BUSI682 midterm
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· Question 1
4
out of 4 points
Formal
project planning begins after project signoff.
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· Question 2
4
out of 4 points
A cultural
audit is a way to determine how culture may be an advantage or a challenge.
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· Question 3
4
out of 4 points
Project scope
is the what of the project and the product scope is the how of the project.
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· Question 4
4
out of 4 points
Projects that
aim to increase operational efficiency, capacity, and improved process
quality provide tactical value.
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· Question 5
4
out of 4 points
Albeit
anecdotal, most projects fail due to communication problems and lack of
understanding.
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· Question 6
4
out of 4 points
Project
leaders can talk about their projects and what they need to do next, but project
managers need to be able to communicate how their projects deliver value.
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· Question 7
4
out of 4 points
In a low
context culture, one must be prepared for rational, professional arguments,
and presentations that push for agreements.
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· Question 8
4
out of 4 points
66% of
projects fail because the team leaders and team members do not manage the
interaction with global participants skillfully.
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· Question 9
4
out of 4 points
Formal
project portfolio management tends to reside in companies that have a
decentralized project management office (PMO) and an institutionalized
project management organization.
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· Question 10
4
out of 4 points
Communication
is defined as the process by which persons share information meanings and
feelings through the exchange of verbal and nonverbal messages.
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· Question 11
4
out of 4 points
Communication
always means understanding. Even when two individuals agree that they are
communicating or talking to each other, it means that they understand each
other.
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· Question 12
4
out of 4 points
In a
predictability –oriented culture, one needs to be prepared for vagueness in
communication.
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· Question 13
4
out of 4 points
Strategy, at
its essence, is the process of formulating a set of objectives and then
deciding on how we will achieve the objectives.
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· Question 14
4
out of 4 points
The project
vision describes what’s in it for those who receive the benefits of the
project deliverables and what’s in it for those who receive the benefits of
the project deliverables and what’s in it for those doing the project work.
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· Question 15
4
out of 4 points
Transferring
risk is more likely to protect financial interests that ensure the success of
the project.
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· Question 16
4
out of 4 points
The ability
to seek understanding by understanding cultural differences and being willing
to view project interactions and communications through another’s lens
separates global project leaders from otherwise highly capable project
managers.
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· Question 17
4
out of 4 points
A strategic
project manager’s mindset begins with the realization that we have too many
people and not enough project ideas, and budget to act on every idea for new
project or initiative.
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· Question 18
4 out
of 4 points
Power
distance indicates “the extent to which a society accepts that power in
institutions and organizations is distributed equally”.
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· Question 19
4
out of 4 points
One of the
goals in project risk management is to push more unknown unknowns to known
unknowns.
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· Question 20
4
out of 4 points
Estimates
carry uncertainty; therefore, it is essential to seek as much expertise and
past data as possible when making schedule and cost estimates.
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· Question 21
4
out of 4 points
It is
important to recognize that it may take longer to make decisions in
uncertainty tolerant cultures.
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· Question 22
4
out of 4 points
The essence
of the strategic project management mindset is to realize that emphasis on
the project itself is more important than strategy.
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· Question 23
4
out of 4 points
Masculinity
implies “the extent to which the dominant values in society are
assertiveness, money and material things, not caring for others, quality of
life, and people”.
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· Question 24
4
out of 4 points
In essence,
all forms of value ultimately contribute to the strategic value of a firm.
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· Question 25
4
out of 4 points
Ultimately,
the extend of risk management deployed depends on risk tolerance and
awareness of the potential upside impacts of risks.
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· Question 26
4
out of 4 points
Financial
data gathered during the execution of a project can be used to determine whether
or not the project is within the budget and on schedule.
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· Question 27
4
out of 4 points
Successful
organizations invest time in detailed project planning and spend a
disproportionate amount of time rethinking project scope and reacting to
events.
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· Question 28
4
out of 4 points
Projects for
a bridge between strategy and results.
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· Question 29
4
out of 4 points
Professional
or intentional project managers far outnumber accidental project managers.
Most people managing projects and initiatives originally intended to be
project managers.
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· Question 30
0
out of 4 points
Gathering
data from prior similar projects and relying on experienced estimators will
not go a long way toward avoiding schedule surprises.
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· Question 31
4
out of 4 points
Projects
contributing to a great deal of strategic and financial value merit more risk
assessment than those delivering little value.
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· Question 32
4
out of 4 points
Successful
leaders of global projects must not be ethnocentric.
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· Question 33
4
out of 4 points
A project is
a temporary endeavor aimed at achieving some unique set of outcomes that meet
or exceed the needs and expectations of key project stakeholders.
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· Question 34
4
out of 4 points
Relationships
are generally subordinate to schedules in polychromic cultures.
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· Question 35
4
out of 4 points
Executives,
managers, and subject matter experts working in multinational organizations
spend less than75% of their time working on a portfolio of large and small
projects and initiatives with extensive cross-functional and cross-cultural
collaboration.
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· Question 36
4
out of 4 points
There is a
body of research that suggests that a person’s stereotypes “may contain an
element of truth”.
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· Question 37
4
out of 4 points
Budget and
human resources constrain most projects.
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· Question 38
4 out
of 4 points
Net present
value (NPV) is simply a number that takes into account the time value of
discounted cashflows, both expenses and returns, over a given period of time
such as 5 years.
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· Question 39
4
out of 4 points
Scope creep
refers to the tendency to add to the scope of the project over time.
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· Question 40
4
out of 4 points
Constraints
are any factors that limit our options in pursuing the project objectives.
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· Question 41
4
out of 4 points
Projects done
for environmental and safety reasons or to comply with government regulations
fall under the category of compliance value.
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· Question 42
4
out of 4 points
Doing some
detailed risk assessment during scope planning is irrelevant and unbeneficial
as thoughts about what could go wrong stem from what needs to be done and how
it needs to be done.
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· Question 43
4
out of 4 points
When
estimating how long any piece of work will take, availability of resources,
skill levels, and the experience of those who provide the estimates are key
factors to consider.
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· Question 44
4
out of 4 points
Six Sigma
initiatives, new production plants, offshoring, shared services, and similar
projects provide tactical value.
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· Question 45
4
out of 4 points
Low context
cultures are characterized by respect for a person’s title, age, and
background connections
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· Question 46
4
out of 4 points
Culture is
learned and individuals from the same culture have exactly the same learning
experiences.
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· Question 47
4
out of 4 points
Uncertainty
avoidance indicates “the extent to which a society feels threatened by
uncertain or ambiguous situations.
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· Question 48
4
out of 4 points
Leaders of
global projects need to develop the skill of looking at important
projects/issues through “multiple lens” not just their own lens.
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· Question 49
4
out of 4 points
In a
monochromic culture, it is important to keep appointments strictly, schedule
in advance, and not to run late.
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· Question 50
4
out of 4 points
A negative
net present value (NPV) is generally unacceptable, especially in compliance
projects in which the return of the project is penalty avoidance.
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