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Exam 2: Organization Strategy and Project Selection

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Question 21

True/False

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

A) True
B) False

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Question 22

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Project selection criteria are typically classified as

A) Financial and nonfinancial.
B) Short-term and long-term.
C) Strategic and tactical.
D) Required and optional.
E) Cost and schedule.

F) B) and D)
G) All of the above

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Question 23

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Which of the following is NOT one of the requirements for successful implementation of strategies through projects?

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

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

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

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

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.

Strategy is implemented through projects.

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.

Strategy is implemented through ________.

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

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

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

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

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

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

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

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

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