BUSI 313 quiz 1 Liberty University complete answers

BUSI 313 quiz 1 Liberty University complete answers

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Question 1 In the _____________ stage of the project life cycle the project's schedule and budget will be determined.

Question 2 Project management is ideally suited for a business environment requiring all of the following EXCEPT

Question 3 Since a construction company builds many buildings, the buildings built after the first do not fit the definition of a project.

Question 4 Which of the following is typically the responsibility of a project manager?

Question 5 Which of the following activities is NOTconsidered a project?

Question 6 Because of the requirement for in-depth expertise, project management is generally restricted to specialists.

Question 7 Which of the following is NOT true about project management?

Question 8 Not only is project management critical to many careers, the skill set is transferable across most businesses and professions.

Question 9 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.

Question 10 One benefit of project portfolio management is that it can justify killing a project that doesn't support organization strategy.

Question 11 Project selection criteria are typically classified as

Question 12 In order to formulate strategies that align with the mission the organization will need to

Question 13 Projects are usually classified into all but one of the following categories. Which one is NOT one of the typical classifications?

Question 14 Which of the following is NOT one of the requirements for successful implementation of strategies through projects?

Question 15 One way to offset the influence of politics on project management within an organization is to have a well-defined project selection model.

Question 16 Which of the following is NOT true about organizational politics?

Question 17 From the list below, which is NOT a primary characteristic of organizational culture?

Question 18 Member identity refers to the degree to which work activities are organized around groups rather than individuals.

Question 19 How does someone learn more about an organization's culture?

Question 20 The projectized form of project management structure is a good choice when speed of completion is important and the project needs to be implemented without directly disrupting ongoing operations.

Question 21 Which are the three different matrix systems discussed in the text?

Question 22 The structure that manages projects within the existing organizational structure is __________ organization.

Question 23 The matrix form of project management structure is a good choice when resource usage needs to be optimized by having individuals work on multiple projects while still performing functional duties.

Question 24 All of the following are functions culture plays in an organization EXCEPT

Question 25 Which of the following cultural characteristics relates to the degree to which management focuses on outcomes rather than on techniques and processes used to achieve those outcomes?

 

Question 1 Process breakdown structures are used when the size and the scope of the project do not warrant an elaborate WBS or OBS.

Question 2 The ability of a 911 emergency system to identify the caller's phone number and location is considered to be a

Question 3 There are 5 steps involved when defining a project; which of the following is the first?

Question 4 One of the primary jobs of a project manager is to manage the trade-offs associated with the project. Which of the following is NOT one of the basic classifications of project priorities?

Question 5 Integrating a project's work packages within the organization's management structure is known as work breakdown structure.

Question 6 Which of the following is a good example of a Process Breakdown Structure?

Question 7 "To construct a high-quality, custom home within five months at costs not to exceed $150,000" is best classified as

Question 8 If a project criterion should be optimized if at all possible, it is classified as being constrained.

Question 9 The project scope statement indicates that the client is responsible for training the people who will be using the equipment and that the project team will train the client's trainers. This is an example of

Question 10 Project estimates should be broken down into as much detail, and with as much accuracy, as possible.

Question 11 Estimating the total cost of a project by multiplying each major function by a complexity factor is an example of the apportion method of estimating costs.

Question 12 Richard is collecting estimates for a house that he will have the funding to build in 12 months. Which of the following factors does Richard need to consider in regard to the quality of these estimates?

Question 13 The salary of the project manager would be an example of what type of cost found in a project?

Question 14 Ed is looking over the actual results of projects and comparing them to what was estimated. He notices that the projects that took six months or longer to complete were noticeably more off the estimates. Which of the following factors is he recognizing?

Question 15 Phase estimating is used when a project cannot be rigorously defined because of the uncertainty of design or the final product.

Question 16 Estimates that are typically based on estimates of elements found in the work breakdown structure are called bottom-up estimates.

Question 17 Jose is forecasting project time and cost for constructing a new building by multiplying the total square footage by a given dollar amount. Which of the following methods is he using?

Question 18 The backward pass determines project duration.

Question 19 The requirement for a freshly poured foundation to cure before beginning construction is an example of which of the following type of lag?

Question 20 Only activities that occur at the end of a chain of activities can have free slack.

Question 21 System documentation cannot end until three days after testing has started. This is an example of which kind of lag?

Question 22 Activities which can take place at the same time are termed

Question 23 An activity can include only one work package.

