Question 1

Management of a portfolio system requires two major inputs from senior management. What are they?

Accepted Answer

Senior management must provide guidance

Question 2

The management system that spans the lifetime of the project is called the ____.

Accepted Answer

A)  lifetime cycle model 
B)  project lifetime model 
C)  phase gate model 
D)  lifetime phase exit model 
E)  lifetime model 
A)  lifetime cycle model 
B)  project lifetime model 
C)  phase gate model 
D)  lifetime phase exit model 
E)  lifetime model

Question 3

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

Accepted Answer

A)  demonstrate to senior management how their project contributes to the firm's mission. 
B)  explain to team members why certain project objectives and priorities are critical. 
C)  explain to stakeholders why certain project objectives and priorities are critical. 
D)  be able to respond appropriately to delays and / or questions about product design. 
E)  be able to focus on problems or solutions if the project is a low priority strategically. 
A)  demonstrate to senior management how their project contributes to the firm's mission. 
B)  explain to team members why certain project objectives and priorities are critical. 
C)  explain to stakeholders why certain project objectives and priorities are critical. 
D)  be able to respond appropriately to delays and / or questions about product design. 
E)  be able to focus on problems or solutions if the project is a low priority strategically.

Question 4

The purpose of the management system that spans the lifetime of any project is _____.

Accepted Answer

A)  ensure the project stays within budget 
B)  ensure the project remains on schedule 
C)  ensure the project stays within both budget and schedule 
D)  ensure the project is worthwhile and is contributing to the goals and strategy of the organization 
E)  All of these alternatives are correct 
A)  ensure the project stays within budget 
B)  ensure the project remains on schedule 
C)  ensure the project stays within both budget and schedule 
D)  ensure the project is worthwhile and is contributing to the goals and strategy of the organization 
E)  All of these alternatives are correct

Question 5

Project Priority Systems can resolve

Accepted Answer

A)  lack of consensus and understanding among top and middle managers. 
B)  internal political issues. 
C)  over-sharing of resources. 
D)  what to do next. 
E)  All of the these alternatives are correct. 
A)  lack of consensus and understanding among top and middle managers. 
B)  internal political issues. 
C)  over-sharing of resources. 
D)  what to do next. 
E)  All of the these alternatives are correct.

Question 6

The first step in the Strategic Management Process is to set long-range goals and objectives.

Accepted Answer

A) True 
 B)False

Question 7

Why is it important that organizations develop a process to align selected projects with strategic goals?

Accepted Answer

A result of not having a process that al

Question 8

The process of assessing "what we are" and deciding and implementing "what we intend to be and how we are going to get there" is ______________.

Accepted Answer

A)  strategic management 
B)  vision and mission setting 
C)  reflection and inquiry 
D)  goal and objective clarity 
E)  mission assessment 
A)  strategic management 
B)  vision and mission setting 
C)  reflection and inquiry 
D)  goal and objective clarity 
E)  mission assessment

Question 9

Why is profitability alone not an adequate measure of a project's value to an organization?

Accepted Answer

Today management is interested in identi

Question 10

A proposed project that ranks high on most criteria may not be selected because the organization's portfolio already includes too many projects with the same characteristics.

Accepted Answer

A) True 
 B)False

Question 11

When considering criteria used to select projects, capturing a larger market share or reducing the dependency on unreliable suppliers would both be examples of __________ criteria.

Accepted Answer

A)  Financial 
B)  Nonfinancial 
C)  Operational 
D)  Supplier 
E)  Multiple 
A)  Financial 
B)  Nonfinancial 
C)  Operational 
D)  Supplier 
E)  Multiple

Question 12

The assessment of the internal and external environments is known as a(n) ________.

Accepted Answer

A)  SWOT analysis 
B)  PDSA wheel 
C)  Constraint-based reasoning 
D)  Internal / external assessment 
E)  Forecasting 
A)  SWOT analysis 
B)  PDSA wheel 
C)  Constraint-based reasoning 
D)  Internal / external assessment 
E)  Forecasting

Question 13

Typically, a project sponsor is

Accepted Answer

A)  instrumental in approving a project. 
B)  key to support a project to its' completion. 
C)  a lower-level staff member. 
D)  key to support a project to its' completion and a lower-level staff member. 
E)  instrumental in approving a project and key to support a project to its' completion. 
A)  instrumental in approving a project. 
B)  key to support a project to its' completion. 
C)  a lower-level staff member. 
D)  key to support a project to its' completion and a lower-level staff member. 
E)  instrumental in approving a project and key to support a project to its' completion.

Question 14

Three possible outcomes emanate from each gate. They are ____.

Accepted Answer

A)  continue, kill, enhance 
B)  reduce scope, kill, increase scope 
C)  proceed, cancel, or revise and submit 
D)  encourage, discourage, pass 
E)  allocate resources, reduce resources, cancel 
A)  continue, kill, enhance 
B)  reduce scope, kill, increase scope 
C)  proceed, cancel, or revise and submit 
D)  encourage, discourage, pass 
E)  allocate resources, reduce resources, cancel

Question 15

If a preliminary proposal is approved, then ____.

