Business Environment Flashcards
Quincy and Michael are two executives of Widgets for Life, a company providing the latest cool lifestyle gadgets. They have recently decided to invest further in their organization’s project management capabilities by creating a PMO. After lengthy discussions, they decide to focus on a PMO model that will drive compliance against a set of project management standards. What type of PMO are they implementing?
Agile Directive Controlling Supportive
A controlling PMO is focused on two key areas: providing the organization with support in its application of project management practices and requiring compliance against those practices.
You have just started working for a new company. Your previous project management experience made you stand out from your competitors. Your new business cards are being printed with the title of project coordinator. You discover that the project charter for the project you are working on was never written, so you volunteer to draft one, even though the work of the project has started. The vendor who is assisting with the project is already on board and is working with (and reporting to) the engineering division. You report to the construction division. Which of the following is true?
You are working in a strong matrix organization and are in the Executing phase of the project. You are working in a weak matrix organization and are in the Planning phase of the project. You are working in a strong matrix organization and are in the Initiating phase of the project. You are working in a weak matrix organization and are in the Executing phase of the project.
The title of project coordinator indicates this is a weak matrix organization and that you are working within one of the business units rather than under the PMO (as you would if you were in a strong matrix organization). The question also states that the work of the project has begun, so you are in the Executing phase of the project.
Premature closure of a project phase that is managed using an Adaptive approach is likely to experience greater failure due to sunk costs versus a project managed using a Predictive approach.
This is a true statement. This is a false statement.
This is a false statement.
Which of the following are considered factors that influence the initiation of a project? Select 3
- Compliance, legal requirements, or social requirements
- Stakeholder needs and requests
- Improvement of processes, services, or products
- Enhancement of existing operations
According to the PMBOK® Guide, projects are initiated by business leaders because of the following categories or factors: regulatory compliance, legal requirements, or social requirements; stakeholder needs and requests; changing technology needs of the organization; create or improve processes, services, or products.
All of the following statements about fairness are true except for which one?
- Conflicts of interest might include your associations or affiliations.
- Accepting vendor gifts is sometimes acceptable.
- Fairness encompasses diversity training and preventing culture shock.
- Fairness includes avoiding favoritism and discrimination.
Respect, not fairness, is the value that addresses culture shock and diversity training. Accepting vendor gifts is acceptable when the gift or situation complies with a company’s stated policies.
A program manager working for an infectious disease nonprofit has just been assigned to a program that seeks to solve a deadly issue plaguing a third-world country. The issue involves a deadly bacteria that has entered into a major water source that branches out into multiple regions across the country. The first project will involve a feasibility study. This project came about as a result of what?
Regulatory requirement Social need Environmental considerations Strategic opportunity
This project came about as a result of social need. Social need is one of seven typical reasons that trigger the need for a project, as noted by the PMBOK® Guide.
A project manager is managing a project that contains a high degree of ambiguity. The project team is expected to adapt to changes as the scope of work becomes clearer over time. To better set expectations with the team, what is the project manager likely to communicate regarding the use of an iterative approach to managing the project life cycle?
- The work will experience short feedback loops with reprioritization of the backlog over iterations.
- The team will take work from the backlog bottom up to account for ongoing reprioritization of the work.
- The work will be progressively elaborated, with feedback loops inserted quarterly.
- Features will be prioritized up front, and the decomposition of the work will be progressively elaborated.
The work will experience short feedback loops with reprioritization of the backlog over iterations.
Projects using an iterative and incremental approach to managing the project life cycle tend to experience short feedback loops and reprioritization of the backlog. Frequent delivery and feedback allow the team to adapt and adjust to changes quickly, as well as prioritize appropriately.
You’ve recently begun to suspect your friend, a fellow PMP credential holder, might be accepting gifts from hardware vendors who are bidding on an upcoming multimillion-dollar project that she’s going to manage. She has a new LED flat-screen computer monitor at her desk, she showed off her new electronic tablet at a meeting two days ago, and today she unpacked a new ultra-thin laptop while you were in her office. Which of the following should you do?
- You tell your friend these gifts probably aren’t appropriate and leave it at that.
- You tell your friend you’re concerned about the appearance of impropriety because of all the new things she’s purchased lately, so you ask her directly whether these items were gifts from the vendor or whether she purchased them herself.
- You know this is a conflict-of-interest situation, and it violates the Code of Ethics and Professional Conduct. You report your friend so that an investigation can take place.
- You and your friend have a long conversation about the items she’s received, and she decides to return them and not accept any more items from vendors in the future.
The best answer in this situation is to get the facts before taking any action. A violation based only on suspicion should not be reported. You can get the facts by telling your friend you’re concerned about the appearance of impropriety and ask her whether the vendor gave her these items. It could be that these are the first of several samples that will be coming from all the vendors bidding on the project so the equipment can be evaluated in light of the project objectives. Or she could have accepted them as gifts, which is not appropriate. Never jump to conclusions. Always ask and get the facts straight before reporting a conflict-of-interest situation.
All of the following describe a functional organizational structure except for which one?
A project manager has little or no authority. The role of project manager is part-time. The functional manager manages the project budget. The role of project manager can be full-time.
In a functional organization, the role of project manager typically does not exist. Instead, it may be a part-time role or a similar role such as a project coordinator
You are the project manager for a company that produces mobile phone applications. Currently, the director of the consumer division is evaluating two projects. Funding exists for only one project. Project UV aims to produce a mobile phone application that sends alerts when the UV rays are at dangerous levels, alerting users to stay indoors; Project Fun aims to send alerts when it detects that users have not visited any destinations outside of their usual routine. The director asks you to calculate the payback period and NPV for both projects, and here is what you derive: Project UV: The payback period is 12 months, and the NPV is (100). Project Fun: The payback period is 18 months, and the NPV is 250. Which project would you recommend to the director?
Project Fun, because the NPV is a higher number than Project UV Project UV, because the payback period is shorter than Project Fun Project Fun, because the NPV is a positive number Project UV, because the NPV is a negative number
Projects with NPV greater than 0 should be recommended; the key determining factor in selecting Project Fun is that the NPV is positive. Had both NPVs been positive, then the determining factor would have been the greater NPV number, since the scenario notes that funding exists for only one project. Payback period is considered the least precise selection method and is not typically the sole determining factor.
Yasmin is a senior project manager who has just taken on a project that will produce a new line of medical widgets for a Fortune 100 company. The entire industry is buzzing with excitement over this project, which is estimated to span three years and require an investment of $1.5 billion from the company. What type of project is this?
Portfolio Megaproject Strategic project Program
A megaproject is defined as a large multiyear project that costs more than $1 billion and affects 1 million or more people.
Match the type of PMO with its description.
Supportive PMOs have a low degree of control, controlling PMOs have a moderate degree of control, and directive PMOs have a high degree of control.
Robert is a new executive hired to lead the marketing department of a telecommunications company. He recently met with his project management team to review the project portfolio. Next, he sets his sights on better understanding the governance framework in place. Governance is considered to be which of the following?
Organizational process assets Project management methodology Agile Manifesto Enterprise environmental factors
The organization’s culture, structure, and governance are considered to be part of enterprise environmental factors. Enterprise environmental factors are conditions or capabilities that are not under the direct control of the project team but that influence or constrain the project.
You are a project manager working in an organization that is considered to be a weak matrix organizational type. You are two months into a four-month project when the functional manager for half of your most critical resources announces that she will be reallocating them to another project. You explain to her that this will result in early closure of your project and that resources should not be redirected. What is the likely outcome of this scenario?
Resources will be distributed to another project. You will resign, and the project will end. The functional manager will pull the project budget. Resources will not be distributed to another project.
In a weak matrix organization, the functional manager has greater authority than the project manager. Based only on the information provided within the question, it is likely that resources will be reassigned to another project.
A project manager is in the process of measuring the extent to which the project is compliant with regulatory standards by conducting an audit. What activity are they performing?
Retrospective Quality review Change management Quality assurance
According to the PMBOK® Guide, quality assurance, which occurs through the Manage Quality project management process, is most concerned with using project processes effectively. This includes assuring stakeholders that the end result of the project will meet their needs and expectations and that quality requirements are met.
What considerations should be given when applying organizational change management? Select two
A methodology for project change management Application of change management at the project, program, and portfolio levels A change control process facilitated by the Scrum Master A framework for achieving change
According to Managing Change in Organizations: A Practice Guide, published by PMI, there are three recommendations to consider when applying organizational change management at a comprehensive level: 1) models for describing change dynamics, 2) framework for achieving change, and 3) application of change management practices at the project, program, and portfolio levels.
You are a full-time project manager working within the customer operations organization, reporting to the VP of customer solutions. Your boss manages the project budget. Which organizational structure do you work in?