Question 24 Which of the following correctly calculates the early finish for an activity?

Question 25 It is possible for a project network to have more than one critical path.

 

Question 1 Corporate downsizing has increased the trend toward

Question 2 Because of its flexibility, project management is equally useful in ongoing, routine work as well as unique, one­time projects.

Question 3 In the _____________ stage of the project life cycle you are more likely to find status reports, changes, and the creation of forecasts.

Question 4 Successful project managers focus primarily on technical dimensions of project management, which include planning, scheduling, and controlling projects.

Question 5 Which of the following is typically the responsibility of a project manager?

Question 6 The sociocultural dimension of project management includes managing relationships, motivating team members and negotiating project terms.

Question 7 Small business development is a major driver of project management.

Question 8 Which of the following statements is true?

Question 9 Studies have shown that companies using predominantly financial criteria to prioritize projects yield unbalanced portfolios and projects that aren't strategically aligned.

Question 10 Which of the following questions does the organization's mission statement answer?

Question 11 All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT

Question 12 The NPV financial model measures the time it will take to recover the project investment.

Question 13 Organizational objectives set targets for all levels of the organization not just for top management.

Question 14 One who endorses and lends political support for the completion of a specific project is known as the

Question 15 Generally, people working on several projects at the same time are more efficient than people working full­time on one project.

Question 16 Which of the following is NOT one of the characteristics of effective objectives?

Question 17 Which of the following cultural characteristics relates to the degree to which work activities are organized around groups rather than individuals?

Question 18 Which of the following cultural characteristics relates to the degree to which management focuses on outcomes rather than on techniques and processes used to achieve those outcomes?

Question 19 The projectized form of project management structure is commonly used when one functional area plays a dominant role in completing the project or has a dominant interest in the success of the project.

Question 20 Member identity refers to the degree to which work activities are organized around groups rather than individuals.

Question 21 A project team that operates with a full­time project manager as a separate unit from the rest of the organization is structured using ________ organization.

Question 22 Generally, the more autonomy and authority the project manager and the project team need to be successful, the more appropriate to implement either a dedicated project team or a strong project management structure.

Question 23 The matrix form of project management is notable for the tension it creates between functional managers and project managers who both bring critical expertise and perspectives to the project.

Question 24 Which of the following combinations represents the extremes of project organization?

Question 25 Bill is working on a project involving the upgrading of a management information system. The project is being managed by the information systems department with the coordination of other departments occurring through normal channels. He is working in a _________ organization.

 

1. Organizational culture is best explained as organizational

A. Personality.

B. Hierarchy.

C. Reporting relationships.

D. Background.

E. Management style.

2. Which of the following is NOT true of project management structures?

A. They provide a framework for launching and implementing projects

B. They appropriately balance the needs of both the parent organization and the project

C. In selecting a management structure, the culture of the organization is not a huge consideration

D. The project itself should be considered when determining which structure is best

E. They help determine who has most authority in regard to managing the project

3. All of the following are disadvantages of organizing projects within a matrix arrangement EXCEPT

A. Dysfunctional conflict between functional managers and project managers.

B. Expensive.

C. Infighting.

D. Stressful.

E. Longer project duration.

4. The structure that manages projects within the existing organizational structure is _____________________

organization.

A. Functional

B. Balanced matrix

C. Weak matrix

D. Strong matrix

E. Projectized

5. Bill is working on a project involving the upgrading of a management information system. The project is being managed by the information systems department with the coordination of other departments occurring through normal channels. He is working in a __________organization.

A. Functional

B. Balanced matrix

C. Weak matrix

D. Strong matrix

E. Projectized

6. Which of the following is an advantage of a functional project management organization?

A. Maximum flexibility in the use of staff

B. Good integration across functional units

C. Shorter project duration

D. Strong motivation of project team members

E. Longer project duration

7. Which of the following is a disadvantage of functional project management organization?

A. Lack of motivation of project team members

B. Longer project duration

C. Lack of focus on the project

D. Poor integration

E. All of these are disadvantages of functional project management organization

8. Which of the following is a disadvantage of a projectized organization?

A. It is expensive

B. Longer project duration

C. Poor integration

D. High complexity

E. Lack of focus on the project

9. A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured using ___________ organization.

A. Functional

B. Balanced matrix

C. Weak matrix

D. Strong matrix

E. Projectized

10. Which of the following combinations represents the extremes of project organization?

A. Strong matrix and balanced matrix

B. Functional and projectized

C. Projectized and balanced matrix

D. Projectized and strong matrix

E. Strong matrix and functional

11. MegaComputers Inc., has assigned a project manager for each of the five new-product teams. The managers, as well as the project team members, work on the projects on a full-time basis. The structure being used is ___________________ organization.

A. Functional

B. Balanced matrix

C. Weak matrix

D. Strong matrix

E. Projectized

12. All of the following are organizational considerations when determining the right project management structure EXCEPT

A. How important project management is to the success of the organization

B. What percentage of core work involves projects

C. Resource availability

D. Assess current practices and determine any changes that are needed to more effectively manage

projects

E. Budget constraints

13. Elizabeth is considering how to structure a project team that will not directly disrupt ongoing operations. The project needs to be done quickly and a high level of motivation will be needed in order to do that. For this situation, the ___________________________organization would be the best choice.

A. Functional

B. Balanced matrix

C. Weak matrix

D. Strong matrix

E. Projectized

14. At the project level, which of the following is a factor that should influence the choice of project management structure?

A. The size of the project

B. The novelty of the project

C. Budget and time constraints

D. The strategic importance of the project

E. All of these are factors that should influence the choice of project management structure

15. Which are the three different matrix systems discussed in the text?

A. Functional, Weak, Strong

B. Balanced, Functional, Projectized

C. Weak, Strong, Balanced

D. Neutral, Weak, Strong

E. Functional, Neutral, Projectized

16 .___organization is a hybrid form in which a horizontal project management structure is "overlaid" in the normal functional hierarchy.

A. Functional

B. Matrix

C. Project

D. Balanced

E. Neutral

17. Which of the following is NOT true regarding organizing projects within a matrix arrangement?

A.Its flexibility supports a strong project focus that helps alleviate stress among project team members

B.It is designed to optimally utilize resources by having individuals work on multiple projects as well as

being capable of performing normal functional duties

C.There are usually two chains of command

D.Provides a dual focus between functional/technical expertise and project requirements that is missing

in either the project team or the functional approach

E.It is a hybrid form of organization that combines characteristics of both dedicated project teams and

functional organization

18. In which of the following is the balance of authority strongly in favor of the functional managers?

A.Weak matrix

B.Balanced matrix

C.Strong matrix

D.Matrix

E.Neutral matrix

19. All of the following are functions culture plays in an organization EXCEPT

A.It provides a sense of identity.

B.It helps legitimize the management system.

C.It replaces the need for a project selection process.

D.It helps create social order.

E.It clarifies and reinforces standards of behavior.

20. How does someone learn more about an organization's culture?

A. Read about the organization

B. Interpret stories about the organization

C. Observe how people interact within the organization

D. Study the physical characteristics of the organization

E. All of these are examples of how someone can learn more about an organization's culture

21. Which organization's culture is NOT a culture a project manager has to be able to operate in or interact with?

A. The culture of their parent organization

B. The culture of government and regulatory agencies

C. The culture of vendors and subcontractors

D. The culture of the project's customer or client

E. All of these are cultures a project manager has to be able to operate in or interact with

22. Which structure would be most appropriate for developing a new, highly innovative product that has strict time constraints?

A. Functional organization

B. Balanced matrix

C. Dedicated project team

D. Strong matrix

E. Weak matrix

23. From the list below, which is NOT a primary characteristic of organizational culture?

A. Control

B. Team emphasis

C. Profitability

D. Conflict tolerance

E. Risk tolerance

24. Factors in identifying cultural characteristics include all the following EXCEPT

A. Norms.

B. Customs.

C. Values.

D. Attitude.

E. All of these are factors in identifying cultural characteristics.

25. Who is responsible for determining how tasks will be done in a weak matrix project management structure?

A. The functional manager

B. The project manager

C. Both the functional manager and the project manager are responsible

D. There is no rule established for who takes responsibility

E. This is negotiated

26. Which of the following cultural characteristics relates to the degree to which employees identify with the organization as a whole rather than with their type of job or field of professional expertise?

A. Member identity

B. Team emphasis

C. Managerial focus

D. Unit integration

E. Control

27. Which of the following cultural characteristics relates to the degree to which work activities are organized around groups rather than individuals?

A. Member identity

B. Team emphasis

C. Managerial focus

D. Unit integration

E. Control

28. Which of the following cultural characteristic relates to the degree to which rules, policies, and direct supervision are used to oversee and control employee behavior?

