Podcast
Questions and Answers
Why do project managers need to understand changes in the organization's mission and strategy?
Why do project managers need to understand changes in the organization's mission and strategy?
- To ignore the organization's strategy
- To align projects with the firm's mission (correct)
- To delay project timelines
- To resist any changes imposed by the organization
What does the Strategic Management Process require of every project?
What does the Strategic Management Process require of every project?
- To have its own independent strategy
- To be clearly linked to the firm's strategy (correct)
- To be disconnected from the firm's strategy
- To focus on short-term goals only
How can project managers become effective advocates of projects within an organization?
How can project managers become effective advocates of projects within an organization?
- By aligning projects with the firm's mission (correct)
- By working in isolation from the firm's goals
- By ignoring the organization's strategy
- By resisting any changes in the organization's mission
What is the primary focus of a project priority system in portfolio management?
What is the primary focus of a project priority system in portfolio management?
What role do multi-criteria models play in selecting projects?
What role do multi-criteria models play in selecting projects?
What does the Project Management Body of Knowledge (PMBOK) refer to?
What does the Project Management Body of Knowledge (PMBOK) refer to?
In the context of a project, what do 'major deliverables' refer to?
In the context of a project, what do 'major deliverables' refer to?
Which of the following is NOT a major deliverable of the sports stadium project?
Which of the following is NOT a major deliverable of the sports stadium project?
What is the role of stakeholders in a project?
What is the role of stakeholders in a project?
If a project involves 'Design, Supply of materials, installation, Testing and Handing over of Top roof cover on Out-Fall channel of Sea Water,' what does this refer to?
If a project involves 'Design, Supply of materials, installation, Testing and Handing over of Top roof cover on Out-Fall channel of Sea Water,' what does this refer to?
According to the PMBOK Guide, which individuals or organizations are considered stakeholders?
According to the PMBOK Guide, which individuals or organizations are considered stakeholders?
What is one of the benefits of Project Portfolio Management?
What is one of the benefits of Project Portfolio Management?
Which model measures the time it takes for a project to recover the initial investment?
Which model measures the time it takes for a project to recover the initial investment?
What does the Payback Model in financial models measure?
What does the Payback Model in financial models measure?
In a Portfolio Management System, what does a Multi-Criteria Selection Model do?
In a Portfolio Management System, what does a Multi-Criteria Selection Model do?
What does a Project Portfolio Management system do with projects that do not support the strategy?
What does a Project Portfolio Management system do with projects that do not support the strategy?
What is an essential feature of a portfolio management system design?
What is an essential feature of a portfolio management system design?
What is the main purpose of the Net Present Value (NPV) model?
What is the main purpose of the Net Present Value (NPV) model?
How is a positive Net Present Value (NPV) interpreted in terms of project evaluation?
How is a positive Net Present Value (NPV) interpreted in terms of project evaluation?
What do Nonfinancial Strategic Criteria focus on?
What do Nonfinancial Strategic Criteria focus on?
In Multi-Criteria Selection Models, what does the Checklist Model involve?
In Multi-Criteria Selection Models, what does the Checklist Model involve?
What is the purpose of developing core technology according to the provided text?
What is the purpose of developing core technology according to the provided text?
Which financial metric helps in determining whether an investment should be pursued or not?
Which financial metric helps in determining whether an investment should be pursued or not?
What is the first step in creating a Work Breakdown Structure (WBS)?
What is the first step in creating a Work Breakdown Structure (WBS)?
What is a key feature of the critical chain approach in project management?
What is a key feature of the critical chain approach in project management?
Which of the following is NOT a part of good risk management in projects?
Which of the following is NOT a part of good risk management in projects?
What is a critical aspect of managing projects from an operations strategy perspective?
What is a critical aspect of managing projects from an operations strategy perspective?
What should be done when a project fails?
What should be done when a project fails?
What is a common issue in project management?
What is a common issue in project management?
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