Hybrid Functional PMO Project-oriented
The question describes a hybrid organizational type, likely a mixture of a weak and a strong matrix. A clue is that your title is project manager, which does not typically exist in a purely functional organization; another is that the functional manager manages the project budget, which is not typical in a project-oriented or PMO organizational type.
What type of organization experiences the least amount of stress during project closeout?
Strong matrix Project-oriented Weak matrix Functional
Weak matrix organizational structures tend to experience the least amount of stress during the project closeout processes.
You are a project manager for the information technology division of a local satellite TV broadcasting company. This spring, the chief information officer for your company gave you the job of converting and upgrading all the PCs in the department to the latest release of a specific desktop application. Prior to this conversion, all manner of desktop software existed on machines throughout the company and had caused increasing problems with sharing files and information across the company. A lot of unproductive hours were spent converting information into several formats. This project came about as a result of which of the following?
Social need Market demand Business need Technological advance
This came about because of a business need. Staff members were spending unproductive hours converting information, causing the company loss. The time the employees spent converting the information could have been spent doing something more productive.
Robert is a new executive hired to lead the marketing department of a telecommunications company. He sits down with his most senior project manager to review a proposal that was created by one of his directors, pitching a new project. The proposal contains a business summary of market demand that justifies the need for the project, the expected outcomes, return on investment, and a comprehensive cost analysis. The proposal can also be described as:
Project charter Feasibility study Benefits management plan Business case
The business case is a feasibility study that lists objectives and reasons for a project. It identifies critical success factors for the project, why the project was undertaken, an analysis of the situation, and recommendations.
What is the present value of $8,000 received three years from the present using a 7 percent interest rate? Assume all options are rounded to the nearest whole dollar.
$6,612 $9,680 $9,800 $6,530
The formula for present value is PV = FV / (1 + i)n. Plugging in the information from the question, the formula becomes $8,000 / (1 + .07)3 = $6,530.
A project manager is performing activities associated with the Plan Procurement Management process. Which tool or technique can the project manager use to gather information on specific seller capabilities?
Source selection analysis Advertising Make-or-buy analysis Market research
Market research can be used to examine industry and seller capabilities. Information can be obtained in places such as conferences, online reviews, and other sources available in the market.
You are a project manager working on contract for an upscale retail toy store. Your project involves implementing a Party Event Planner department in stores in 12 locations across the country as a pilot to determine whether this will be a profitable new service all the stores should offer. You’ve identified two alternative methods of implementing the pilot. Alternative A’s initial investment equals $598,000. The PV of the expected cash inflows is $300,000 in year 1 and $300,000 in year 2. The cost of capital is 12 percent. Alternative B’s initial investment equals $625,000. The PV of Alternative B’s expected cash inflows is $323,000 in year 1 and $300,000 in year 2. The cost of capital is 9 percent. Which of the following is true?
Alternative A will earn a return of at least 12 percent. Alternative B will earn a return of at least 9 percent. The return is not known for either Alternative A or Alternative B. Both alternatives are viable choices.
A positive value for NPV means the project will earn a return at least equal to or greater than the cost of capital. Since NPV for Alternative A is positive, this alternative will earn at least a 12 percent return.
All of the following are examples of constrained optimization methods except for which one?
Economic models Multi-objective programming Dynamic Integer
Economic models are an example of a benefit measurement method, not a constrained optimization method. These are project selection techniques that can be used to measure the advantages or merits of the product of the project.
Antwon, the director of marketing, approaches you to tell you about the latest idea he had for a new phone app that he called Project UV2. Since he was the brain behind the company’s top-selling app, you take him seriously. He notes that his idea involves enhancing the existing UV app by improving the backend to sit on technology that the company recently rolled out, thereby making response time faster. The backend changes would not affect the phone app functionality, nor would they require any new configurations to be made. This is considered to be which of the following?
A secondary phase of Project UV A program A project Ongoing operation
Projects exist to create a unique product, service, or result. What the director in the scenario describes is shifting the backend of an existing app to technology that also already exists within the company. This would reflect operations, which are considered to be ongoing and repetitive, versus the creation of new capabilities.
Which of the following represent components of a benefits management plan?
Business need Target benefits Strategic alignment Metrics
A benefits management plan describes how and when the benefits of a project will be delivered. It also describes what mechanisms should be in place to measure those benefits. Examples of key elements that make up a benefits management plan include target benefits, strategic alignment, timeframe for realizing benefits, benefits owner, metrics, assumptions, and risks. Business need is captured within a business case.
