Exam 2: Project Selection and Prioritization

A project portfolio is a useful storage medium that enables the project manager to consolidate all project information in a single,convenient location.

Which of the following is NOT a typical source selection criterion that an organization would use to evaluate potential contractors?

Payback period models do not consider the amount of profit that may be realized after the costs are paid.

Once selected projects have been prioritized,it is time to assign resources to projects based on their order of priority.Resources could include all of the following EXCEPT:

Strategic analysis is an important first step in setting strategic direction.

The vision should present a positive,inspiring and vivid description of the organization as it currently exists.

In addition to considering financial factors,project selection should often consider how well each project fits with the organization's strategic planning.

Strategic objectives describe both long and short term results that are desired,along with measures to determine their achievement.

All of the following factors influence the opportunities and threats an organization must consider when performing a strategic analysis EXCEPT:

If an organization does not have the right capabilities,a project may be too difficult to complete successfully.

All of the following represent appropriate sources to identify new potential projects EXCEPT:

The organization's leadership should establish the strategic objectives to set the stage for the strategic analysis.

Strategic objectives should focus decisions regarding which projects to select and how to prioritize them.

The prioritization of projects in a portfolio should consider whether the demands of performing each project are clearly understood.

Describe the relationship between the strategic planning process and portfolio management in an organization.

Portfolios deal with all of an organization's projects,while programs deal with:

Figure 2-1 Project Selection and Prioritization Matrix -Based on the information provided in Figure 2-1,which project is least attractive based on the strategic fit?

Projects tend to be the primary method for implementing many objectives.

The internal part of strategic analysis considers opportunities and threats posed by competitors,suppliers and regulatory agencies among others.

The document that describes why the project is needed,and may include estimated costs and benefits,is called a: