PM Ch. 2: Assignment

c. By comparing expected project costs to expected benefits, scoring models can be used to make project investment decisions.

All of these are advantages of using a scoring model for selecting projects EXCEPT:

organization's financial goals (core values, beliefs, and customers are)

All of these would typically be included in a mission statement EXCEPT:

weighted score for the project

Contractor companies might perform a quick SWOT analysis prior to bidding on a potential project, including all of the considerations below EXCEPT:

mandatory criteria

Examples of these types of project selection criteria include government regulations and clear safety or security situations.

relative weight

In a project scoring model, each decision criterion is given a __________.

threats

In the Build Green Home example of a SWOT analysis, factors including existing thinking on green building and its niche focus, building schedule, and community (location) rumors are all examples of __________.

operational

Source selection criteria for selecting a contractor might include: production capacity, business size and type, past performance, and references. These are all examples of typical criteria within which category?

It allows management to examine what would happen to a decision if factors were to change

The benefit of performing a sensitivity analysis while using a scoring model to choose projects is:

vision statement

The first part of setting strategic direction for an organization is to analyze the external and internal environments by preparing a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. Once the SWOT is complete, the next step is to create a clear and compelling statement describing the inspirational long-term desired change resulting from an organization's work, called a __________.

Net Present Value (NPV)

The most widely accepted financial model for selecting projects is _________:

d. Use of financial models ensures that selected projects make sense from a cost and return on investment perspective.

Which of these is NOT a disadvantage of using a financial model for project evaluation and selection?

c. Projects with positive and negative net present value (NPV)

Which of these is NOT an example of types of projects that the organization might include in their portfolio of projects?

source selection criteria

Which of these would NOT be one of the things that may be negotiated between a client company and a contractor company?

employees at all levels

Who should be involved in identifying potential projects?