Question 1

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

Accepted Answer

Improves communicati...

Question 2

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 3

The lack of understanding and consensus of organization strategy among top and middle-level managers is known as the __________.

Accepted Answer

A)   priority confusion
B)   implementation gap
C)   lack of consensus
D)   lack of comprehension
E)   lack of comprehension and consensus

Question 4

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

Accepted Answer

A)   Low debt
B)   Excellent employees
C)   Increasing product demand
D)   Talented management
E)   Government regulation

Question 5

Which of the following is NOT true about organizational politics?

Accepted Answer

A)   Project managers should not engage in organizational politics.
B)   Politics can have a significant influence on which projects receive funding.
C)   Politics exist in every organization.
D)   Politics can influence project selection.
E)   Politics can play a role in the aspirations behind projects.

Question 6

The __________ financial model measures the current value of all cash inflows using management's minimum desired rate of return.

Accepted Answer

A)   CABB
B)   ARR
C)   IRS
D)   IRB
E)   None of these alternatives are correct

Question 7

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

Accepted Answer

A)   Strategic
B)   Conformance
C)   Compliance (must do) 
D)   Operational
E)   Sacred cow

Question 8

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

Accepted Answer

A)   Vision statements
B)   Mission statements
C)   Lessons learned
D)   Goals
E)   Objectives

Question 9

A financial model that measures the current value of all cash inflows and outflows using management's minimum desired rate of return is known as the _________ model.

Accepted Answer

A)   Internal rate of return (IRR) 
B)   Net present value (NPV) 
C)   Return on investment (ROI) 
D)   Return on assets (RO
A)  
E)   Inflow / outflow

Question 10

What is the implementation gap and how does it impact project management? How can it be prevented?

Accepted Answer

The implementation gap refers to the lac...

Question 11

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

Accepted Answer

A)   Strategies, mission, objectives, projects
B)   Objectives, projects, mission, strategies
C)   Mission, strategies, objectives, projects
D)   Objectives, mission, strategies, projects
E)   Projects, mission, strategies, objectives

Question 12

If a proposed project does not meet one of the designated "must" objectives it should be immediately removed from consideration.

Accepted Answer

A) True 
 B)False

Question 13

The following are responsibilities of the governance team when managing a portfolio system EXCEPT

Accepted Answer

A)   deciding how organizational resources are allocated among the different types of projects.
B)   publishing the priority of every project and ensuring the process is open and free of power politics.
C)   evaluating the progress of the projects in the portfolio.
D)   constant scanning of the external environment to determine if organizational selection criteria need to be changed.
E)   communicating which projects are approved.

Question 14

What the organization wants to become and the scope of the firm in terms of its product or service would be identified in the organization's ____________.

Accepted Answer

A)   values
B)   mission statement
C)   lessons learned
D)   goals
E)   objectives

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Multi-weighted scoring models include only quantitative criteria, not qualitative.

Accepted Answer

A) True 
 B)False

Question 17

When it comes to project prioritization, senior management is responsible for

Accepted Answer

A)   setting the course for the organization.
B)   directing the organization to a strong future position.
C)   determining the priority of each project.
D)   developing a culture where everyone contributes to the goals of the organization.
E)   All of the these choices are correct.

Question 18

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 19

People within an organization working on multiple efforts concurrently is an indicator of

Accepted Answer

A)   completely allocated staff.
B)   shrewd scheduling.
C)   optimized processes.
D)   project prioritization
E)   too many projects taken on at once.

Question 20

When creating a selection model, it is important to

Accepted Answer

A)   make it mathematically complex so it cannot be "gamed".
B)   not use it as the final determination for project selection.
C)   assure the objectivity of the model.
D)   make certain the units used in the model are not inconsistent.
E)   keep it secret from those submitting project proposals.

Exam 2: Organization Strategy and Project Selection

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

Correct AnswerverifiedShow Answer

What the organization wants to become and the scope of the firm in terms of its product or service would be identified in the organization's ____________.

Correct AnswerverifiedShow Answer

When it comes to project prioritization, senior management is responsible for

Correct AnswerverifiedShow Answer

What is the implementation gap and how does it impact project management? How can it be prevented?

Correct AnswerverifiedThe implementation gap refers to the lac...View AnswerShow Answer

When creating a selection model, it is important to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A financial model that measures the current value of all cash inflows and outflows using management's minimum desired rate of return is known as the _________ model.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedImproves communicati...View AnswerShow Answer

If a proposed project does not meet one of the designated "must" objectives it should be immediately removed from consideration.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

People within an organization working on multiple efforts concurrently is an indicator of

Correct AnswerverifiedShow Answer

Which of the following is NOT true about organizational politics?

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Multi-weighted scoring models include only quantitative criteria, not qualitative.

Correct AnswerverifiedShow Answer

The lack of understanding and consensus of organization strategy among top and middle-level managers is known as the __________.

Correct AnswerverifiedShow Answer

The following are responsibilities of the governance team when managing a portfolio system EXCEPT

Correct AnswerverifiedShow Answer

The __________ financial model measures the current value of all cash inflows using management's minimum desired rate of return.

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The implementation gap refers to the lac...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Improves communicati...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
It is an assessment of the internal and ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified