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Middlesex UK MGT 3800 Chapter 02 Organization Strategy and Project selection 1)Which of the following is NOT true about an organization's strategy?     A

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Middlesex UK

MGT 3800

Chapter 02

Organization Strategy and Project selection

1)Which of the following is NOT true about an organization's strategy?

 

 

A.            Strategy determines how an organization will compete

B.            Strategy is implemented through projects

D. Project selection should be clearly aligned with strategy

E. Project management plays a key role in supporting strategy

 

 

2.            A project selection process that is strongly linked to strategy results in

 

 

A.            The most profit.

C.            More projects.

D.            A larger and more diverse organization.

E.            Stronger core competencies.

 

 

3.            Which of the following is NOT true about organizational politics?

 

 

 

B.            Politics can have a significant influence on which projects receive funding

C.            Politics exist in every organization

D.            Politics can influence project selection

E.            Politics can play a role in the aspirations behind projects

 

 

 

 

4.            Which of the following terms is often used to denote a project that a powerful, high-ranking official is advocating?

 

 

B.            Pet project

C.            Political necessity

D.            Special undertaking

E.            Strategic ploy

 

5.            Why do project managers need to understand their organization's mission and strategy?

 

 

A.            To reduce project duration and increase the number of projects implemented

B.            So they can make appropriate decisions and adjustments and be effective project advocates

 

C.            It is only important for senior management to understand the organization's mission and strategy

D.            To get their job done and increase opportunities for promotion

E.            So that they can make sure the customer is satisfied

 

6.            Project managers who understand the role that their project plays in accomplishing the organization's strategy are able to do all of the following EXCEPT

 

 

A.            Demonstrate to senior management how their project contributes to the firm's mission.

B.            Explain to team members why certain project objectives and priorities are critical.

C.            Explain to stakeholders why certain project objectives and priorities are critical.

D.            Be able to respond appropriately to delays and/or questions about product design.

 

7.            All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT

 

 

A.            Frequent conflicts between managers.

B.            Inadequate resources.

C.            Confused employees regarding which projects are more important.

E. People are working on multiple projects and feel inefficient.

 

8.            Which of the following problems refers to lack of understanding and consensus of organization strategy among top and middle-level managers? This also can result when top management formulates strategy and leaves implementation to functional managers.

 

 

A.            Multitasking

B.            Organization politics

D. Resource conflicts

E. Employee turnover

 

9.            Which of the following is NOT true for strategic management?

 

 

 

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.            It involves responding to changes in the external market and allocating scarce resources to improve a competitive position

 

10.          Which of the following is the correct order for the strategic management process?

 

 

A.            Strategies, mission, objectives, projects

B.            Objectives, projects, mission, strategies

D. Objectives, mission, strategies, projects

E. Projects, mission, strategies, objectives

 

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?

E. All of these are answered by the mission statement

 

12.          Which of the following is NOT one of the traditional components found in mission statements?

 

 

A.            Major products and services

C.            Target customers and markets

D.            Geographic domain

E.            Contribution to society

 

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

 

 

A.            Realistic

B.            Assignable

D. Specific

E. Measurable

 

14.          In order to formulate strategies that align with the mission the organization will need to

 

 

A.            Assess internal strengths and weaknesses.

B.            Analyze competitors.

C.            Examine the external environment.

D.            Know their core competencies.

 

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

 

 

 

B.            Competitive

C.            Industry

D.            Market

E.            Strategic

 

16.          Which of the following would be classified as an organizational threat?

 

 

 

B.            Excellent employees

C.            Poor product quality

D.            Declining facilities

E.            High labor costs

 

 

 

 

 

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

 

 

A.            Low debt

B.            Excellent employees

D. Talented management

E. Government regulation

 

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

 

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

 

 

A.            Organizational politics

C.            Resource conflicts

D.            Multitasking

E.            Implementation gap

 

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.

E. Burnout.

 

21.          Project selection criteria are typically classified as

 

 

 

B.            Short-term and long-term.

C.            Strategic and tactical.

D.            Required and optional.

E.            Cost and schedule.

 

22.          The        financial model measures the current value of all cash inflows using management's minimum desired rate of return.

 

 

A.            FUBAR

B.            ARR

C.            IRS

D.            IRB

 

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

E. All of these are typical classifications

 

24.          One who endorses and lends political support for the completion of a specific project is known as the

 

 

A.            Project manager.

B.            CEO.

D. Project lead.

E. Sacred cow.

 

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

E. All of these are typically contained

 

26.          Regardless of the criteria differences among different types of projects, the most important criterion for project selection is

 

 

A.            How the project will balance risk within the project portfolio

C.            Compliance

D.            Nonfinancial

E.            Profit

 

27.          Examples of nonfinancial criteria include all of the following EXCEPT

 

 

A.            Capturing a larger market share.

B.            Reducing dependency on unreliable suppliers.

C.            Preventing government intervention and regulation.

D.            Making it difficult for competitors to enter the market.

 

28.          Which of the following is true of multiweighted 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

 

29.          Which of the following is NOT true when managing a portfolio system?

 

 

A.            The qualities of a particular project are assessed within the context of existing projects

C.            Within a small organization it can be managed by a small group of key employees

D.            It requires input from senior management

E.            It involves monitoring and adjusting criteria to reflect the strategic focus of the organization

 

30.          The following are responsibilities of the governance team when managing a portfolio system EXCEPT

 

 

B.            Publishing the priority of every project and ensuring the process is open and free of power politics.

C.            Evaluating the progress of the projects in the portfolio.

D.            Constant scanning of the external environment to determine if organizational selection criteria need to be changed.

