Project Management Ch 1 and 2

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

Executing

A project screening matrix typically contains all of the following EXCEPT

Costs to complete each project

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

Defining

Which of the following statements is true? Project management is far from a standard way of doing business Project management is increasingly contributing to achieving organizational strategies Project management is being used at a consistent percentage of a firm's efforts Project management is a specialty that few organizations have access to All of these statements are false

Project management is increasingly contributing to achieving organizational strategies

Which of the following is NOT true about organizational politics?

Project managers should not engage in organizational politics

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

Resource allocation

The assessment of the external and internal environments is called _______ analysis.

SWOT

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

Sharing resources Measuring efficiency Managing risk Prioritizing projects All of these are challenges

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

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

Strategic plan

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

True

Intermittent scanning of the external environment is required when managing organization strategy.

True

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

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

True

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

True

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

True

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

True

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

What do we want to become?

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

performance

The _____________ typically passes sequentially through four stages.

project life cycle

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

False

Many organizations have three different kinds of projects in their portfolio: compliance, operational, and sacred cows.

False

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

False

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

False

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

False

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

False

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

False

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

False

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

Flexible

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 ____________.

Governance

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

6 months

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

Increasing product demand

Which of the following is NOT true for strategic management?

It should be done once every few years just before developing the operating plan

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

Lack of funding

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 is NOT true about an organization's strategy?

Only top management must understand strategy

A professional organization for project management specialists is the ___________.

Project Management Institute (PMI)

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

Planning

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

Political necessity

Which of the following activities is NOT considered a project?

Production of automobile tires