A. Member identity

B. Team Emphasis

C. Managerial focus

D. Unit integration

E. Control

29. Which of the following cultural characteristics relates to the degree to which groups within the organization are encouraged to operate in a coordinated or independent manner?

A. Member identity

B. Team emphasis

C. Managerial focus

D. Unit integration

E. Control

30. Which of the following cultural characteristics relates to the degree to which management focuses on outcomes rather than on techniques and processes used to achieve those outcomes?

A. Risk tolerance

B. Reward criteria

C. Conflict tolerance

D. Means versus end orientation

E. Open-systems focus

Fill in the Blank Questions

31. The personality of an organization is a simple explanation

32. The approach to project management that uses the existing hierarchy of the organization to manage projects is organization.

33. No radical alteration in the design or operation of the parent organization is a major advantage of organization.

34. Two of the major disadvantages of the organizational approach are that projects may lack focus and it can take longer to complete projects.

35. Firms where projects are the dominant form of business and the entire organization is designed to support project teams are usually structured as organization.

36. A high level of motivation and the tendency for projects to get done more quickly are benefits of using the organizational approach to project management.

37. High project costs and difficult post-project transition are two evident weaknesses of organization.

38. In a system, there are usually two chains of command, one along functional lines and the other along project lines.

39. The structure (matrix) is designed to optimally utilize resources by having individuals work on multiple projects as well as being capable of performing normal functional duties.

40. A matrix in which the balance of authority is strongly on the side of the project manager is described as

41. A matrix in which the balance of authority is strongly on the side of the functional manager is described as

42. High levels of stress and dysfunctional conflict are disadvantages of a organization.

43. The matrix form of project organization is likely to enhance project integration, diminish internal power struggles, and ultimately improve control of project activities and costs.

44. The matrix form of project organization is likely to improve technical quality as well as provide a better system for managing conflict across projects because the functional manager assigns personnel to different projects.

45. The matrix form of project organization can achieve better equilibrium between technical and project requirements, but it is a very delicate system to create and manage.

46. project teams should be used for urgent projects in which the nature of the work requires people working steadily from beginning to end.

47. Conflict tolerance, risk tolerance, reward criteria and unit integration are all examples of cultural.

48. Research suggests that there is a strong connection between project management structure, organizational, and project success.

49. Organization refers to a system of shared norms, beliefs, values, and assumptions which bind people together, thereby creating shared meanings.

50. The more autonomy and authority the project manager and project team need to be successful, the more appropriate a dedicated project team or a matrix structure is to manage the project.

51. When most of the project work can be done within a specified department and any coordination with other departments can be done easily through normal management channels, organization is most appropriate.

52. The cultural characteristic that refers to the degree to which rewards such as promotion and salary increases are allocated according to employee performance rather than seniority, favoritism, or other nonperformance factors is known as

53. The cultural characteristic that refers to the degree to which employees are encouraged to air conflicts and criticisms openly is known as

54. The cultural characteristic that refers to the degree to which the organization monitors and responds to changes in the external environment is known as

55. The cultural characteristic that refers to the degree to which employees are encouraged to be aggressive, innovative, and risk seeking is known as

56. While organization culture is important to the overall function of an organization, it has minor influence on its project management.

57. There are often considerable differences in how projects are managed within certain firms, even when similar project management structures are being used.

58. The projectized form of project management structure is commonly used when one functional area plays a dominant role in completing the project or has a dominant interest in the success of the project.

59. The matrix form of project management structure is a good choice when resource usage needs to be optimized by having individuals work on multiple projects while still performing functional duties.

60. A disadvantage of using the functional form of project management structure is that projects generally take longer to complete.

61. The functional project team is usually physically separated from the parent organization and given the primary directive of accomplishing the objectives of the project.

62. In the projectized form of project management structure, there is limited technological expertise when compared to the functional or matrix organization.

63. The projectized form of project management structure is a good choice when speed of completion is important and the project needs to be implemented without directly disrupting ongoing operations.

64. One of the major disadvantages of the projectized form of project management structure is that it tends to be more expensive than other forms of organization.

65. One advantage of a matrix project management structure is that it is fast and easy to implement.

66. A matrix project management structure is a hybrid organizational form in which a horizontal project management structure is "overlaid" on the normal functional hierarchy.

67. When three forms of the matrix project management structure are considered, all share the same advantages and disadvantages and at an equal level.

68. When determining the most appropriate project management structure, considerations need to be made at the organizational level and at the project level.

