MGT 6655 QUIZ 1 2 4 5 6 BUNDLE ACTUAL
EXAM PAPER 2026 QUESTIONS WITH
COMPLETE SOLUTIONS GRADED A+
⩥ The major characteristics of a project are as follows. Answer: 1. An
established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of several departments and professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.
⩥ A program. Answer: is a group of related projects designed to
accomplish a common goal over an extended period of time.
⩥ Program Management. Answer: Program management is the process
of managing a group of ongoing, interdependent, related projects in a
coordinated way to achieve strategic objectives.
,⩥ Project Life Cycle. Answer: The stages found in all projects—
definition, planning, execution, and delivery.
⩥ Project Life Cycle - Defining Stage:. Answer: Specifications of the
project are defined; project objectives are established; teams are formed;
major responsibilities are assigned.
⩥ Project Life Cycle - Planning Stage:. Answer: The level of effort
increases, and plans are developed to determine what the project will
entail, when it will be scheduled, whom it will benefit, what quality level
should be maintained, and what the budget will be.
⩥ Project Life Cycle - Executing Stage:. Answer: A major portion of the
project work takes place—both physical and mental. The physical
product is produced (a bridge, a report, a software program). Time, cost,
and specification measures are used for control. Is the project on
schedule, on budget, and meeting specifications? What are the forecasts
of each of these measures? What revisions/changes are necessary?
⩥ Project Life Cycle - Closing Stage:. Answer: Closing includes three
activities: delivering the project product to the customer, redeploying
project resources, and post-project review.
⩥ A 6 month project delay can result in a _____ percent loss in product
revenue share.. Answer: 33%
,⩥ Triple Bottom Line:. Answer: Planet, People, Profit
⩥ Strategic Management:. Answer: The process of assessing "what we
are" and deciding and implementing "what we intend to be and how we
are going to get there."
⩥ Two major dimensions of strategic management:. Answer: responding
to changes in the external environment and allocating scarce resources
of the firm to improve its competitive position.
⩥ Four Activities of the Strategic Management Process:. Answer: 1.
Review and define the organizational mission.
2. Analyze and formulate strategies.
3. Set objectives to achieve strategy.
4. Implement strategies through projects.
⩥ SWOT analysis. Answer: strengths, weaknesses, opportunities, threats
⩥ Characteristics of objectives - SMART:. Answer: Specific,
Measurable, Assignable, Realistic, Time related
, ⩥ Project priority system. Answer: The process used to select projects.
The system uses selected criteria for evaluating and selecting projects
that are strongly linked to higher level strategies and objectives.
⩥ Project portfolio. Answer: Group of projects that have been selected
for implementation balanced by project type, risk, and ranking by
selected criteria.
⩥ Implementation gap. Answer: The lack of consensus between the
goals set by top management and those independently set by lower
levels of management. This lack of consensus leads to confusion and
poor allocation of organization resources.
⩥ Symptoms of organizations struggling with strategy disconnect:.
Answer: 1. Conflicts frequently occur among functional managers and
cause lack of trust.
2. Frequent meetings are called to establish or renegotiate priorities.
3. People frequently shift from one project to another, depending on
current priority. Employees are confused about which projects are
important.
4. People are working on multiple projects and feel inefficient.
EXAM PAPER 2026 QUESTIONS WITH
COMPLETE SOLUTIONS GRADED A+
⩥ The major characteristics of a project are as follows. Answer: 1. An
established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of several departments and professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.
⩥ A program. Answer: is a group of related projects designed to
accomplish a common goal over an extended period of time.
⩥ Program Management. Answer: Program management is the process
of managing a group of ongoing, interdependent, related projects in a
coordinated way to achieve strategic objectives.
,⩥ Project Life Cycle. Answer: The stages found in all projects—
definition, planning, execution, and delivery.
⩥ Project Life Cycle - Defining Stage:. Answer: Specifications of the
project are defined; project objectives are established; teams are formed;
major responsibilities are assigned.
⩥ Project Life Cycle - Planning Stage:. Answer: The level of effort
increases, and plans are developed to determine what the project will
entail, when it will be scheduled, whom it will benefit, what quality level
should be maintained, and what the budget will be.
⩥ Project Life Cycle - Executing Stage:. Answer: A major portion of the
project work takes place—both physical and mental. The physical
product is produced (a bridge, a report, a software program). Time, cost,
and specification measures are used for control. Is the project on
schedule, on budget, and meeting specifications? What are the forecasts
of each of these measures? What revisions/changes are necessary?
⩥ Project Life Cycle - Closing Stage:. Answer: Closing includes three
activities: delivering the project product to the customer, redeploying
project resources, and post-project review.
⩥ A 6 month project delay can result in a _____ percent loss in product
revenue share.. Answer: 33%
,⩥ Triple Bottom Line:. Answer: Planet, People, Profit
⩥ Strategic Management:. Answer: The process of assessing "what we
are" and deciding and implementing "what we intend to be and how we
are going to get there."
⩥ Two major dimensions of strategic management:. Answer: responding
to changes in the external environment and allocating scarce resources
of the firm to improve its competitive position.
⩥ Four Activities of the Strategic Management Process:. Answer: 1.
Review and define the organizational mission.
2. Analyze and formulate strategies.
3. Set objectives to achieve strategy.
4. Implement strategies through projects.
⩥ SWOT analysis. Answer: strengths, weaknesses, opportunities, threats
⩥ Characteristics of objectives - SMART:. Answer: Specific,
Measurable, Assignable, Realistic, Time related
, ⩥ Project priority system. Answer: The process used to select projects.
The system uses selected criteria for evaluating and selecting projects
that are strongly linked to higher level strategies and objectives.
⩥ Project portfolio. Answer: Group of projects that have been selected
for implementation balanced by project type, risk, and ranking by
selected criteria.
⩥ Implementation gap. Answer: The lack of consensus between the
goals set by top management and those independently set by lower
levels of management. This lack of consensus leads to confusion and
poor allocation of organization resources.
⩥ Symptoms of organizations struggling with strategy disconnect:.
Answer: 1. Conflicts frequently occur among functional managers and
cause lack of trust.
2. Frequent meetings are called to establish or renegotiate priorities.
3. People frequently shift from one project to another, depending on
current priority. Employees are confused about which projects are
important.
4. People are working on multiple projects and feel inefficient.
