Liberty BUSI 313 Quiz 1 – Corporate downsizing has increased
BUSI 313 Quiz 1 Liberty University Complete Answers
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1. Corporate downsizing has increased the trend toward
A. Reducing the number of projects a company initiates.
B. Outsourcing significant segments of project work.
C. Using dedicated project teams. **
D. Shorter project lead times.
E. Longer project lead times.
Answer: Outsourcing significant segments of project work.
2. Because of its flexibility, project management is equally useful in ongoing, routine work as well as unique, one time projects.
3. In the _____________ stage of the project life cycle you are more likely to find status reports, changes, and the creation of forecasts.
4. Successful project managers focus primarily on technical dimensions of project management, which include planning, scheduling, and controlling projects.
5. Which of the following is typically the responsibility of a project manager?
A. Meeting budget requirements
B. Meeting schedule requirements
C. Meeting performance specifications
D. Coordinatingethe actions of the team members
E. All of these are typical responsibilities
Answer: All of these are typical responsibilities
6. The sociocultural dimension of project management includes managing relationships, motivating team members and negotiating project terms.
7. Small business development is a major driver of project management.
8. Which of the following statements is true?
A.Project management is far from a standard way of doing business
B. Project management is increasingly contributing to achieving organizational strategies
C. Project management is beingusedat a consistent percentage of a firm’s efforts
D.Project management is a specialty that feworganizations have accessto
E. All of these statements are false
Answer: Project management is increasingly contributing to achieving organizational strategies
9. Studies have shown that companies using predominantly financial criteria to prioritize projects yield unbalanced portfolios and projects that aren’t strategically aligned.
10. 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.
Answer: How do we operate in the existing environment?
11. All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT
A. Demonstrate to senior management how their project contributes to the firm’s mission.
B. Explain to team members why certain project objectives and priorities are critical.
C. Explain to stakeholders why certain project objectives and priorities are critical.
D. Be able to respond appropriately to delays and/or questions about product design.
E. Be able to focus on problems or solutions, even if the project is a low priority strategically.
Answer: Be able to focus on problems or solutions, even if the project is a low priority strategically.
12. The NPV financial model measures the time it will take to recover the project investment.
13. Organizational objectives set targets for all levels of the organization not just for top management.
14. One who endorses and lends political support for the completion of a specific project is known as the
A. Project manager
C. Project sponsor
D. Project lead
E. Sacred cow
A project sponsor is a group or person that is the rightful owner of a specific project and is responsible for managing daily activities as well as providing resources and other materials in order to make the project successful. The project sponsor also shares the profit in the success of the project. Thus “project sponsor” is the correct option.
18. Which of the following cultural characteristics relates to the degree to which management focuses on outcomes rather than on techniques and processes used to achieve those outcomes?
A. Managerial focus
B. Team emphasis
C. Control Member identity
D. Unit integration
Answer: Team emphasis
19. The projectized form of project management structure is commonly used when one functional area plays a dominant role in completing the project or has a dominant interest in the success of the project.
20. Member identity refers to the degree to which work activities are organized around groups rather than individuals.
21. A project team that operates with a fulltime project manager as a separate unit from the rest of the organization is structured using ________ organization.
B. Balanced matrix
C. Weak matrix
D. Strong matrix
22. Generally, the more autonomy and authority the project manager and the project team need to be successful, the more appropriate to implement either a dedicated project team or a strong project management structure.
23. The matrix form of project management is notable for the tension it creates between functional managers and project managers who both bring critical expertise and perspectives to the project.
24. Which of the following combinations represents the extremes of project organization?
A. Strong matrix and balanced matrix
B. Functional and projectized
C. Projectized and balanced matrix
D. Projectized and strong matrix
E. Strong matrix and functional
Answer: Functional and projectized
25. Bill is working on a project involving the upgrading of a management information system. The project is being managed by the information systems department with the coordination of other departments occurring through normal channels. He is working in a _________ organization.
B. Balanced matrix
C. Weak matrix
D. Strong matrix
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