Module 2

Question 1

Implementation Gap

Answer 1

Differences between what is intended and what is delivered, upper and middle management lack consensus

Question 2

Organization Politics

Answer 2

Use of power and influence within an organization to achieve personal/group success, usually at the expense of others

Question 3

Sacred Cow

Answer 3

A powerful, high ranking official is advocating for a specific project

Question 4

Payback Period

Answer 4

Time it takes for an investment to recover its initial investment through cash inflows

Question 5

Net Present Value NPV

Answer 5

Used to evaluate profitability of an investment by calculating the PV of cash inflows and outflows over a specific period

Question 6

Phase Gate Model

Answer 6

Series of gates a project must pass through to complete, each gate represents a decision point that will result in:
1. Go
2. Kill
3. Recycle

Question 7

Strategic Management

Answer 7

Process of assessing “what we are” and deciding and implementing “what we intend to be and how we are going to get there”

Question 8

Project Sponsor

Answer 8

Individual in the organization that supports, funds, and advocates for a project

Question 9

Priority System

Answer 9

Framework to rank tasks based on importance

Question 10

Priority Team

Answer 10

Specialized group usually tasked with handing high priority tasks/projects

Question 11

Project Portfolio

Answer 11

Collection of projects/programs/operational work used to achieve strategic business goals