Question 1

In order to formulate strategies that align with the mission some of the activities the organization will need to perform are

Accepted Answer

A)  Assess internal strengths and weaknesses.
B)  Analyze competitors.
C)  Examine the external environment.
D)  Know their core competencies.
E)  All of these should be considered when formulating strategies.

Question 2

Studies have shown that companies using predominantly financial criteria to prioritize projects yield unbalanced portfolios and projects that aren't strategically aligned.

Accepted Answer

A) True 
 B)False

Question 3

Why do project managers need to understand strategy?

Accepted Answer

Project managers need to under...

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is NOT true for strategic management?

Accepted Answer

A)  It should be done once every few years just before developing the operating plan.
B)  It supports consistency of action at every level of the organization.
C)  It develops an integrated and coordinated long-term plan of action.
D)  It positions the firm to meet the needs of its customers.
E)  It involves responding to changes in the external market and allocating scarce resources to improve a competitive position.

Question 6

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

Accepted Answer

A)  Allocation of resources
B)  Prioritizing of projects
C)  Motivation of project contributors
D)  Adequate planning and control systems
E)  Quality management

Question 7

Strategy is implemented through projects.

Accepted Answer

A) True 
 B)False

Question 8

Strategy is implemented through ________.

Accepted Answer

projects
Explanation: Strategy...

Question 9

What is a SWOT analysis and how does it relate to the Strategic Management Process?

Accepted Answer

It is an assessment of the internal and ...

Question 10

A project selection process that is strongly linked to strategy results in

Accepted Answer

A)  The most profit.
B)  Better utilization of the organization's resources.
C)  More projects.
D)  A larger and more diverse organization.
E)  Stronger core competencies.

Question 11

Generally, people working on several projects at the same time are more efficient than people working full-time on one project.

Accepted Answer

A) True 
 B)False

Question 12

Identify and briefly describe the five characteristics of effective objectives.

Accepted Answer

(1)Specific.
(2)Meas...

Question 13

Which of the following is NOT one of the traditional components found in mission statements?

Accepted Answer

A)  Major products and services
B)  Profitability
C)  Target customers and markets
D)  Geographic domain
E)  Contribution to society

Question 14

Which of the following is NOT true when managing a portfolio system?

Accepted Answer

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

Question 15

Why do project managers need to understand their organization's mission and strategy?

Accepted Answer

A)  To reduce project duration and increase the number of projects implemented
B)  So they can make appropriate decisions and adjustments and be effective project advocates
C)  It is only important for senior management to understand the organization's mission and strategy.
D)  To get their job done and increase opportunities for promotion
E)  So that they can make sure the customer is satisfied

Question 16

Projects are usually classified into all but one of the following categories.Which one is NOT one of the typical classifications?

Accepted Answer

A)  Compliance and emergency
B)  Operational
C)  Strategic
D)  Political necessity
E)  All of these are typical classifications.

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Organizational objectives set targets for all levels of the organization, not just for top management.

Accepted Answer

A) True 
 B)False

Question 19

A project screening matrix typically contains all of the following EXCEPT

Accepted Answer

A)  The list of available projects.
B)  Specific criteria.
C)  Weights assigned to specific criteria.
D)  Costs to complete each project.
E)  All of these are typically contained.

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 2: Organization Strategy and Project Selection

A project selection process that is strongly linked to strategy results in

Correct AnswerverifiedShow Answer

Which of the following is NOT true when managing a portfolio system?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Strategy is implemented through projects.

Correct AnswerverifiedShow Answer

A project screening matrix typically contains all of the following EXCEPT

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Why do project managers need to understand their organization's mission and strategy?

Correct AnswerverifiedShow Answer

Projects are usually classified into all but one of the following categories.Which one is NOT one of the typical classifications?

Correct AnswerverifiedShow Answer

Organizational objectives set targets for all levels of the organization, not just for top management.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Strategy is implemented through ________.

Correct AnswerverifiedprojectsExplanation: Strategy...View AnswerShow Answer

Why do project managers need to understand strategy?

Correct AnswerverifiedProject managers need to under...View AnswerShow Answer

Which of the following is NOT one of the traditional components found in mission statements?

Correct AnswerverifiedShow Answer

What is a SWOT analysis and how does it relate to the Strategic Management Process?

Correct AnswerverifiedIt is an assessment of the internal and ...View AnswerShow Answer

Identify and briefly describe the five characteristics of effective objectives.

Correct Answerverified(1)Specific.(2)Meas...View AnswerShow Answer

Generally, people working on several projects at the same time are more efficient than people working full-time on one project.

Correct AnswerverifiedShow Answer

In order to formulate strategies that align with the mission some of the activities the organization will need to perform are

Correct AnswerverifiedShow Answer

Studies have shown that companies using predominantly financial criteria to prioritize projects yield unbalanced portfolios and projects that aren't strategically aligned.

Correct AnswerverifiedShow Answer

Which of the following is NOT true for strategic management?

Correct AnswerverifiedShow Answer

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projects
Explanation: Strategy...
View Answer

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Project managers need to under...
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It is an assessment of the internal and ...
View Answer

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(1)Specific.
(2)Meas...
View Answer

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