9/11/21, 9:33 AM Module 2: Practice Quiz (Formative Assessment): BMA_4102 : Project Management

Module 2: Practice Quiz (Formative Assessment)

Due
No due date
Points
60
Questions
60
Time Limit
90 Minutes
Allowed Attempts
5

Take the Quiz Again

Attempt History
Attempt Time Score
KEPT Attempt 2
18 minutes 29 out of 60

LATEST Attempt 2
18 minutes 29 out of 60

Attempt 1
22 minutes 29 out of 60

Score for this attempt:

29 out of 60
Submitted Sep 11 at 9:31am
This attempt took 18 minutes.

Question 1 1
/ 1 pts

Why do project managers need to understand their organization's mission

and strategy?

 
It is only important for senior management to understand the organization's
mission and strategy

 
To get their job done and increase opportunities for promotion

 
To reduce project duration and increase the number of projects
implemented

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Correct!  
So they can make appropriate decisions and adjustments and be effective
project advocates

 
So that they can make sure the customer is satisfied

There are two main reasons why project managers need to

understand their organization's mission and strategy. The first
reason is so they can make appropriate decisions and
adjustments. For example, how a project manager would respond
to a suggestion to modify the design of a product to enhance
performance will vary depending upon whether his company
strives to be a product leader through innovation or to achieve
operational excellence through low cost solutions. The second
reason project managers need to understand their organization's
strategy is so that they can be effective project advocates. Project
managers have to be able to demonstrate to senior management
how their project contributes to their firm's mission.

Question 2 1
/ 1 pts

Project selection criteria are typically classified as

 
required and optional.

 
short-term and long-term.

 
cost and schedule.

 
strategic and tactical.

Correct!  
financial and nonfinancial.

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Although there are many criteria for selecting projects, selection

criteria are typically identified as financial and nonfinancial.

Question 3 1
/ 1 pts

At each gate a(n) _______ is made.

 
evaluation

Correct!  
decision

 
judgement

 
analysis

 
assessment

At each gate a decision is made. This may be preceded by

assessment, evaluation, analysis and judgement, but ultimately all
of this translates into a decision about whether to continue,
whether to cancel, whether to revise and resubmit, etc.

Question 4 1
/ 1 pts

The process of assessing "what we are" and deciding and implementing

"what we intend to be and how we are going to get there" is
______________.

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goal and objective clarity

 
reflection and inquiry

Correct!  
strategic management

 
vision and mission setting

 
mission assessment

Strategic management is the process of assessing what we are,

what we intend to be and how we are going to get there. It consists
of constant scanning of the external environment and allocating
resources of the firm to improve its competitive position.

Question 5 1
/ 1 pts

Which of the following would be classified as an organizational external

threat?

 
Declining facilities

Correct!  
Slowing of the economy

 
High labor costs

 
Poor product quality

 
Excellent employees

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Examples of perceived external threats could be a slowing of the

economy, a maturing life cycle, exchange rates, or government
regulation.

Question 6 1
/ 1 pts

Which of the following terms is often used to denote a project that a

powerful, high-ranking official is advocating?

Correct!  
Sacred cow

 
Political necessity

 
Strategic ploy

 
Pet project

 
Special undertaking

The term "sacred cow" is often used to denote a project that a

powerful, high-ranking official is advocating.

Question 7 1
/ 1 pts

Which of the following is NOT true about organizational politics?

 
Politics can play a role in the aspirations behind projects.

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Politics can have a significant influence on which projects receive funding.

Correct!  
Project managers should not engage in organizational politics.

 
Politics can influence project selection.

 
Politics exist in every organization.

Many would argue that project management and politics should

not mix. A more proactive response would be that projects and
politics invariably mix. Effective project managers recognize that
any significant project has political ramifications within an
organization no matter how large or small.

Question 8 1
/ 1 pts

All of the following are symptoms of organizations struggling with strategy

disconnect and unclear priorities EXCEPT

 
inadequate resources.

 
frequent conflicts between managers.

Correct!  
not enough projects within the portfolio to make a profit.

 
confused employees regarding which projects are more important.

 
people are working on multiple projects and feel inefficient.

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Frequent conflicts between managers, inadequate resources,

confused employees and multitasking are all symptoms of
organizations struggling with strategy disconnect and unclear
priorities. Typically these organizations are also completing
projects with low priority which results in a portfolio that consists of
too many projects that do not align with organizational strategy.

Question 9 1
/ 1 pts

A project selection process that is strongly linked to strategy results in

 
a larger and more diverse organization.

Correct!  
better utilization of the organization's resources.

 
stronger core competencies.

 
more projects.

 
the most profit.