E.            Communicating which projects are approved.

 

31.          The process of assessing "what we are" and deciding and implementing "what we intend to be and how we are going to get there" is              .

 

 

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

 

 

33.                          translate the organization's strategy into specific, concrete, and measurable terms.

 

 

 

34.          How strategies will be realized, given available resources, is answered through  .

 

 

 

35.          High-ranking managers who endorse and lend political support for the completion of a specific project are known as project             .

 

 

36.          A weighted scoring model typically uses several weighted selection criteria to evaluate project proposals. An example of this would be a(n)   .

 

 

37.          What the organization wants to become and the scope of the firm in terms of its product or service would be identified in the organization's   .

 

 

38.          In a SWOT analysis, good product quality, low debt, and an established supplier network are examples of internal .

 

 

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

 

 

40.          The assessment of the internal and external environments is known as a(n)       .

 

 

 

41.          Strategy is implemented through             .

 

 

 

42.          A project that a powerful, high-ranking official is advocating is often termed a(n)              .

 

 

 

43.          Starting and stopping work on one task to go and work on another project, and then returning to work on the original task is known as        .

 

.

 

44.          The lack of understanding and consensus of organization strategy among top and middle-level managers is known as the     .

 

 

45.          The financial model that measures the time it will take to recover the project investment is the

                 model.

 

 

 

46.          The financial model that measures the current value of all cash inflows and outflows using management's minimum desired rate of return is known as the               model.

 

 

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

 

 

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

 

 

49.          In classifying the kinds of projects an organization has in its portfolio, projects that directly support the organization's long-term mission are       projects.

 

 

50.          When considering criteria used to select projects, capturing a larger market share or reducing the dependency on unreliable suppliers would both be examples of               criteria.

 

 

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

 

 

52.          A list of potential projects, several criteria, weights for those criteria, and criteria scores for those projects are all typically included on a(n) matrix.

 

 

53.                          the portfolio system involves monitoring and adjusting selection criteria to reflect the strategic focus of the organization.

 

 

 

 

54.          Project management historically has been preoccupied solely with the planning and execution of projects while strategy was under the purview of senior management.

 

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

 

 

 

56.          A written mission statement provides focus for decision making when shared by organizational managers and employees.

 

 

57.          Project managers should not engage in organizational politics.

 

 

 

58.          Organizational objectives set targets for all levels of the organization not just for top management.

 

 

 

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

 

 

 

60.          Strategy formulation ends with cascading objectives or projects assigned to lower divisions, departments, or individuals.

 

 

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

 

 

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

 

 

 

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

 

 

 

64.          Strategy is implemented through projects.

 

 

 

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

 

 

66.          The first step in the Strategic Management Process is to set long-range goals and objectives.

 

 

 

67.          One benefit of project portfolio management is that it can justify killing a project that doesn't support organization strategy.

 

 

68.          Opportunities and threats can be viewed as flip sides of each other; that is, a threat can be viewed as an opportunity, and vice versa.

 

 

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

 

 

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

 

 

71.          Studies have shown that companies using predominantly financial criteria to prioritize projects yield unbalanced portfolios and projects that aren't strategically aligned.

 

 

72.          Generally, people working on several projects at the same time are more efficient than people working full-time on one project.

 

.

 

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

 

 

 

74.          A proposed project that ranks high on most criteria may not be selected because the organization's portfolio already includes too many projects with the same characteristics.

 

 

75.          Multiweighted scoring models include only quantitative criteria, not qualitative.

 

 

 

 

 

 

76.          "Politics and project management should not mix." Agree or disagree and support your position.

 

 

77.          Why do project managers need to understand strategy?

 

 

78.          Why is it important that organizations develop a process to align selected projects with strategic goals?

 

 

79.          The typical Strategic Management Process includes four activities. Identify and briefly describe each of those four activities.

 

80.          The advantages of successful project portfolio management systems are becoming well recognized. Briefly describe three.

 

 

81.          Identify and briefly describe the five characteristics of effective objectives.

 

82.          What is a SWOT analysis and how does it relate to the Strategic Management Process?

 

 

83.          What is the implementation gap and how does it impact project management? How can it be prevented?

 

 

84.          Identify and briefly discuss the three classes of projects usually found in an organization's project portfolio.

85.          Management of a portfolio system requires two major inputs from senior management. What are they?

 

 

86.          Why is profitability alone not an adequate measure of a project's value to an organization?

 

 

 

87.          What are the two major shortcomings of using the Checklist approach to select projects?