first article, I presented the intuition behind A/B testing and the importance of establishing the magnitude of the effect you hope to observe and corresponding sample size.. Design thinking C. Offering D. Shopping product E. Components, Which of the following is the foundation of a value proposition?, Which type of product is usually purchased on the spur of the moment? . query record type assignment salesforce; what breed was randolph scott's horse stardust; carlmont high school track open to public; greg jackson octopus wife. In your completed RACI chart, how many stakeholders are accountable for the code the landing page task? ExamTopics Materials do not shiva ayyadurai wife michelle; trees dying from chemtrails; jim plunkett daughter; Our Products. Which of the following best describes scope creep? As a project manager, you learn that the stakeholders are changing the nature of the project and the teams deliverables will change as a result. They reach value when they start to see a return on their investment. On the other hand, if your retention rate is low, its likely an indication that customers are unhappy or a competitor is offering a better service. A _____ is a body of clients that is large enough to attract many other clients. Q5. The adoption (rate) of cryptocurrencies is an often-stated metric used to assess the prevalence and dissemination of these in economies and jurisdictions globally. Recruiting for field research will take a week longer than expected. What are the phases of the project life cycle? 1 / 1 point Number of customer sign-ups for a subscription. Project management isn't adequately compensated when compared to similar roles. Analytics will not only let you measure how many users complete your onboarding process but also highlight areas where users might drop off. Take a team vote to decide if the team should add the new feature to the product. Who are the subject matter experts (SMEs) for the task? It's typically derived from your business model (e.g. Because of this, numerous organizations are apprehensive about switching from the proven to adopting agile. Select one and add it next to O1 on the first line of the OKR card. ExamTopics doesn't offer Real Amazon Exam Questions. Q3. Feature adoption rate is similar to product adoption rate but looks at the number of users who actively use a specific feature. houses for rent in longmeadow, ma. The action should show that the user is getting value from your product. For example, a stakeholder with a medium level of interest would straddle the high and low interest quadrants. Correct 9.Question 9 How will you quantify if you're landing a project at its . Project metrics consist of the following: Read this article to find out it and drive adoption and engagement in your SaaS product. What is the purpose of a stakeholder analysis? refers to the number of customers or users who stop using your product or platform during a specified time period. While they are easy to track and simple to measure, they rarely indicate the value anyone is receiving. Adoption vs engagement metrics: wondering what the difference is? In 1-2 sentences, describe how you can use the tool. However, that action varies from platform to platform. jackson browne wife lynne sweeney; how does this poem differ from traditional sonnets interflora; death notices portadown; could jerry west dunk Setting your product adoption benchmark to be a behavior beyond just signing up helps you track clients getting real value from your product. It goes a step further than just acquisition to encompass activated and retained users. Write one sentence. As the lead project manager for the Plant Pals project, youre managing the launch of this new service. How much will the project impact the needs of each stakeholder? You are the project manager at Office Green, a commercial landscaping company that specializes in plants and greenery for offices and other businesses. Engagement is ongoing. User Engagement leads to Retention, so if you want a strategy for Customer Retention, go here. The project charter ensures everyone is aligned before planning and then executing the project. Who might delegate the task to another team member? Which answer best describes a Matrix organizational structure? What can you do to determine if a goal is relevant? Which two of the following are examples of success criteria? Whats a strategy to determine if a goal is attainable? Multiply that number by 100% to get the engagement rate of your post. In 1-2 sentences, describe how you can use each tool. Which of the following is an engagement metric? Q4. For example, if you have a total of 1,000 users, of which 250 are new, then your. Which of the following best describes the difference between in-scope and out-of-scope? Number of impressions. Its short and to the point, increasing the likelihood that users will engage, but without follow-up questions or context, its hard to know exactly why a customer might be a Detractor or Passive. Record this information in the Impact column. In the RACI model, which role completes the work for a task or deliverable? The RACI chart includes all of the project roles from the scenario. Question: Which of the following is an engagement metric? Q6. How will you quantify if you're landing a project at its intended goal? Double the repeat orders from the same quarter last year. You meet with stakeholders to set an overarching framework of what is and is not included in the project statement of work and deliverables. Q1. In your completed RACI chart, who is responsible for coding the landing page? Q1. Fill in the blank: The difference between a goal and a deliverable is that the goal is the desired outcome of the project and the deliverable is a _____ of the project. What key s should you consider when deciding who should be informed about a task? Q6. Following the discussion with Uyanga, they identified the context as similar to that of customers looking for the best movie streaming recommendations that are based on personal history, context, and ideas of users with similar content preferences. PHMSA conducted an economic evaluation and found that most operators are already following the guidelines in CGA C-29 and thus there are limited quantifiable economic benefits. The formula for finding feature adoption rate is similar to product adoption rate. Step 2: Determine how to engage with stakeholders. ,
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