Accepted Answer

A)  the project is funded and execution begins 
B)  a project manager and staff are assigned to develop a more comprehensive implementation plan 
C)  the project is funded and formal detailed planning begins 
D)  the project is funded or shelved awaiting funding 
E)  the project is allocated limited resources 
A)  the project is funded and execution begins 
B)  a project manager and staff are assigned to develop a more comprehensive implementation plan 
C)  the project is funded and formal detailed planning begins 
D)  the project is funded or shelved awaiting funding 
E)  the project is allocated limited resources

Question 16

In some cases, organizations will use a(n) __________ to solicit ideas for projects when the knowledge requirements for the project are not available in the organization.

Accepted Answer

A)  RFQ (Request for Quote) 
B)  RFP (Request for Project) 
C)  RFP (Request for People) 
D)  RFP (Request for Product) 
A)  RFQ (Request for Quote) 
B)  RFP (Request for Project) 
C)  RFP (Request for People) 
D)  RFP (Request for Product)

Question 17

At each gate a(n) _______ is made.

Accepted Answer

A)  assessment 
B)  evaluation 
C)  analysis 
D)  decision 
E)  judgement 
A)  assessment 
B)  evaluation 
C)  analysis 
D)  decision 
E)  judgement

Question 18

The assessment of the external and internal environments is called _______ analysis.

Accepted Answer

A)  SWOT 
B)  Competitive 
C)  Industry 
D)  Market 
E)  Strategic 
A)  SWOT 
B)  Competitive 
C)  Industry 
D)  Market 
E)  Strategic

Question 19

A list of potential projects, several criteria, weights for those criteria, and criteria scores for those projects are all typically included on a(n) ___________ matrix.

Accepted Answer

A)  Multiple criteria 
B)  Project screening 
C)  Project selection 
D)  Project elimination 
E)  Project assessment 
A)  Multiple criteria 
B)  Project screening 
C)  Project selection 
D)  Project elimination 
E)  Project assessment

Question 20

Strategy is implemented through projects.

Accepted Answer

A) True 
 B)False

Management of a portfolio system requires two major inputs from senior management. What are they?

The management system that spans the lifetime of the project is called the ____.

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

The purpose of the management system that spans the lifetime of any project is _____.

Project Priority Systems can resolve

The first step in the Strategic Management Process is to set long-range goals and objectives.

Why is it important that organizations develop a process to align selected projects with strategic goals?

The process of assessing "what we are" and deciding and implementing "what we intend to be and how we are going to get there" is ______________.

Why is profitability alone not an adequate measure of a project's value to an organization?

A proposed project that ranks high on most criteria may not be selected because the organization's portfolio already includes too many projects with the same characteristics.

When considering criteria used to select projects, capturing a larger market share or reducing the dependency on unreliable suppliers would both be examples of __________ criteria.

The assessment of the internal and external environments is known as a(n) ________.

Typically, a project sponsor is

Three possible outcomes emanate from each gate. They are ____.

If a preliminary proposal is approved, then ____.

In some cases, organizations will use a(n) __________ to solicit ideas for projects when the knowledge requirements for the project are not available in the organization.

At each gate a(n) _______ is made.

The assessment of the external and internal environments is called _______ analysis.

A list of potential projects, several criteria, weights for those criteria, and criteria scores for those projects are all typically included on a(n) ___________ matrix.

Strategy is implemented through projects.

Modern Project Management

Organization: Structure and Culture

Defining the Project

Estimating Project Times and Costs

Developing a Project Schedule

Managing Risk

Scheduling Resources and Costs

Reducing Project Duration

Being an Effective Project Manager

Managing Project Teams

Outsourcing: Managing Interorganizational Relations

Progress and Performance Measurement and Evaluation

Project Closure

Agile Project Management

International Projects

Filters

Exam 2: Organization Strategy and Project Selection

Management of a portfolio system requires two major inputs from senior management. What are they?

The management system that spans the lifetime of the project is called the ____.

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

The purpose of the management system that spans the lifetime of any project is _____.

Project Priority Systems can resolve

The first step in the Strategic Management Process is to set long-range goals and objectives.

Why is it important that organizations develop a process to align selected projects with strategic goals?

The process of assessing "what we are" and deciding and implementing "what we intend to be and how we are going to get there" is ______________.

Why is profitability alone not an adequate measure of a project's value to an organization?

A proposed project that ranks high on most criteria may not be selected because the organization's portfolio already includes too many projects with the same characteristics.

When considering criteria used to select projects, capturing a larger market share or reducing the dependency on unreliable suppliers would both be examples of __________ criteria.

The assessment of the internal and external environments is known as a(n) ________.

Typically, a project sponsor is

Three possible outcomes emanate from each gate. They are ____.

If a preliminary proposal is approved, then ____.

In some cases, organizations will use a(n) __________ to solicit ideas for projects when the knowledge requirements for the project are not available in the organization.

At each gate a(n) _______ is made.

The assessment of the external and internal environments is called _______ analysis.

A list of potential projects, several criteria, weights for those criteria, and criteria scores for those projects are all typically included on a(n) ___________ matrix.

Strategy is implemented through projects.

Modern Project Management

Organization: Structure and Culture

Defining the Project

Estimating Project Times and Costs

Developing a Project Schedule

Managing Risk

Scheduling Resources and Costs

Reducing Project Duration

Being an Effective Project Manager

Managing Project Teams

Outsourcing: Managing Interorganizational Relations

Progress and Performance Measurement and Evaluation

Project Closure

Agile Project Management

International Projects

Filters