Ch. 2 Quiz example #51124

The NPV financial model measures the time it will take to recover the project investment. True False

Which of the following questions does the organization's mission statement answer? A. Who do we want to become? B. What are our long term goals and objectives? C. All of these are answered by the mission statement. D. What are our long term strategies? E. How do we operate in the existing environment?

The _______ financial model measures the current value of all cash inflows using the management's minimum desired rate of return. A. IRS B. None C. FUBAR D. ARR E. IRB

A SWOT analysis provides the project manager with A. Identifiable strategic alternatives B. Identifiable strategic alternative and potential critical issues facing the organization C. Potential critical issues facing the organization D. A direct linkage to goals

Intermittent scanning of the external environment is required when managing organization strategy. True False

All of the following are symptoms of organizations struggling with strategy disconnect unclear priorities EXCEPT A. Frequent conflicts between managers B. Confused employees regarding which projects are more important C. Inadequate resources D. People are working on multiple projects and feel inefficient E. Not enough projects within the portfolio to make a profit

Project managers who understand the role that their project plays in accomplishing the organization's strategy will be inclined to do all of the following EXCEPT A. Explain to team members why cer B. Explain to stakeholders why certain project objectives and priorities are critical C. Demonstrate to senior management how their project contributes to the firm's mission D. Be able to focus on problems or solutions if the project is a low priority strategy E. Be able to respond appropriately to delays and/or questions about product design

When creating a selection model, it is important to A. Make it mathematically complex so it cannot be "gamed" B. Assure the objectivity of the model C. Not use it as the final determination for project selection D. Keep it secret from those submitting project proposals

Which of the following is the correct order for the strategic management process? A. Projects, mission, strategies, objectives B. Objectives, projects, mission, strategies C. Objectives, mission, strategies, projects D. Strategies, mission, objectives, projects E. Mission, strategies, objectives, projects

Strategy foundation ends with cascading objectives or projects assigned to lower divisions, departments, or individuals. True False

The assessment of the external and internal environments is called the SWOT analysis. True False

Strangely is implementation through projects. True False

In order to formulate strategies that align with the mission some of the activities the organization will need to perform are A. Analyze competitors B. Examine the external environment C. All of these D. Know their core competencies E. Assess internal strengths and strategies

Project Priority Systems can resolve A. Internal political issues B. All of the above C. Lack of consensus and understanding among top and middle managers D. Over sharing of resources

Which of the following is NOT true when managing a portfolio system? A. It requires input from management B. It does not require constant effort C. It involves monitoring and adjusting criteria to reflect the strategic focus of the organization D. Within a small organization it can be managed by a small group of key employees E. The qualities of a particular project are assessed within the context of existing projects

Which of the following is NOT one of the traditional components found in mission statements? A. Contribution to society B. Target customers and markets C. Major products and services D. Geographic domain E. Profitability

Many organizations have three different kinds of projects in their portfolio: compliance, operational, and sacred crows. True False

Regardless of the criteria differences among different types of projects, the most important criterion for project selection is A. The projects fit to the organization strategy B. Non financial C. Compliance D. Profit E. How the project with balance risk within the project portfolio

Examples of nonfinancial criteria include all of the following EXCEPT A. Capturing a larger market share. B. Reducing dependency on unreliable suppliers. C. Preventing government intervention and regulation. D. Making it difficult for competitors to enter the market. E. Calculating the time it will take to recover the project investment.

Which of the following is NOT one of the characteristics of the effective objectives? A. Assignable B. Flexible C. Measurable D. Realistic E. Specific

Project managers should not engage in organizational politics True False

The first step in the strategic management process is to set long range goals and objectives. True False

People within an organization working on multiple efforts concurrently is an indicator of A. Optimize processes B. Too many projects taken on at once C. Shrewd scheduling D. Completely allocated staff

The strategic activity that focuses on what needs to be accomplished is A. Review and define the organizational mission B. Implement strategies through projects C. Set objectives to achieve strategy D. Analyze and formulate strategies

Which of the following is NOT a problem associated with the absence of a project portfolio system? A. Organizational politics B. Resource conflicts C. Multitasking D. Lack of funding E. Implementation gap

If a proposed project does not meet one of the designated "must" objectives, it is immediately removed from consideration. True False

One benefit of project portfolio management is that it can justify killing a project that doesn't support organization strategy. True False

Typically, a project sponsor is A. instrumental in approving a project and key to support a project to its completion. B. key to support a project to its completion. C. a lower-level staff member. D. instrumental in approving a project.

Projects are usually classified into all but one of the following categories. Which one is NOT one of the typical classifications? A. Compliance and emergency B. Strategic C. Operational D. All of these are typical classifications. E. Political necessity

A written mission statement provides focus for decision making when shared by organizational managers and employees. True False

Which of the following would be classified as an organizational opportunity? A. Government regulation B. Increasing product demand C. Excellent employees D. Low debt E. Talented management

When it comes to project prioritization, senior management is responsible for A. developing a culture where everyone contributes to the project success. B. all of the above. C. determining the priority of each project. D. setting the course for the organization.

Mission statements typically change frequently, responding to changes in the external environment. True False

Which of the following is NOT true about an organization's strategy? A. Strategy is implemented through projects. B. Project selection should be clearly aligned with strategy. C. Project management plays a key role in supporting strategy. D. Strategy determines how an organization will compete. E. Only top management must understand strategy

Project selection criteria are typically classified as A. Cost and schedule. B. Strategic and tactical. C. Required and optional. D. Short-term and long-term. E. Financial and nonfinancial.

One way to offset the influence of politics on project management within an organization is to have a well-defined project selection model. True False

Which of the following is NOT true about organizational politics? A. Project managers should not engage in organizational politics. B. Politics exist in every organization. C. Politics can play a role in the aspirations behind projects. D. Politics can influence project selection. E. Politics can have a significant influence on which projects receive funding.

One who endorses and lends political support for the completion of a specific project is known as the A. Project lead. B. Sacred cow. C. Project sponsor. D. CEO. E. Project manager.