Business Principles: Relationships in Project Management
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Questions and Answers

What is the core focus of project managers according to the text?

  • Implementing marketing strategies
  • Developing new products
  • Managing financial resources
  • Working within an organizational context (correct)

    • When does one usually consider becoming a project manager?

  • After obtaining a P.M.P. accreditation (correct)
  • Before understanding project management values
  • After completing high school
  • Before gaining experience in a particular field

    • What does a vision statement primarily describe for an organization?

  • The organization's financial performance
  • The organization's desired future (correct)
  • The organization's historical achievements
  • The organization's current challenges

    • What is the expected compensation range for project managers with 10+ years of experience?

    <p>$90k to $100k</p> Signup and view all the answers

    According to the text, what guides an organization's priorities, resourcing, and work?

    <p>The organization’s vision, mission, and values</p> Signup and view all the answers

    What is a key requirement for becoming a project manager?

    <p>Gaining experience in a particular field</p> Signup and view all the answers

    What does a mission statement focus on?

    <p>The present and near-term objectives</p> Signup and view all the answers

    What does a vision statement indicate about an organization?

    <p>Long-term aspirations and goals</p> Signup and view all the answers

    According to the text, what do organizational values answer?

    <p>What are the essential beliefs held by the organization</p> Signup and view all the answers

    Why should projects be aligned with business strategy?

    <p>To support a company's portfolio of projects for maximum contributions to strategic objectives</p> Signup and view all the answers

    What does organizational strategy primarily involve shaping?

    <p>Key decisions and actions of an organization</p> Signup and view all the answers

    What does a mission statement of an organization generally address?

    <p>Present and near-term objectives</p> Signup and view all the answers

    What is the primary purpose of aligning projects with business strategy?

    <p>Maximizing contributions to strategic objectives</p> Signup and view all the answers

    According to the text, what is the role of organizational values?

    <p>To answer essential beliefs shared by the organization</p> Signup and view all the answers

    What is the focus of a vision statement?

    <p>Long-term aspirations and goals</p> Signup and view all the answers

    What is the primary purpose of a mission statement?

    <p>To address present and near-term objectives</p> Signup and view all the answers

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