Without integration of projects with the strategic plan, resources

are poorly utilized. Conversely, organizations that have a link of
projects to strategy have more cooperation across the
organization, perform better on projects and tend to have fewer
projects.

Question 10 1
/ 1 pts

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9/11/21, 9:33 AM Module 2: Practice Quiz (Formative Assessment): BMA_4102 : Project Management

Which of the following problems refers to lack of understanding and

consensus of organization strategy among top and middle-level
managers? This also can result when top management formulates
strategy and leaves implementation to functional managers.

Correct!  
Implementation gap

 
Multitasking

 
Organization politics

 
Resource conflicts

 
Employee turnover

The implementation gap refers to the lack of understanding and

consensus of organization strategy among top and middle-level
management.

Question 11 1
/ 1 pts

The purpose of the management system that spans the lifetime of any
project is _____.

 
All of these alternatives are correct

 
ensure the project stays within budget

Correct!  
ensure the project is worthwhile and is contributing to the goals and
strategy of the organization

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ensure the project remains on schedule

 
ensure the project stays within both budget and schedule

The purpose of the project management system known as the

phase gate model is to make certain the project is worthwhile and
is contributing to the goals and strategy of the organization.

Question 12 1
/ 1 pts

The first part of the management system that spans the lifetime of the
project is called the ____.

 
project phase exit

 
project gate process

 
project kill process

 
project exit process

Correct!  
project selection process

The first part of any project management system is the project

selection process. This part will likely involve more than one gate,
but always the first two or more gates.

Question 13 1
/ 1 pts

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Regardless of the criteria differences among different types of projects,

typically the most important criterion for project selection is

 
how the project will balance risk within the project portfolio.

 
compliance.

 
nonfinancial.

Correct!  
the project's fit to the organization strategy.

 
profit.

The project's fit to the organization strategy is the most important

criterion for project selection. This criterion should be consistent
across all types of projects and carry a high priority relative to
other criteria.

Question 14 1
/ 1 pts

When a prioritization team is balancing projects, they consider all factors

except for

 
All of these alternatives are correct.

Correct!  
Leadership style.

 
Resource demand.

 
Risk.

 
Type of project.

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Leadership style is how the manager manages; it only has

relevance if it does not assist the project meet its goals.

Question 15 1
/ 1 pts

Which of the following is NOT one of the traditional components found in

mission statements?

Correct!  
Profitability

 
Target customers and markets

 
Geographic domain

 
Major products and services

 
Contribution to society

Traditional components found in mission statements are major

products and services, target customers and markets, and
geographical domain. In addition, statements frequently include
organizational philosophy, key technologies, public image, and
contribution to society.

Question 16 1
/ 1 pts

How strategies will be realized, given available resources, is answered

through __________.

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Correct!  
implementation

 
frameworks

 
strategy formulation

 
projects

 
resource allocation

Implementation answers the question of how strategies will be

realized, given available resources. The conceptual framework for
strategy implementation lacks the structure and discipline found in
strategy formulation.

Question 17 1
/ 1 pts

When it comes to project prioritization, senior management is responsible

for

 
developing a culture where everyone contributes to the goals of the
organization.

 
determining the priority of each project.

 
setting the course for the organization.

Correct!  
All of the these choices are correct.

 
directing the organization to a strong future position.

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Senior management has ultimate responsibility for prioritizing each

and every project, for directing the organization to a strong future
position, for developing a culture where everyone contributes to
the goals of the organization.

Question 18 1
/ 1 pts

Examples of nonfinancial criteria include all of the following EXCEPT

Correct!  
calculating the time it will take to recover the project investment.

 
capturing a larger market share.

 
making it difficult for competitors to enter the market.

 
reducing dependency on unreliable suppliers.

 
preventing government intervention and regulation.

The payback model measures the time it will take to recover the
project investment. It is considered a financial criterion.

Question 19 1
/ 1 pts

One who endorses and lends political support for the completion of a
specific project is known as the

Correct!  
Project sponsor.

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CEO.

 
Project lead.

 
Sacred cow.

 
Project manager.

Project sponsors play a significant role in the selection and

successful implementation of product innovation projects. Project
sponsors are typically high-ranking managers who endorse and
lend political support for the completion of a project.

Question 20 1
/ 1 pts

Project managers who understand the role that their project plays in
accomplishing the organization's strategy will be inclined to do all of the
following EXCEPT

 
explain to team members why certain project objectives and priorities are
critical.

 
explain to stakeholders why certain project objectives and priorities are
critical.

 
be able to respond appropriately to delays and/or questions about product
design.

