20 Questions
According to the text, what is the purpose of the Project Portfolio Process?
To balance short-, medium-, and long-term returns
What is the first step in the Project Portfolio Process?
Establish a project council
According to the text, who are the members of the project council?
Senior management
What are the four separate categories of projects identified in the Project Portfolio Process?
Platform projects
Which of the following is NOT a problem with having multiple projects?
Projects are closely tied to goals and strategy
What does project management maturity refer to?
The mastery of skills required to manage projects competently
What determines an organization's success according to the text?
The portfolio of projects
What is one challenge mentioned in the text regarding multiple projects?
Handling the growing number of projects
Which model assumes all criteria are of equal importance?
Unweighted 0–1 factor model
What is a major disadvantage of the unweighted 0–1 factor model?
It assumes all criteria are of equal importance
What is the main advantage of the weighted factor model?
It allows important factors to stand out
What is the purpose of the project portfolio process?
To limit the number of projects being managed so the important projects get the needed resources and attention
Which one of these is a characteristic of a project management maturity level that is considered 'Managed'?
Systems are installed and used to manage and control projects, and the project success rate is high
Which one of these is a characteristic of a project management maturity level that is considered 'Optimizing'?
Has integrated databases that contain historical information to allow continued improvement of the project management system
What is the purpose of project selection?
To evaluate proposed projects and choose to implement some of them in order to achieve the objectives of the parent organization
Which one of these is a characteristic of a non-numeric project selection model?
Justifications for projects that are suggested by top management
Which method of numeric models for project evaluation takes into account the time value of money?
Discounted cash flow
Which formula is used to calculate the Net Present Value (NPV) of a project?
$NPV(project) = A0 + \sum_{t=1}^{n} \frac{Ft},{(1+k)^t}$
What does the Internal Rate of Return (IRR) represent in numeric models for project evaluation?
The discount rate that causes the NPV to be equal to zero
What are the advantages of Profitability Models in project evaluation?
All of the above
Test your knowledge on Numeric Models for project evaluation with this quiz. Learn about the two major categories, Profit/Profitability Scoring, and explore models such as Payback Period, Discounted Cash Flow (NPV), and Internal Rate of Return. Dr. Yasser Almoghathawi, KFUPM, will guide you through this quiz.
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