69. Generally, the more autonomy and authority the project manager and the project team need to be successful, the more appropriate to implement either a dedicated project team or a strong project management structure.

70. As discussed in the text, the three forms of matrix project management are weak, mixed, and strong.

71. Within a matrix project management structure, the extent to which the project manager has direct authority over project participants depends on whether the matrix is weak, balanced, or strong.

72. In a balanced matrix form of project management, the project manager is responsible for defining what needs to be accomplished while the functional managers are concerned with how it will be accomplished.

73. The matrix form of project management is notable for the tension it creates between functional managers and project managers who both bring critical expertise and perspectives to the project.

74. Member identity refers to the degree to which work activities are organized around groups rather than individuals.

75. Control is the cultural characteristic that refers to the degree to which management decisions take into account the effect of outcomes on people within the organization.

76. Organizational culture refers to a system of shared norms, beliefs, values, and assumptions which bind people together.

77. Unit integration is the cultural characteristic that refers to the degree to which units within the organization are encouraged to operate in a coordinated or independent manner.

78. There are strong connections among project management structure, organizational culture, and project success.

79. Certain aspects of the culture of an organization support successful project management while other aspects deter or interfere with effective management.

 

1. Which of the following is NOT true about an organization’s strategy? 
A. Strategy determines how an organization will compete
B. Strategy is implemented through projects
C. Only top management must understand strategy
D. Project selection should be clearly aligned to strategy
E. Project management plays a key role in supporting strategy

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

3. Which of the following is NOT true about organizational politics? 
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

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

A. Sacred cow
B. Pet project

C. Political necessity
D. Special undertaking
E. Strategic ploy

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

6. Project managers who understand the role that their project plays in accomplishing the organization's strategy are able to do all of the following EXCEPT 
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, even if the project is a low priority strategically

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

A. Frequent conflicts between managers

B. Inadequate resources
C. Employees confused about which projects are more important
D. Not enough projects within the portfolio to make a profit
E. People are working on multiple projects and feel inefficient

8. 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.
A. Multitasking
B. Organization politics
C. Implementation gap
D. Resource conflicts
E. Employee turnover

9. Which of the following is NOT true for strategic management? 
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

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

11. Which of the following questions does the organization's mission statement answer? 
A. What are our long-term strategies?
B. What are our long-term goals and objectives?
C. How do we operate in the existing environment?
D. What do we want to become?
E. All of these are answered by the mission statement

12. Which of the following is NOT one of the traditional components found in mission statements? 
A. Major products and services
B. Profitability
C. Target customers and markets
D. Geographic domain
E. Contribution to society

13. Which of the following is NOT one of the characteristics of effective objectives? 
A. Realistic
B. Assignable
C. Flexible
D. Specific
E. Measurable

14. In order to formulate strategies that align with the mission the organization will need to 
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

15. The assessment of the external and internal environments is called _______ analysis. 
A. SWOT
B. Competitive
C. Industry
D. Market
E. Strategic

16. Which of the following would be classified as an organizational threat? 
A. Slowing of the economy
B. Excellent employees
C. Poor product quality
D. Declining facilities
E. High labor costs

17. Which of the following would be classified as an organizational opportunity? 
A. Low debt
B. Excellent employees
C. Increasing product demand
D. Talented management
E. Government regulation

18. Which of the following is NOT one of the requirements for successful implementation of strategies through projects? 
A. Allocation of resources
B. Prioritizing of projects
C. Motivation of project contributors
D. Adequate planning and control systems
E. Quality management

19. Which of the following is NOT a problem associated with the absence of a project portfolio system?

A. Organizational politics
B. Lack of funding
C. Resource conflicts
D. Multitasking
E. Implementation gap

20. Susie's department is implementing many projects. She finds herself starting and stopping work on one task to go and work on another task, and then return to the work on the original task. Susie is experiencing 
A. Poor scheduling
B. Excess work burden
C. Flexible tasking
D. Multitasking
E. Burnout

21. Project selection criteria are typically classified as
A. Financial and nonfinancial
B. Short-term and long-term
C. Strategic and tactical
D. Required and optional
E. Cost and schedule

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

A. FUBAR
B. ARR
C. IRS
D. IRB
E. None of these

23. Projects are usually classified into all but one of the following categories. Which one is NOT one of the typical classifications? 
A. Compliance and emergency
B. Operational
C. Strategic
D. Political necessity
E. All of these are typical classifications

