Deck 5: The Owner Domain

Question 1

It is only in shaping the project strategy phase that the owner plays the key role.

Answer 1

False

Question 2

Any organization which invests in the development of a new facility such as a factory, in the development of a new product such as an app, or attempts to change the way it works through a formal organizational change process is:

A) Project owner
B) Research & Development
C) Business developer
D) Government

Answer 2

A

Question 3

Different owners have very different purposes, and these different purposes significantly shape the criteria against which they shape their investment projects.

Answer 3

True

Question 4

The ability to operate resources efficiently and effectively can be defined as:

A) Owner project capability
B) Operational capability
C) Innovation capability
D) Dynamic capability

Question 5

Owners of the project could be:

A) Investors
B) Operators of the asset
C) Government
D) All of the above

Question 6

The situation when decision makers within the owner domain are systematically biased towards the over-estimation of the benefits of a project and an underestimation of the costs of a project is called:

A) Dynamic uncertainty
B) Strategic misrepresentation
C) Optimism bias
D) Wrong estimation

Question 7

The use of formal analysis to define the value proposition is an important source of sense making material for project leaders and helps to identify vanity projects of various kinds.

Question 8

Any group or individual who can affect or is affected by the achievement of the project mission:

A) Project shareholders
B) External stakeholders
C) Internal stakeholders
D) Project stakeholders

Question 9

Only a capable owner can effectively shape the project mission, see it through delivery of the project outputs and then realize the benefits desired for the project outcomes.