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MGT 450 exam #1 chapter 2

Terms in this set (41)

R in SMART stands for
realistic
The assessment of the external and internal environments is known as the _______analysis.
SWOT
Resource sharing also leads to________.
multitasking
What are two types of risks associated with a strategic project portfolio?
a. Total risk of all the projects.
b. Specific project risks.
c. White elephant risk.
d. Classification risk.
a. Total risk of all the projects.
&
b. Specific project risks.
The projects have low commercial potential and low technical feasibility.
a. Oysters
b. Pearls
c. Bread-and-butter
d. White elephants
d. White elephants
S in SMART stands for
specific
The number of small and large projects in a portfolio almost always exceeds the available ________ .
resources
Criteria for project selection are where the ________ of a portfolio starts to manifest itself.
power
The considerations for a proper mix of projects in a portfolio system should include which considerations?
a. Hurdle rate
b. Resource demand
c. Risk
d. Type
b. Resource demand
c. Risk
d. Type
The projects have high commercial potential and high technical feasibility.
a. Oysters
b. Pearls
c. Bread-and-butter
d. White elephants
b. Pearls
Which of the following is not a benefit of a project portfolio management system?
a. Prioritizes project proposals across a common set of criteria, rather than on politics or emotion.
b. Links project selection to strategic metrics.
c. Improves communication and supports agreement on project goals.
d. Balances risk across all projects.
e. Justifies killing projects that do not support organization strategy.
f. Sacred cow projects are protected.
g. Allocates resources to projects that align with strategic direction.
h. Builds discipline into project selection process.
f. Sacred cow projects are protected.
True or false: Senior management uses weighted scoring models to build a project portfolio which maximizes short-term profitability.
false
What are two types of risks associated with a strategic project portfolio?
a. White elephant risk.
b. Total risk of all the projects.
c. Classification risk.
d. Specific project risks.
b. Total risk of all the projects.
&
d. Specific project risks.
Identify the second step in strategy formulation.
a. Create objectives and/or projects to achieve the plan.
b. Define critical issues and strategic alternatives.
c. Assess the internal and external environments.d. Analyze who's in the customer base and their needs/wants.
c. Assess the internal and external environments.
The considerations for a proper mix of projects in a portfolio system should include which considerations?
a. Type
b. Hurdle rate
c. Resource demand
d. Risk
a. Type
c. Resource demand
d. Risk
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