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
C)Only top management must understand strategy
D)Project selection should be clearly aligned to strategy
E)Project management plays a key role in supporting strategy
2.Which of the following is NOT true about organizational politics
A)Project managers should not engage in 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
3.Which of the following terms is often used to denote a project that a powerful, high-ranking official is advocating?
A)Sacred cow
B)Pet Project
C)Political necessity
D)Special undertaking
E)Strategic ploy
4.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
E)Be able to focus on problems or solutions, even if the project is a low priority strategically
5.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
C)Implementation gap
D)Resource conflicts
E)Employee turnover
6.Which of the following is NOT true for strategic management?
A)It should be done once every few years just before developing the operating plan
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
7.Which of the following is the correct order for the strategic management process?
A)Strategies, mission, objectives, projects
B)Objectives, projects, mission, strategies
C)Mission, strategies, objectives, projects
D)Objectives, mission, strategies, projects
E)Projects, mission, strategies, objectives
8.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?
D)What do we want to become?
E)All of these are answered by the mission statement
9.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
E)All of these should be considered when formulating strategies
10.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
E)Quality management
11.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
D)Multitasking
E)Burnout
12.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
E)None of these
13.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
B)The project's fit to the organization strategy
C)Compliance
D)Non-financial
E)Profit
14.Which of the following is true of multi-weighted 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
E)All of these are true
15.The following are responsibilities of the governance team when managing a portfolio system EXCEPT
A)Deciding how they wish to balance the available organizational resources among the different types of projects
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