Midterm Exam Chapter 2

Which of these statements is FALSE concerning project selection?

A project portfolio is a useful storage medium that enables the project manager to consolidate all project information in a single, convenient location.

All of the following factors should be assessed to determine an organization's ability to perform projects EXCEPT:

Do teams and individuals follow instructions well?

Which of these statements is FALSE concerning strategic analysis?

Strategic analysis is often called SWOT - Start With Objective Teamwork (SWOT).

Which of the following statements correctly describes a weakness associated with the financial project selection model?

Payback period models do not consider the profit to be realized after the costs are paid

All of the following statements concerning project portfolios are true EXCEPT:

Portfolios cannot include operations and programs

Which of these statements is FALSE concerning strategic objectives?

The organization's leadership should establish the flow-down objectives to set the stage for establishing the guiding principles such as the vision and mission.

Which of the following statements best describes the contemporary use of financial models and scoring models for project selection?

These methods are often used together to ensure financial and non-financial factors are both considered.

Portfolios deal with all of an organization's projects, while programs deal with:

a specific group of related projects, subprograms, and program activities

This document summarizes why the project is important by describing the benefits of a selected component, and is used as a basis for authorizing further project management activities:

business case

All of the following factors influence the opportunities and threats an organization must consider when performing a strategic analysis EXCEPT:

employees

All of the following criteria serve as a valid basis for identifying potential projects in most organizations EXCEPT:

internal politics

All of the following represent appropriate sources to identify new potential projects EXCEPT:

lessons learned from previous projects

Portfolio management helps an organization achieve its strategic goals in all of the following ways EXCEPT:

managing ongoing projects

Many writers have stated that for strategic objectives to be effective, they should be:

measurable - to track progress

________ between a client company and a contractor company should aim at a win-win solution, and the outcome must benefit both the parties involved.

negotiations

Which of the following is NOT a typical source selection criterion that an organization would use to evaluate potential contractors?

personalities

A clear and compelling vision will have all the following characteristics EXCEPT:

provides detailed roadmap for managing a project

Once selected projects have been prioritized, it is time to assign resources to each. Resources could include all of the following EXCEPT:

quality metrics

All of the following may be negotiated between a client company and a contractor EXCEPT

selection criteria for scoring models

Which of the following responses most accurately depicts the correct sequence of activities in the strategic planning process?

strategic analysis - guiding principles - strategic objectives - flow-down objectives