All of the following are true regarding the organizational process assets updates output of the Manage Communications process except for which one?
- Lessons learned documentation is part of this output, and lessons learned meetings should be conducted at the end of project phases and at the end of the project at a minimum.
- Feedback from stakeholders is part of this output and can improve performance on future projects, but it is too late to incorporate the feedback on the current project.
- Project reports are part of this output and include status reports, among others, and according to the PMI Code of Ethics and Professional Conduct, the status of projects should always be truthful.
- Stakeholder notifications are part of this output and go hand in hand with one of the areas covered in the Role Delineation Study in the PMI Code of Ethics and Professional Conduct.
All the options are part of the organizational process assets updates output of this process. Feedback from stakeholders can be used on the current project as well as future projects.
A project manager has been reassigned to another project after her previous project evolved to ongoing operations. What type of project ending did she experience?
Integration Starvation Addition Extinction
Addition is a project ending where a project evolves into ongoing operations. In these cases, a full-time staff can be required to support ongoing operations, maintenance, and monitoring of a project’s deliverable.
Which of the following best defines business value?
- Critical success factors of the project
- An outcome of actions, behaviors, products, services, or results that provide value to the organization
- The net quantifiable benefit derived from a business endeavor
- The explanation for how benefits will be created, maximized, and sustained by the project
According to PMI, business value is defined as the net quantifiable benefit derived from a business endeavor. These benefits may be intangible, tangible, or both.
A project manager has just been assigned to a newly approved project and has been tasked with developing the first draft of the project charter. To better understand the financials, the project manager decides to review the net present value and payback period calculated for the project. Which of the following can the project manager reference for this information?
Business case Benefits management plan Project budget Project charter
The business case is an economic feasibility study used to understand the business need for the project and determine whether the investment is worthwhile. In short, it justifies the need for the project and contains information such as the project description, highlevel description of scope, analysis of the problem, financial analysis, and success factors.
You are the newly appointed project manager of a high-profile, critical project for your organization. The project team is structured outside your normal organizational structure, and you have full authority for this project. What type of organization does this describe?
Strong matrix Hybrid Balanced matrix Functional
Hybrid organizations are a combination of various organizational types and typically involve a project-oriented structure coexisting within a functional organization.
Which of the following is a valid tool or technique that aids the project manager, or other assigned organizational resource, in developing the project charter?
Enterprise environmental factors Brainstorming Business case Organizational process assets
Brainstorming is a form of data gathering, a technique of the Develop Project Charter process. Other examples of data gathering include focus groups and interviews.
Reasons to Lyv is the top client of a large marketing firm. Trudy is the president of Reasons to Lyv and has decided to launch a product that leverages new GPS tracking technology. She has high confidence that the project will be a success and asks the marketing firm to make it their top priority by generating a unique campaign that will run in parallel with her project. Billy, a top executive from the marketing company, briefs his team about this unique situation that they have not managed before, and a project is launched shortly thereafter. Billy’s project came about as a result of what?
Strategic opportunity Environmental considerations Technological advance Customer request
Since the marketing company where Bill works is a customer of Reasons to Lyv, the project being managed within his organization is a result of a customer request.
Carina is a principal project manager of You’ve Got Dogs, a specialty company that creates custom dog apparel and toys. She has just concluded the Design phase and is scheduled to perform a phase review with the steering committee facilitated by the company’s PMO. Phase reviews are also called by what other name?
PMO review Kill point Project review End point
According to the PMBOK® Guide, phase reviews are also called phase gates, phase entrances, phase exits, stage gates, and kill points. Phase reviews typically serve as checkpoints at the end of a phase where performance or progress is evaluated against the project charter or plan. Once completed, the project progresses to the next phase.
You work in the pharmaceutical industry, and your organization is considering building a new laboratory facility in the Northwest. Market demand is driving new research for diet medications, and the new lab would be dedicated to this product development project. Some stakeholders in your organization are not certain a new lab facility is needed because there is space that can be used in an existing building to host the diet medication research project. You’ve conducted a feasibility study, and the results show two possible ways to meet the space needs. Which of the following is true regarding this situation?
- Project selection methods are concerned with the type of things executive managers think about, such as public perception, financial return, customer loyalty, and market share.