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demonstrate to senior management how their project contributes to the
firm's mission.

Correct!  
be able to focus on problems or solutions if the project is a low priority
strategically.

Project managers who understand the role that their project plays
in accomplishing the organization's strategy will not be inclined to
waste time focusing on problems that are a low priority in regard to
achieving the organization's strategy.

Question 21 1
/ 1 pts

A project screening matrix typically contains all of the following EXCEPT

 
specific criteria.

 
weights assigned to specific criteria.

 
the list of available projects.

Correct!  
costs to complete each project.

 
All of these are typically contained.

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Screening matrices should contain both financial and nonfinancial

criteria that align with organization strategy. Weights are assigned
to these criteria based on how well they align with strategy.
Available projects are included in the matrix for comparison.

Question 22 0
/ 1 pts

The management system that spans the lifetime of the project is called
the ____.

 
lifetime model

ou Answered  
lifetime cycle model

 
lifetime phase exit model

orrect Answer  
phase gate model

 
project lifetime model

A structure is needed to manage each project over its lifetime.

That structure is the phase gate model.

Question 23 1
/ 1 pts

Which of the following is the correct order for the strategic management
process?

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Objectives, mission, strategies, projects

Correct!  
Mission, strategies, objectives, projects

 
Objectives, projects, mission, strategies

 
Projects, mission, strategies, objectives

 
Strategies, mission, objectives, projects

Once the mission statement has been written, strategies are

formulated. After this, objectives are developed to achieve the
strategy and finally strategies are implemented through projects.

Question 24 1
/ 1 pts

________ translate the organization's strategy into specific, concrete, and

measurable terms.

 
Goals

Correct!  
Objectives

 
Mission statements

 
Vision statements

 
Lessons learned

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Objectives translate the organization strategy into specific,

concrete, measurable terms. Organizational objectives set targets
for all levels of the organization.

Question 25 1
/ 1 pts

The assessment of the external and internal environments is called

_______ analysis.

 
Strategic

 
Market

 
Industry

 
Competitive

Correct!  
SWOT

The keys are to attempt to forecast fundamental industry changes

and stay in a proactive mode rather than a reactive one. This
assessment of the external and internal environments is known as
the SWOT analysis (strengths, weaknesses, opportunities, and
threats).

Question 26 1
/ 1 pts

Which of the following is NOT true about an organization's strategy?

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Project management plays a key role in supporting strategy.

 
Strategy determines how an organization will compete.

Correct!  
Only top management must understand strategy.

 
Project selection should be clearly aligned with strategy.

 
Strategy is implemented through projects.

Strategy was considered to be under the purview of senior

management, but this is old school thinking. Projects and project
management play a key role in supporting strategic goals. It is vital
for project managers to think and act strategically.

Question 27 1
/ 1 pts

Which of the following would be classified as an organizational

opportunity?

 
Excellent employees

 
Talented management

Correct!  
Increasing product demand

 
Low debt

 
Government regulation

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Typical opportunities are increasing demand, emerging markets,

and demographics. Managers or individual firms have limited
opportunities to influence such external environmental factors;
however, in recent years notable exceptions have been new
technologies such as Apple using the iPod to create a market to
sell music.

Question 28 1
/ 1 pts

Jack’s organization has many projects ongoing concurrently. He finds

himself starting and stopping work on one task to go and work on another
task, and then return to the work on the original task. Jack is experiencing

 
excess work burden.

Correct!  
multitasking.

 
poor scheduling.

 
burnout.

 
flexible tasking.

Resource sharing also leads to multitasking. Multitasking involves

starting and stopping work on one task to go and work on another
project, and then returning to the work on the original task. People
working on several tasks concurrently are far less efficient,
especially where conceptual or physical shutdown and startup are
significant.

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Question 29 1
/ 1 pts

Which of the following questions does the organization's mission

statement answer?

Correct!  
What do we want to become?

 
What are our long-term goals and objectives?

 
What are our long-term strategies?

 
How do we operate in the existing environment?

 
All of these are answered by the mission statement.

The mission identifies "what we want to become," or the raison

d'être. Mission statements identify the scope of the organization in
terms of its product or service. They communicate and identify the
purpose of the organization to stakeholders.

Question 30 1
/ 1 pts

People within an organization working on multiple efforts concurrently is

an indicator of

Correct!  
too many projects taken on at once.

 
optimized processes.

 
shrewd scheduling.

 
completely allocated staff.

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project prioritization

Human beings are notoriously bad at multi-tasking. Research has

shown that those who claim to be very good at multitasking are
actually worse at it.

Quiz Score:
29 out of 60

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