Strategic Management
Exam Answer Key
Course Introduction
Strategic Management is a comprehensive course that explores the formulation, implementation, and evaluation of strategies that enable organizations to achieve long-term objectives and maintain competitive advantage. Students will learn to analyze internal and external environments, identify strategic opportunities and threats, and develop action plans that align with organizational goals. The course covers key concepts such as vision and mission development, industry and competitor analysis, resource-based views, business-level and corporate-level strategies, and strategic leadership. Practical case studies and simulations are utilized to help students apply theoretical frameworks to real-world business challenges, preparing them for effective decision-making in dynamic environments.
Recommended Textbook
Introduction to Project Management 2nd Edition by Kathy Schwalbe
Available Study Resources on Quizplus 8 Chapters
653 Verified Questions
653 Flashcards
Source URL: https://quizplus.com/study-set/1895
Page 2
Chapter 1: An Introduction to Project, program, and Portfolio Management
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75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/37825
Sample Questions
Q1) PMI provides certification as a(n)____________________-someone who has documented sufficient project experience and education,agreed to follow the code of ethics and professional conduct,and demonstrated knowledge of the field of project management by passing a comprehensive examination.
Answer: Project Management Professional PMP
Project Management Professional (PMP) (PMP)Project Management Professional
Q2) Projects typically finish according to the discrete scope,time,and cost goals originally set.
A)True
B)False
Answer: False
Q3) ____ provide basic project management features and generally cost less than $200 per user.
A) Basic productivity software packages
B) Low-end tools
C) Midrange tools
D) High-end tools
Answer: B
Page 3
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Chapter 2: Project, program, and Portfolio Selection
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75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/37826
Sample Questions
Q1) Three primary methods for determining the projected financial value of projects include net present value analysis,return on investment,and ____ analysis.
A) growth
B) payback
C) environmental impact
D) efficiency
Answer: B
Q2) The main goal of programs is to obtain benefits and control not available from managing projects separately.
A)True
B)False
Answer: True
Q3) In portfolio management the "____" task should occur first.
A) prioritize projects on a list
B) apply modern portfolio theory
C) divide projects into investment categories
D) put all projects in one list
Answer: D
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Chapter 3: Initiating Projects
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75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/37827
Sample Questions
Q1) Global Construction believed they could reduce training costs and improve productivity by successfully implementing a project to provide ____ training on key topics.
A) just-in-time
B) feedback
C) iterative
D) phase
Answer: A
Q2) Because the purpose of project management is to meet project requirements and satisfy stakeholders,it is critical that project managers take adequate time to identify,understand,and manage relationships with all project ____.
A) sales
B) engineering
C) purchasing
D) stakeholders
Answer: D
Q3) ____________________ project stakeholders generally include the project sponsor,project team,support staff,and internal customers for the project.
Answer: Internal
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Page 5
Chapter 4: Planning Projects, part I Project Integration, scope,
time, and Cost Management
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/37828
Sample Questions
Q1) Identify and describe the four types of dependencies,or relationships,between activities.
Q2) A(n)____________________ is a starting point,a measurement,or an observation that is documented so that it can be used for future comparison.
Q3) The format of the WBS dictionary can vary based on project needs.
A)True
B)False
Q4) The main output of scope planning is a ____ management plan,which is a document that includes descriptions of how the team will prepare the scope statement,create the WBS,verify completion of the project deliverables,and control requests for changes to the project scope.
A) scope
B) project
C) program
D) portfolio
Q5) Every item on a WBS needs to be on the network diagram.
A)True
B)False
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Q6) The main output of scope definition is the scope ____________________.
Chapter
Resource, communications, risk, and Procurement Management
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92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/37829
Sample Questions
Q1) Which of the following is a key output of project procurement management planning?
A) quality metrics
B) quality checklists
C) contract statements of work
D) project Web site
Q2) Examples of common ____ used by organizations include failure rates of products produced,availability of goods and services,and customer satisfaction ratings.
A) metrics
B) analytics
C) requirements
D) guidelines
Q3) The WBS for the Just-In-Time Training project included an item called ____ communications to ensure good project communications.
A) shareholder
B) sponsor
C) global
D) stakeholder
7
Q4) A(n)____________________ is a standard of measurement.
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Chapter 6: Executing Projects
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96 Verified Questions
96 Flashcards
Source URL: https://quizplus.com/quiz/37830
Sample Questions
Q1) A contract is a mutually binding agreement that obligates the seller to provide the specified products or services,and obligates the buyer to pay for them.
A)True
B)False
Q2) Explain how certain forms of conflict can actually improve team performance.
Q3) The main output of information ____________________ is updating business processes through improved communications.
Q4) Research poses the theory that in a face-to-face interaction,____ percent of communication is through body language.
A) 12
B) 35
C) 58
D) 85
Q5) The final output of the seller selection process is a ____.
A) bid
B) contract
C) charter
D) proposal
Q6) ____________________ is a relationship of harmony,conformity,accord,or affinity.
Page 8
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Chapter 7: Monitoring and Controlling Projects
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) The main tool for performing scope verification is ____.
A) random sampling
B) statistical estimation
C) inquiry
D) inspection
Q2) Provide a definition for a control chart and describe how control charts are used.
Q3) A(n)____ chart displays the history and pattern of variation of a process over time.
A) control
B) scatter
C) organizational
D) run
Q4) ____________________ change control involves identifying,evaluating,and managing changes throughout the project's life cycle.
Q5) A contractual relationship is a legal relationship and,as such,is subject to state and federal contract laws.
A)True
B)False
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Page 9
Chapter 8: Closing Projects and Best Practices
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50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/37832
Sample Questions
Q1) The last task in project integration management is ____________________ the project.
Q2) Assigning a project manager from operations to lead projects that affect operations is considered to be a best practice.
A)True
B)False
Q3) ____________________ closure procedures should define the approval process for all project deliverables.
Q4) Outputs from ____ closure include updates to organizational process assets and closed contracts.
A) project
B) training
C) charter
D) contract
Q5) What exercise regimen does Rosabeth Moss Kanter recommend for business leaders who want to intelligently adapt best practices to help their own organizations?
Q6) Identify and describe four program best practices.
Q7) ____________________ are incremental steps that lead to best practices.
Page 10
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