- Project selection methods are an output of an Initiating group process that can be used to choose among alternative ways of doing a project. Project managers are generally involved with selecting among alternative projects.
- Project selection methods are used before the Develop Project Charter process to choose among alternative ways of performing a project.
- Project selection methods are used by executive managers to determine things such as public perception, financial return, customer loyalty, and so on, and are used only to choose among alternative projects.
Project selection methods are used prior to the Develop Project Charter process to choose which projects the organization should undertake or to choose among alternative ways of doing a project. According to the PMBOK® Guide, the project manager is not involved in project selection.
A functional manager hosted a celebration for the project team to reward them for a job well done that led to the successful completion of a major project. It was clear to the project manager that the team was relaxed and enjoying themselves, with some talking about upcoming vacation plans. What type of organizational structure does the project team likely work within?
Strong matrix Project-oriented Weak matrix PMO
Teams working in a weak matrix organization tend to experience the least amount of stress during the Closing processes. This is because, in a weak matrix organization, the functional manager assigns all tasks (project-related tasks as well) so the team members have a job to return to once the project is completed and there’s no change in reporting structure.
Which organizational process asset should you consider when closing out a project or phase?
- Configuration management knowledge base
- Financial management and accounts payable system
- Marketplace conditions
- Procurement policies
Marketplace conditions and financial management and accounts payable systems are examples of enterprise environmental factors versus organizational process assets. When performing the Close Project or Phase process, project or phase closure guidelines or requirements, along with the configuration management knowledge base, serve as valuable inputs. The configuration management knowledge base contains versions and baselines of standards, policies, procedures, and project documents belonging to the organization.
Reasons to Lyv is the top client of a large marketing firm. Trudy is the president of Reasons to Lyv and has decided to launch a product that leverages new GPS tracking technology. She has high confidence that the project will be a success and asks the marketing firm to make it their top priority by generating a unique campaign that will run in parallel with her project. Billy, a top executive from the marketing company, briefs his team about this unique situation that they have not managed before, and a project is launched shortly thereafter. Trudy’s project came about as a result of what?
Technological advance Customer request Strategic opportunity Environmental considerations
Because Reasons to Lyv is attempting to exploit new GPS technology that is available, the project is a result of technological advance.
All of the following are true regarding the Code of Ethics and Professional Conduct except for which one?
Adhering to the code is mandatory for PMI members. It contains core values that project management practitioners are highly advised to uphold. It addresses responsibility, honesty, respect, and fairness. Values identified in the code stem from practitioners from the global project management community.
The Code of Ethics and Professional Conduct addresses core values that project management practitioners should and must uphold. Specifically, it applies to all PMI members, PMI volunteers, those certified through PMI, and those going through the PMI certification process.
You are the project manager of a construction company that is working on a project to build a new community of townhomes. A vendor that is bidding on the electrical contract for the project knows you are a big fan of your favorite comedian and sends you two tickets to attend a show. You know that the tickets are expensive, valued at more than $500 based on the location of the seats. What should you do?
Select one Mark question
Accept the tickets since you already accepted another gift from a separate vendor competing for the same contract.
Accept the tickets, but take the project sponsor, who is also a fan of the comedian.
Respectfully decline the gift but keep the tickets for evidence.
Respectfully decline the gift and send back the tickets.
Don’t accept gifts that might be construed as conflicts of interest. If your organization does not have a policy regarding vendor gifts, set limits for yourself depending on the situation, the history of gift acceptance by the organization in the past, and the complexity of the project. It’s always better to decline a gift you’re unsure about than to accept it and later lose your credibility, your reputation, or your PMP status because of bad judgment.
You are a project manager working on contract. As your project comes to a close, your contract completes, and you find yourself out of work. What type of organizational structure did you work in? Select one Mark question Functional Strong matrix Project-oriented Weak matrix
In a project-oriented organization, the project team is dedicated to the project. When a project is complete, they either transition to another project or are released.
Who is chartered with the authority to approve or deny change requests as defined by the organization? Select one Mark question Project sponsor Change control board Executive team Project manager
The change control board is officially chartered and given the authority to approve or deny change requests as defined by the organization and as outlined within the project management plan. The authority level (including exception or emergency process) should be detailed within the project management plan
All of the following are true regarding the Code of Ethics and Professional Conduct except for which one?
Select one Mark question
Values identified in the code stem from practitioners from the global project management community.
It contains core values that project management practitioners are highly advised to uphold.
