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Strategic Management and Scarce Organization Resources

Example Chapter 2 Quiz 1 Which of the following is not one of the commonly heard comments of project managers? A) Where did this project come from? B) Why are we doing this project? C) How can all these projects be first priority? D) Why is this project so strongly linked to the strategic plan? E) Where are we going to get the resources to do this project? 2 Strategy considered to be under purview of senior management is A) Old school thinking B) A new school of management thought C) Necessary in a company structure D) Beneficial to the Project Manager E) Dependent on company goals The intended outcome of strategy/projects integration is A) Clear organization focus B) Best use of scarce organization resources C) Improved communication across projects and departments D) Both A and C are correct E) A, B, and C are all correct 4 The textbook indicated that ________ is the major dimension of strategic management. A) Responding to changes in the external market B) Allocating scarce resources of the organization C) Beating competition to the market D) Both a and b are correct E) Both a and c are correct 5 Which of the following questions does the organization’s mission statement answer?

A) What are our long-term strategies? B) What are our long-term goals and objectives? C) How do we operate in the existing environment? D) What do we want to become? E) All of these are answered by the mission statement 6 Strategy formulation includes which of the following activities? A) Determining alternatives B) Creating profitability targets C) Evaluating alternatives D) Both a and c are correct E) A, B, and C are all correct 7 The assessment of the external and internal environments is called _______ analysis. A) SWOT analysis B) Competitive C) Industry D) Market E) Strategic 8 Project selection criteria are typically classified as:

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A) Financial and non-financial B) Short-term and long-term C) Strategic and tactical D) Required and optional E) Cost and schedule 9 Which of the following is not one of the classifications for assessing a project portfolio? A) Sacred cow B) Bread-and-butter C) Pearls D) Oysters E) White elephants 10 Which of the following is the reason(s) why project managers need to understand their organization’s mission and strategy? A) To make appropriate decisions and adjustments B) To be effective project advocates C) To be able to get their job done D) Both A and B are correct E) A, B, and C are all correct


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