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 (D)</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 (C)</p> Signup and view all the answers

What is a key requirement for becoming a project manager?

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

What does a mission statement focus on?

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

What does a vision statement indicate about an organization?

<p>Long-term aspirations and goals (A)</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 (C)</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 (B)</p> Signup and view all the answers

What does organizational strategy primarily involve shaping?

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

What does a mission statement of an organization generally address?

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

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

<p>Maximizing contributions to strategic objectives (A)</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 (D)</p> Signup and view all the answers

What is the focus of a vision statement?

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

What is the primary purpose of a mission statement?

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

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