It addresses responsibility, honesty, respect, and fairness.
Adhering to the code is mandatory for PMI members.
The Code of Ethics and Professional Conduct addresses core values that project management practitioners should and must uphold. Specifically, it applies to all PMI members, PMI volunteers, those certified through PMI, and those going through the PMI certification process.
Functional (centralized), matrix, and project-oriented are all types of which of the following? Select one Mark question Communication styles Organizational structures Organizational cultures Project characteristics
Organizational structures are the forms that an organization can take and their influence on projects. They describe the style, culture, and way of communicating that influence how project work is performed.
You work in the pharmaceutical industry, and your organization is considering building a new laboratory facility in the Northwest. Market demand is driving new research for diet medications, and the new lab would be dedicated to this product development project. Some stakeholders in your organization are not certain a new lab facility is needed because there is space that can be used in an existing building to host the diet medication research project. You’ve conducted a feasibility study, and the results show two possible ways to meet the space needs. Which of the following is true regarding this situation?
Select one Mark question
Project selection methods are used by executive managers to determine things such as public perception, financial return, customer loyalty, and so on, and are used only to choose among alternative projects.
Project selection methods are concerned with the type of things executive managers think about, such as public perception, financial return, customer loyalty, and market share.
Project selection methods are an output of an Initiating group process that can be used to choose among alternative ways of doing a project. Project managers are generally involved with selecting among alternative projects.
Project selection methods are used before the Develop Project Charter process to choose among alternative ways of performing a project.
Project selection methods are used prior to the Develop Project Charter process to choose which projects the organization should undertake or to choose among alternative ways of doing a project. According to the PMBOK® Guide, the project manager is not involved in project selection.
Which organizational process asset should you consider when closing out a project or phase?
Select one Mark question
Financial management and accounts payable system
Configuration management knowledge base
Marketplace conditions
Procurement policies
Marketplace conditions and financial management and accounts payable systems are examples of enterprise environmental factors versus organizational process assets. When performing the Close Project or Phase process, project or phase closure guidelines or requirements, along with the configuration management knowledge base, serve as valuable inputs. The configuration management knowledge base contains versions and baselines of standards, policies, procedures, and project documents belonging to the organization.
As part of project integration management activities, a project manager reports on value achieved to date against the plan. What does the project manager hope to accomplish by carrying out this activity?
Select one Mark question
Appraise stakeholders of the project’s progress against the benefits management plan
Appraise stakeholders of the project’s progress against the project management plan
Appraise stakeholders of the project’s progress against the product backlog
Appraise stakeholders of the project’s progress against the program management plan
The benefits management plan outlines the target benefits of the project and is used to measure both the tangible and intangible benefits. As part of project integration management activities, project managers should report progress against this plan to project stakeholders.
Which of the following best describes PMI?
Select one Mark question
A for-profit organization that focuses on project, program, and portfolio management
A nonprofit organization that focuses on project, program, and portfolio management
The industry-recognized standard for project management practices
The industry-recognized standard within the United States for project management practices
The Project Management Institute is the industry-recognized standard for project management practices. PMI is active and recognized around the globe, although it is headquartered within the United States.
Antwon, the director of marketing, approaches you to tell you about the latest idea he had for a new phone app that he called Project UV2. Since he was the brain behind the company’s top-selling app, you take him seriously. He notes that his idea involves enhancing the existing UV app by improving the backend to sit on technology that the company recently rolled out, thereby making response time faster. The backend changes would not affect the phone app functionality, nor would they require any new configurations to be made. This is considered to be which of the following? Select one Mark question A secondary phase of Project UV Ongoing operation A project A program
Projects exist to create a unique product, service, or result. What the director in the scenario describes is shifting the backend of an existing app to technology that also already exists within the company. This would reflect operations, which are considered to be ongoing and repetitive, versus the creation of new capabilities.
Which of the following project selection methods is considered to be the least precise? Select one Mark question Net present value Benefit-cost ratio Payback period Scoring models
Payback period is considered to be the least precise project selection method.
You work in an organization that is considered to be a project-oriented organizational type. What is an advantage of working in this type of organization?
Select one Mark question
You are a part-time project manager and can straddle two roles.
You have unlimited access to funds.
You have high to almost total access to resources.
You have job and role stability.
Within a project-oriented organization, the project manager has a high degree of authority, and projects are treated with priority. A project manager has high to almost total resource access/availability, since team members are often dedicated to the project.
