MG417 Chapter 2

Identify the assumptions made in the integration of projects with strategic plans. A strategic plan needs to be created and documented A process for prioritizing projects by their contribution to the plan An open and transparent selection process for all participants to review Existence of a strategic plan

A process for prioritizing projects by their contribution to the plan Existence of a strategic plan

What are the critical inputs that senior management must provide to an organization utilizing a project priority management system? Amount of resources to commit to various categories of projects. Development of individual project plans. Guidance in what to include in the selection criteria.

Amount of resources to commit to various categories of projects. Guidance in what to include in the selection criteria.

The intended outcomes of a strategic plan include which of the following? Best use of resources Improved communication Quickest means of meeting a goal Clear organization focus

Best use of resources Improved communication Clear organization focus

Identify the assumptions made in the integration of projects with strategic plans. Existence of a strategic plan A strategic plan needs to be created and documented A process for prioritizing projects by their contribution to the plan An open and transparent selection process for all participants to review

Existence of a strategic plan A process for prioritizing projects by their contribution to the plan

What are the primary drawbacks of using a checklist model in selecting projects? It cannot be used across different divisions in a company. It is difficult to compare multiple projects. It leaves the door open for power plays.

It is difficult to compare multiple projects. It leaves the door open for power plays.

Why is alignment between the strategic plan and projects critical for an organization? To avoid poor utilization of the organization's resources. To ensure a transparent process for project selection. To comply with the dictates from top and middle management.

To avoid poor utilization of the organization's resources.

The ___ approach basically uses a list of questions to review potential projects and to determine their acceptance or rejection.

checklist

The most frequently used method in selecting projects has been the ___.

checklist

When managing a project portfolio system, senior management is responsible for establishing selection criteria and balancing available ___ (people and capital).

resources

The question "what are we now?" is part of which of the following phases of the strategic management process? Strategy implementation Project selection Portfolio of strategic choices Review mission

review mission

Among all the criteria for project selection, the most important one is the project's fit to the organization ____

strategy

The most important criterion for project selection is:

the project's fit to the organization's strategy.

A preliminary decision of balance between compliance, strategic, and operational projects must be made by ___ management.

top, senior, upper

Project proposals should be classified by ___ so the appropriate criteria can be used to evaluate them

type