Exam 2: Strategic Management and Project Selection

Real options seek to reduce which of the following risks in projects?

______ is a modeling technique for emulating a process,usually conducted a considerable number of times to understand the process better and measure its outcomes under different policies.

Firms usually have two or more projects and this collection of projects is referred to as __________.

Which of the following is a type of numeric model?

Project Boulder has a payback period of 2.4 years,an NPV of $10,000,and a profitability index of 1.10.Project Flintstone has a payback period of 3.0 years,an NPV of $10,000 and a profitability index of 1.05.If only one project can be executed,which project should be selected? Explain your reasoning.

Explain the difference between risk and uncertainty.

For a project selected using nonnumeric models,identify the true statement regarding relative priorities for project selection.

The mastery of the skills required to manage projects competently is referred to in the literature as __________.

A project selected using the sacred cow model is likely to be maintained until successfully completed or until __________.

A project selection criteria that focuses on environmental and social issues is

The process of "carving away the unwanted reality from the bones of a problem" is called __________.

The drawback of the __________ model is that it fails to consider cash flows obtained once the initial investment has been recovered.

The underlying premise of the real options approach is that __________.

__________ is the process of evaluating individual projects or groups of projects,and then choosing to implement some set of them so that the objectives of the parent organization will be achieved.

In a project portfolio,__________ projects have objectives or deliverables that are only incrementally different in both product and process from existing offerings.

Which of the following is NOT an advantage that favors the use of weighted scoring models?

Explain why it is necessary for the project manager to understand the reasons leading to the selection of a project.

If a system is being updated due to operating necessity,the project was selected because__________.

The __________is the value of an opportunity foregone.

The Åstebro study (2004)of R&D projects found that all the characteristics below were excellent predictors of project commercial success,EXCEPT __________.