24. One who endorses and lends political support for the completion of a specific project is known as the 
A. Project manager
B. CEO
C. Project sponsor
D. Project lead
E. Sacred cow

25. A project screening matrix typically contains all of the following EXCEPT 
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

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

A. How the project will balance risk within the project portfolio

B. The project’s fit to the organization strategy
C. Compliance
D. Nonfinancial
E. Profit

27. Examples of nonfinancial criteria include all of the following EXCEPT

A. Capturing a larger market share

B. Reducing dependency on unreliable suppliers
C. Preventing government intervention and regulation
D. Making it difficult for competitors to enter the market
E. Calculating the time it will take to recover the project investment

28. Which of the following is true of multiweighted scoring models? 
A. Will include quantitative criteria
B. Will include qualitative criteria
C. Each criterion is assigned a weight
D. Projects with higher scores are considered more desirable
E. All of these are true 29. Which of the following is NOT true when managing a portfolio system?
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
30. The following are responsibilities of the governance team when managing a portfolio system EXCEPT
A. Deciding how they wish to balance the available organizational resources 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 approved31. 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 ______________. 
32. ________ change infrequently and may require revision only when the nature of the business changes or shifts. 
33. ________ translate the organization's strategy into specific, concrete, and measurable terms. 
34. How strategies will be realized, given available resources is answered through __________. 
35. High-ranking managers who endorse and lend political support for the completion of a specific project are known as project _________. 
36. A weighted scoring model typically uses several weighted selection criteria to evaluate project proposals.  An example of this would be a(n) ____________.
37. 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 ____________. 
38. In a SWOT analysis, good product quality, low debt, and an established supplier network are examples of internal ________. 
39. In a SWOT analysis, strong competition, reduced product demand, and a maturing product life cycle are examples of external __________. 
40. The assessment of the internal and external environments is known as a(n) ________. 
41. Strategy is implemented through ________. 
42. A project that a powerful, high-ranking official is advocating is often termed a(n) ___________. 
43. Starting and stopping work on one task to go and work on another project, and then returning to work on the original task is known as ___________.

44. The lack of understanding and consensus of organization strategy among top and middle-level managers is known as the __________. 
45. The financial model that measures the time it will take to recover the project investment is the __________ model. 
46. The 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.
47. In classifying the kinds of projects an organization has in its portfolio, projects that are typically those needed to meet regulatory conditions required to operate in a region are ___________ projects. 
48. In classifying the kinds of projects an organization has in its portfolio, projects that are typically needed to support current operations are _________projects. 
49. In classifying the kinds of projects an organization has in its portfolio, projects that directly support the organization's long-term mission are ________ projects. 
50. 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. 
51. 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. 
52. 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. 
53. __________ the portfolio system involves monitoring and adjusting selection criteria to reflect the strategic focus of the organization.
54. Project management historically has been preoccupied solely with the planning and execution of projects while strategy was under the purview of senior management. 
55. Intermittent scanning of the external environment is required when managing organization strategy.

56. A written mission statement provides focus for decision making when shared by organizational managers and employees. 
57. Project managers should not engage in organizational politics. 
58. Organizational objectives set targets for all levels of the organization not just for top management. 
59. Mission statements typically change frequently, responding to changes in the external environment. 
60. Strategy formulation ends with cascading objectives or projects assigned to lower divisions, departments, or individuals. 
61. If a proposed project does not meet one of the designated "must" objectives it is immediately removed from consideration. 
62. The assessment of the external and internal environments is called the SWOT analysis.
63. Objectives should be specific, marketable, assignable, realistic, and time related.

64. Strategy is implemented through projects.

65. Many organizations have three different kinds of projects in their portfolio, compliance, operational, and sacred cows.  
66. The first step in the Strategic Management Process is to set long-range goals and objectives. 
67. One benefit of project portfolio management is that it can justify killing a project that doesn’t support organization strategy.

68. 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. 
69. The information gap refers to the lack of understanding and consensus of organization strategy among top and middle-level managers. 
70. One way to offset the influence of politics on project management within an organization is to have a well-defined project selection model. 
71. Studies have shown that companies using predominantly financial criteria to prioritize projects yield unbalanced portfolios and projects that aren’t strategically aligned.

72. Generally, people working on several projects at the same time are more efficient than people working full-time on one project. 
73. The NPV financial model measures the time it will take to recover the project investment. 
74. 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. 
75. Multiweighted scoring models include only quantitative criteria, not qualitative. 



