Project Management Exam 1

strategy is implemented primarily through projects, successful implementation means reaching the goals of the organization

Which is true of the role projects play in the strategic management process? strategy is implemented primarily through projects, successful implementation means reaching the goals of the organization, most organizations excel at using projects to implement strategy

projects represent how a strategy is to be implemented

how are projects linked to the strategic plan?

each classification will have its own selection criteria. as such, the decision on funding is driven, in part, by its classification.

the portfolio of projects is typically represented by compliance, strategic, and operations projects. What impact can this classification have on project selection?

it discourages projects that do not make positive and significant contributions to the organization’s vision, it ensures projects are selected on the basis of their contribution, it encourages bottom-up initiation and self-evaluation

which is true of an open and published priority system? it is intimidating in practice, it discourages projects that do not make positive and significant contributions to the organization’s vision, key departments are still able to get their projects selected for the wrong reasons, it ensures projects are selected on the basis of their contribution, it encourages bottom-up initiation and self-evaluation

it is difficult to assess ROI for many important projects, developing new technology may be a better consideration than ROI

which is true of the use of ROI to select projects? The use of ROI ensures that selected projects contribute to the mission, it is difficult to assess ROI for many important projects, multiple screening criteria are not recommended for selecting and prioritizing projects, developing new technology may be a better consideration than ROI

the weighted factor model allows self-evaluation, the weighted factor model is an open system, the checklist model is flexible

which is true of the checklist and weighted factor methods of selecting projects? the weighted factor model allows self-evaluation, the weighted factor model is an open system, the checklist model allows rigorous comparison and rankings of projects, the checklist model exposes power and politic games, the checklist model is flexible

IBM

According to Snapshot from Practice 2.1, the Watson project was developed by

Not really. The Watson project is simply a manifestation of the move from computer hardware to a service strategy over a decade ago

Does Watson represent a new strategy direction for IBM? If so, in which direction?

global competition, time to market, focus on sustainability, knowledge growth, increasing pace of change

Which are the key environmental forces that have changed the way projects are managed?

prioritizing resources across projects, linking projects to organization strategy, changing organization structures

What has been the effect of environmental forces on the management of projects?

PMI

The ____ is an international society for project managers.

PMP and CAPM

What certifications does PMI provide for project managers?

flexible utilization of resources across projects and between functional areas

the advantages of the functional approach over the matrix and dedicated team approaches to managing projects include all of the following EXCEPT: in-depth expertise on specific project components; maximum flexibility of staff usage; flexible utilization of resources across projects and between functional areas; normal career paths can be maintained; no radical alteration in basic structure of the parent organization

does not disrupt basic nature of the organization

the advantages of the matrix approach over the functional and dedicated team approaches to managing projects include all of the following EXCEPT: specialists maintain ties with their functional group; does not disrupt the basic structure of the parent organization; flexible utilization of resources across projects and between functional areas; aids in balancing complex technical issues with unique project requirements; a holistic approach is provided by having a designated project manager coordinate across functional areas