Chapter 1_2

A professional organization for project management specialists is the

PMI.

Which of the following is NOT considered to be a characteristic of a project?

For internal use only.

Which of the following activities is the best example of a project?

Writing a policy manual.

Which of the following is NOT one of the stages of a project life cycle?

Identifying.

Defining

is the stage of the project life cycle, project objectives are established, teams are formed, and major responsibilities are assigned.

Executing

is the stage of the project life cycle, a major portion of the physical project work performed.

Which of the following is NOT typical of a project manager?

Overseeing existing operations.

Which of the following is NOT one of the driving forces behind the increasing demand for project management?

Declining need for product customization.

Which dimension of project management centers on creating a temporary social system within a larger organizational environment that combines the talents of a divergent set of professionals working to complete the project?

Sociocultural.

Project management is important to understand when people are a part of a project team because they

All the above. Are expected to use project management tools and concepts such as working as a team to create a budget or schedule and be able to monitor project progress. They also need to be able to understand project priorities and parameters.

Projects should align with the organization’s overall strategy in order to

Reduce waste of scarce resources.

Which of these is NOT part of the "technical dimension" of project management?

Problem solving.

Which of the following is typically the responsibility of a project manager?

Ensure that appropriate trade-offs are made between the time, cost, and performance requirements of the project.

Which of the following is a good example of a program?

Developing a new residential area that includes six custom homes.

Which of the following represents the correct order of stages within the project life cycle?

Defining, Planning, Executing, Closing.

Project management is not limited to the

Private Sector.

The initial stage in the project life cycle is the

Defining Stage.

A major part of the project work, both physical and mental, takes place in the

executing stage of the project life cycle.

In today’s high-tech industries the product life cycle is averaging

6 months to 3 years.

Increased competition has placed a premium on customer satisfaction and the development of

customized products and services.

Because projects have a defined beginning and end, the ________ is frequently used to manage the transitions of a project from start to completion.

project life cycle.

Because of the profitability motive, project management is nearly always limited to the private sector.

FALSE.

Because of its flexibility, project management is equally useful in ongoing, routine work as well as unique, one-time projects.

FALSE.

One of the characteristics that separate project management from other endeavors of the organization is that there are specific time, cost, and performance requirements.

TRUE.

The first stage in the project life cycle is the concept stage.

FALSE.

Strategic plans should be written by one group of managers, projects should be selected by another group, and projects should be implemented by another group.

FALSE.

The sociocultural dimension of project management includes managing relationships, motivating team members and negotiating project terms.

TRUE.

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

Better utilization of the organization’s resources.

Which of the following is NOT true about organizational politics?

Project managers should not engage in organizational politics.

Which of the following terms is often used to denote a project that a powerful, high-ranking official is advocating?

Sacred cow

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

So they can make appropriate decisions and adjustments and be effective project advocates.

All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT

Not enough projects within the portfolio to make a profit.

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.

Implementation gap.

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

1) Mission, 2) strategies, 3) objectives, 4) projects.

Which of the following questions does the organization’s mission statement answer?

What do we want to become?

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

Increasing product demand.

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

Quality management.

Project selection criteria are typically classified as

Financial and non-financial.

One who endorses and lends political support for the completion of a specific project is known as the

Project sponsor.

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

The project’s fit to the organization strategy.

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

It does not require a constant effort.

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

Deciding how they wish to balance the available organizational resources among the different types of projects.

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

strategic management.

A weighted scoring model typically uses several weighted selection criteria to evaluate project proposals. An example of this would be a(n)

project screening matrix.

In a SWOT analysis, strong competition, reduced product demand, and a maturing product life cycle are examples of external

threats.

The financial model that measures the time it will take to recover the project investment is the

payback model.

In classifying the kinds of projects an organization has in its portfolio, projects that are typically needed to support current operations are

compliance (must do) projects.

Project management historically has been preoccupied solely with the planning and execution of projects while strategy was under the purview of senior management.

TRUE.

Project managers should not engage in organizational politics.

FALSE.

Strategy formulation ends with cascading objectives or projects assigned to lower divisions, departments, or individuals.

TRUE.

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

TRUE.

Objectives should be specific, marketable, assignable, realistic, and time related.

FALSE.

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

FALSE.

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

FALSE.

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

TRUE.