1. A professional organization for project management specialists is the

A. PMI.

B. AMA.

C. MIS.

D. IPM.

E. PMBOK.

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

A. An established objective

B. A clear beginning and end

C. Specific time, cost and performance requirements

D. For internal use only

E. Something never been done before

3. Which of the following activities is NOT considered a project?

A. Developing a new software program

B. Designing a space station

C. Preparing the site for the Olympic Games

D. Production of automobile tires

E. Developing a new advertising program

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

A. Processing insurance claims

B. Producing automobiles

C. Writing a policy manual

D. Monitoring product quality

E. Overseeing customer requests

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

A. Identifying

B. Defining

C. Planning

D. Executing

E. Closing

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

A. Identifying

B. Defining

C. Planning

D. Executing

E. Closing

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

A. Identifying

B. Defining

C. Planning

D. Executing

E. Closing

8. In the stage of the project life cycle you are more likely to find status reports, changes, and the creation of forecasts.

A. Identifying

B. Defining

C. Planning

D. Executing

E. Closing

9. In the stage of the project life cycle the project's schedule and budget will be determined.

A. Identifying

B. Defining

C. Planning

D. Executing

E. Closing

10. In the stage of the project life cycle project the product is delivered to the customer and resources are reassigned.

A. Identifying

B. Defining

C. Planning

D. Executing

E. Closing

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

A. Managing a temporary activity

B. Overseeing existing operations

C. Managing a nonrepetitive activity

D. Responsible for time, cost and performance trade-offs

E. Work with a group of outsiders, including vendors and suppliers

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

A. Compression of the product life cycle

B. Knowledge explosion

C. Increasing need for multiproject management

D. Declining need for product customization

E. More sustainable business practices

13. Project management is ideally suited for a business environment requiring all of the following EXCEPT

A. Accountability.

B. Flexibility.

C. Innovation.

D. Speed.

E. Repeatability.

14. 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?

A. Communication

B. Sociocultural

C. Social

D. Technical

E. Scheduling

15. Which of the following statements is true?

A. Project management is far from a standard way of doing business

B. Project management is increasingly contributing to achieving organizational strategies

C. Project management is being used at a consistent percentage of a firm's efforts

D. Project management is a specialty that few organizations have access to

E. All of these statements are false

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

A. Work with others to create a schedule and budget.

B. Need to understand project priorities so they can make independent decisions.

C. Need to be able to monitor and report project progress.

D. Need to understand the project charter or scope statement that defines the objectives and

parameters of the project.

E. All of these are reasons it is important for project team members to understand project management.

17. Project governance does NOT include

A. Setting standards for project selection.

B. Overseeing project management activities.

C. Centralization of project processes and practices.

D. Options for continuous improvement.

E. Allowing project managers to plan the project the way they see fit.

18. Projects should align with the organization's overall strategy in order to

A. Complete the project safely.

B. Reduce waste of scarce resources.

C. Ensure customer satisfaction.

D. Secure funding.

E. None of these are reasons why projects should align with the organization's overall strategy.

19. Two dimensions within the project management process are

A. Technical and sociocultural.

B. Cost and time.

C. Planned and unexpected.

D. Established and new.

E. Unique and reoccurring.

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

A. WBS

B. Budgets

C. Problem solving

D. Schedules

E. Status reports

21. Which of these is NOT part of the "sociocultural dimension" of project management?

A. Negotiation

B. Resource allocation

C. Managing customer expectations

D. Leadership

E. Dealing with politics

22. Corporate downsizing has increased the trend toward

A. Reducing the number of projects a company initiates.

B. Outsourcing significant segments of project work.

C. Using dedicated project teams.

D. Shorter project lead times.

E. Longer project lead times.

23. Which of the following is NOT a reason why project management has become a standard way of doing business?

A. Increased need for skilled management of stakeholders outside of organization

B. Projects need to be done faster

C. Organizations are doing more project work in-house instead of outsourcing

D. Organizations are executing more and more projects

E. Increased product complexity and innovation

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

A. Meeting budget requirements

B. Meeting schedule requirements

C. Meeting performance specifications

D. Coordinating the actions of the team members

E. All of these are typical responsibilities

25. A series of coordinated, related, multiple projects that continue over an extended time period and are intended to achieve a goal is known as a

A. Strategy.

B. Program.

C. Campaign.

D. Crusade.

E. Venture.

26. Which of the following is NOT true about project management?

A. It is not limited to the private sector

B. Many opportunities are available for individuals interested in this career path

C. It improves one's ability to plan, implement and manage activities to accomplish specific

organizational objectives

D. It focuses primarily on technical processes

E. It is a set of tools

27. As the number of small projects increase within an organization's portfolio, what is a challenge an organization faces?

