MGT 172 CH2

D. Why is this project so strongly linked to the strategic plan?

1. Which of the follow is not one of the commonly heard comments of project managers? A. Where did this project come from? B. Why are we doing this project? C. How can all these projects be first priority? D. Why is this project so strongly linked to the strategic plan? E. Where are we going to get the resources to do this project?

A. Old school thinking

2. Strategy considered to be under purview of senior management is A. Old school thinking B. A new school of management thought C. Necessary in a company structure D. Beneficial to the Project Manager E. Depended on company goals

A. Is open and published for all participants to review

3. A critical factor to ensure the success of integrating the strategic plan with projects lies in a process that A. Is open and published for all participants to review B. Starts with top management's directives C. With projects first and integrates them with the strategic plan D. Both B and C are correct E. A, B, and C are all correct

E. A, B, and C are all correct

4. The intended outcome of strategy/projects integration is A. Clear organization focus B. Best use of scare organization resources C. Improved communication across projects and departments D. Both A and C are correct E. A, B, and C are all correct

D. Both B and C are correct

5. Which of the following is a main reason why project managers need to understand their organization's mission and strategy? A. They can better focus on the immediate customer B. They can make appropriate decisions and adjustments C. So they can be effective project advocates D. Both B and C are correct E. A, B, and C are all correct

E. All the above are likely mistakes

6. Project managers who do not understand the role that their project plays in accomplishing the organization's strategy tend to make all the following mistakes except: A. Focusing on low priority problems B. Overemphasizing technology as an end in and of itself C. Focusing on the immediate customer D. Trying to solve every customer issue E. All the above are likely mistakes

D. Both A and C are correct

7. In today's business environment, project managers find it valuable to have a keen understanding of A. Strategic management B. Technical issues C. Project selection process D. Both A and C are correct E. A, B, and C are all correct

27. In the Snapshot from Practice, Intel's CEO has concentrated Intel's strategy toward? A. Creating chips to support the digital device market B. Eliminating AMD as a competitor C. Strengthening Intel's position in the PC market D. Expanding Intel's international market E. Expand efforts in the mainframe computer market

A. Creating chips to support the digital device market

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

A. Financial and non-financial

9. Which of the following is not true for strategic management? A. It should be done once each year 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. All of these are true statements

A. It should be done once each year just before developing the operating plan

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

A. SWOT analysis

19. 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

A. Sacred cow

24. Which of the following is not one of the classifications for assessing a project portfolio? A. Sacred cow B. Bread-and-butter C. Pearls D. Oysters E. White elephants

A. Sacred cow

17. Which of the following would not be classified as an organizational opportunity? A. Increasing product demand B. Excellent employees C. Emerging markets D. demographics E. All of these are organizational opportunities

B. Excellent employees

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

B. Profitability

29. A major project proposal form will likely include all of the following except: A. Project Classification B. Schedule objective C. Major deliverables of the project D. How success will be measured E. All of these are likely to be included

B. Schedule objective

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

C. Flexible

10. Which of the following is the correct order for the strategic management process? A. Strategies, mission, goals, projects B. Goals, projects, mission, strategies C. Mission, goals, strategies, projects D. Goals, mission, strategies, projects E. Projects, mission, strategies, goals

C. Mission, goals, strategies, projects

16. Which of the following would not be classified as an organizational threat? A. Slowing of the economy B. A maturing life cycle C. Poor product quality D. Government regulations E. All of these are organizational threats

C. Poor product quality

22. Which of the following financial models are typically included in project selection? A. Payback B. Net present value C. Internal rate of return D. Both A and B are correct E. A, B, and C are all correct

D. Both A and B are correct

26. Which of the following is the reason(s) why project managers need to understand their organization's mission and strategy? A. To make appropriate decisions and adjustments B. To be effective project advocates C. To be able to get their job done D. Both A and B are correct E. A, B, and C are all correct

D. Both A and B are correct

30. Which of the following is a common multicriteria selection model? A. Checklist B. Net Present Value C. Weighted criteria model D. Both A and C are correct E. All of these are common multicriteria selection models

D. Both A and C are correct

8. The textbook indicated that ________ is the major dimension of strategic management. A. Responding to changes in the external market B. Allocating scarce resources of the organization C. Beating competition to the market D. Both a and b are correct E. Both a and c are correct

D. Both a and b are correct

14. Strategy formulation includes which of the following activities? A. Determining alternatives B. Creating profitability targets C. Evaluating alternatives D. Both a and c are correct E. A, B, and C are all correct

D. Both a and c are correct

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 the above are typically contained

D. Costs to complete each project

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

D. Multitasking

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

D. Political necessity

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

D. What do we want to become?

28. Which of the following is not true of multi-weighted 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 the above are true

E. All of the above are true

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. All of these are requirements

E. All of these are requirements

51. In some cases organizations will use a __________ to solicit ideas for projects when the knowledge requirements for the project are not available in the organization. ________________________________________

RFP (Request for approval)

40. The assessment of the internal and external environments is known as a ________. ________________________________________

SWOT analyst

50. Using the Project Portfolio Matrix, software upgrades and manufacturing cost reduction projects are examples of ________ projects that involve evolutionary improvements to existing products. ________________________________________

bread and butter

53. The most common approach to selecting project has been to use the __________ model. ________________________________________

checklist

47. In classifying the kinds of projects an organization has in its portfolio, ________ projects are typically those needed to meet regulatory conditions required to operate in a region. ________________________________________

complicances

44. Capacity overload which inevitably leads to confusion and inefficient use of scarce resources is an __________. ________________________________________

implementation gap

34. ________ answers the question of how strategies will be realized, given available resources. ________________________________________

implenmentation

37. The __________ identifies what the organization wants to become and the scope of the firm in terms of its product or service. ________________________________________

mission statement

41. Apple Computers has been successful in developing a turnaround strategy that has developed new markets and increased market share. This began with strict adherence to the ________. ________________________________________

mission statement

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

mission statements

46. The ________ financial model measures the current value of all cash inflows and outflows using management's minimum desired rate of return. ________________________________________

net present value

33. ________ translate the organization's mission statement into specific, concrete, and measurable terms. ________________________________________

objectives

48. In classifying the kinds of projects an organization has in its portfolio, ________ projects are typically those needed to support current operations. ________________________________________

operational

45. The _______ financial model measures the time it will take to recover the project investment. ________________________________________

payback

43. Xerox's ALTO computer and the Ford Mustang are examples of the significance that ________ can play in project management. ________________________________________

politics

36. A weighted scoring model such as _________ typically uses several weighted selection criteria to evaluate project proposals. ________________________________________

project screening matrix

52. A ___________ will typically include a list of potential projects, several criteria, weights for those criteria, and criteria scores for those projects. ________________________________________

project screening matrix

42. The term ________ is often used to denote a project that a powerful, high-ranking official is advocating. ________________________________________

sacred cow

35. Project ________ are typically high-ranking managers who endorse and lend political support for the completion of a specific project. ________________________________________

sponsors

49. In classifying the kinds of projects an organization has in its portfolio, ________ projects are typically those that directly support the organization's long run mission. ________________________________________

strategic

31. Successful ________ requires strong links among mission statements, goals, objectives, and strategies. ________________________________________

strategic managment

38. In a SWOT analysis, good product quality, low debt, and an established dealer network are examples of positive ________. ________________________________________

strengths

39. In a SWOT analysis, strong competition, reduced product demand, and a maturing product life cycle are examples of ________. ________________________________________

threats