Exam 2: Organization Strategy and Project Selection

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

________ translate the organization's strategy into specific,concrete,and measurable terms.

Identify and briefly discuss the three classes of projects usually found in an organization's project portfolio.

The typical Strategic Management Process includes four activities.Identify and briefly describe each of those four activities.

Which of the following is the correct order for the strategic management process?

Regardless of the criteria differences among different types of projects,the most important criterion for project selection is

High-ranking managers who endorse and lend political support for the completion of a specific project are known as project _________.

Project selection criteria are typically classified as

Opportunities and threats can be viewed as flip sides of each other;that is,a threat can be viewed as an opportunity,and vice versa.

Which of the following is NOT one of the requirements for successful implementation of strategies through projects?

Strategy is implemented through ________.

Which of the following would be classified as an organizational opportunity?

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

In classifying the kinds of projects an organization has in its portfolio,projects that directly support the organization's long-term mission are ________ projects.

Strategy is implemented through projects.

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

The information gap refers to the lack of understanding and consensus of organization strategy among top and middle-level managers.

The advantages of successful project portfolio management systems are becoming well recognized.Briefly describe three.

Which of the following problems refers to lack of understanding and consensus of organization strategy among top and middle-level managers? This also can result when top management formulates strategy and leaves implementation to functional managers.

________ change infrequently and may require revision only when the nature of the business changes or shifts.