A. Sharing resources

B. Measuring efficiency

C. Managing risk

D. Prioritizing projects

E. All of these are challenges

28. Governance of all project management processes and procedures helps provide senior management with all of the following EXCEPT

A. A method to ensure projects that are important to senior management are being implemented

B. An assessment of the risk their portfolio of projects represents

C. An overview of all project management activities

D. A metric to measure the improvement of managing projects relative to others in the industry

E. A big picture of how organizational resources are being used

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

A. Planting a garden

B. Developing a new residential area that includes six custom homes

C. Developing a new marketing plan

D. Taking notes each class meeting to prepare for the final

E. Planning a wedding

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

A. Planning, Defining, Executing, Closing

B. Closing, Planning, Defining, Executing

C. Defining, Planning, Executing, Closing

D. Executing, Defining, Planning, Closing

E. Planning, Defining, Closing, Executing

31. Project management is not limited to the sector.

32. The initial stage in the project life cycle is the stage.

33. The final stage in the project life cycle is the stage.

34. A professional organization for project managers that has grown from 93,000 in 2002 to more than

34. A professional organization for project managers that has grown from 93,000 in 2002 to more than

35. A major part of the project work, both physical and mental, takes place in the stage of the project life cycle.

36. The project's schedule and budget will be determined in the stage of the project life cycle.

37. A temporary endeavor undertaken to create a unique product, service, or result is a(n) .

38. In today's high-tech industries the product life cycle is averaging to 3 years.

39. The advent of many small projects has created the need for an organization that can support management.

40. Increased competition has placed a premium on customer satisfaction and the development of products and services.

41. In some organizations, selection and management of projects often fail to support the overall __________ of the organization

42. WBS, schedules, and budgets are examples of the dimension of the project management process.

43. Leadership, teamwork, and negotiation are examples of the dimension of the project management process.

44. A professional organization for project management specialists is the .

45. One of the defining characteristics of a project is that it has a singular purpose, i.e., an established

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

47. The typically passes sequentially through four stages. Project life cycle

48. The establishment of project goals, specifications, and responsibilities usually occurs in the _______-stage of the project life cycle.

49. Training the customer, reassigning staff, and releasing resources occurs in the stage of the project life cycle.

50. Project managers are expected to ensure that appropriate trade-offs are made between the time, cost, and requirements of the project.

51. An increase in the complexity of projects, because projects typically include the latest advances,

can be the result of a growth in new .

52. A(n) is a series of coordinated, related multiple projects that continue over an extended time intended to achieve a goal.

53. Applying a set of knowledge, skills, tools, and techniques to a collection of projects in order to

move the organization toward its strategic goals is known as project .

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

sector.

55. Most people who excel at managing projects never have the title of project manager.

56. The professional certification for project managers is a Project Management Professional (PMP).

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

58. One of the defining characteristics of project management is that the projects are not confined to a single department but involve several departments and professionals.

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

60. Not only is project management critical to many careers, the skill set is transferable across most businesses and professions.

61. Since a construction company builds many buildings, the buildings built after the first do not fit the definition of a project.

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

63. A major portion of the project work, both physical and mental, takes place during the production stage of the project life cycle.

64. A program is a process designed to accomplish a common goal over time.

65. Because of the requirement for in-depth expertise, project management is generally restricted to specialists.

66. Project governance means applying a set of knowledge, skills, tools, and techniques to a collection of projects in order to move the organization toward its strategic goals.

67. One of the most significant driving forces behind the demand for project management is the ever increasing lengthening of the product life cycle.

68. Project management appears to be ideally suited for a business environment requiring accountability, flexibility, innovation and repeatability.

69. At first glance, project managers perform the same functions as other managers. That is, they plan, schedule, motivate and control.

70. 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.

71. Today, projects are the modus operandi or the method used for implementing organizational strategy.

72. Due to corporate downsizing, significant segments of project work have been outsourced to other organizations.

73. Smaller projects in larger organizations tend not to need project management skills.

74. Successful project managers focus primarily on technical dimensions of project management, which include planning, scheduling, and controlling projects.

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

76. Small business development is a major driver of project management.

 
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