it proj

Question 1

determines how much time will lapse before accrued benefits overtake accrued and continuing costs

Answer 1

Payback analysis

Question 2

is a management approach that focuses on creating more value for customers by eliminating waste and optimizing processes.

Answer 2

Lean Project Portfolio Management

Question 3

is a methodology that converts an organization’s value drivers—such as customer service, innovation, operational efficiency, and financial performance—to a series of defined metrics

Answer 3

balanced scorecard

Question 4

Projects that help increase revenues

Answer 4

Growth

Question 5

Many organizations prioritize projects as being high, medium, or low priority based on the current business environment

Answer 5

Project Priority

Question 6

is a tool that provides a systematic process for selecting projects based on many criteria

Answer 6

weighted scoring model

Question 7

One person or group can be responsible for similar work, such as obtaining all the permits for all the houses

Answer 7

Save time

Question 8

The IT projects are broken down into three categories: what are those?

Answer 8

Venture
Growth
Core

Question 9

TRUE/FALSE: The goal of project portfolio management is to help maximize business value to ensure enterprise success

Answer 9

TRUE

Question 10

template file that is available for calculating NPV, ROI, and payback for a project.

Answer 10

business case financials

Question 11

you can use to create the chart, if needed.

Answer 11

payback period chart

Question 12

who developed another approach to help select and manage projects that align with business strategy

Answer 12

Dr. Robert Kaplan and Dr. David Norton

Question 13

are chances to improve the organization

Answer 13

Opportunities

Question 14

are undesirable situations that prevent an organization from achieving its goals - can be current or anticipated

Answer 14

Problems

Question 15

A construction firm can purchase materials, obtain services, and hire workers for less money if it is managing the construction of one hundred houses instead of just one house

Answer 15

Save money

Question 16

The program manager can use authority in multiple situations, such as negotiating better prices with suppliers and obtaining better services in a more timely fashion

Answer 16

Increase authority

Question 17

Recall that a program is a group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually

Answer 17

Program Selection

Question 18

TRUE/FALSE: Organizations should not always focus on high-priority projects

Answer 18

TRUE; Organizations should always focus on high-priority projects

Question 19

Projects that help run the business

Answer 19

Core

Question 20

is the amount of time it will take to recoup—in the form of net cash inflows—the total dollars invested in a project

Answer 20

Payback period

Question 21

are new requirements or regulations imposed by management, government, or some external influence

Answer 21

Directives

Question 22

Projects that help transform the business

Answer 22

Venture

Question 23

TRUE/FALSE:
The shorter the payback period, the better

Answer 23

TRUE

Question 24

Another approach to project selection is based on the time it will take to complete a project or the date by which it must be done

Answer 24

Project Time Frame