PGM FACILITY MANAGEMENT LEVEL 1 EXAM
QUESTIONS And CORRECT Answers
stakeholders - CORRECT ANSWERS a person or group having a stake or interest in the
success of the business (key in establishing business goals)
What is the most significant advantage of strategic business planning? - CORRECT
ANSWERS Provides a long-term vision and destination; doesn't just focus on the current
state of the business
What is strategic business planning? - CORRECT ANSWERS the formal process of defining
an organization's future direction and destination
Long-range plans - CORRECT ANSWERS Usually 3-5 year plans; identify a future
"destination" for a business; include long-term goals and a financial forecast
Annual business plans - CORRECT ANSWERS short-term, one year plans with specific
objectives and budgets created to achieve measurable growth towards its long-term goals and
vision
5 Phases of the Business Planning Model - CORRECT ANSWERS 1. Define the business
2. Assess the current state of the business
3. Develop business goals, objectives, and strategies
4. Prepare financial forecasts and budgets
5. Monitor performance
Defining the Business - CORRECT ANSWERS Input from key stakeholders is used to
establish the facility's purpose and direction (core values, mission, vision)
, Creating a business profile is a part of which phase? - CORRECT ANSWERS Defining the
business
What are typical outcomes of a SWOT analysis? - CORRECT ANSWERS Descriptions of
current and past financial performance, progress towards established goals and objectives, and
required changes to core business areas and operational procedures.
Outcomes of Financial Forecasting - CORRECT ANSWERS -Long-range forecast
-Annual operating budget
-Cash flow statement
-Operational Strategies needing to be implemented
5 Sections of a Written Business Plan - CORRECT ANSWERS 1. Executive
Summary/Definition of Business
2. Current State of Business
3. Business Objectives and Related Strategies
4. Financial Forecasts and Budgets
5. Monitoring Performance
About how long should an executive summary be? - CORRECT ANSWERS Approximately
150 words
Core Values - CORRECT ANSWERS Set of beliefs stakeholders bring to the business
Vision - CORRECT ANSWERS Where the business is headed under ideal circumstances; a
catalyst that ignites a business to move toward an ambitious dream
QUESTIONS And CORRECT Answers
stakeholders - CORRECT ANSWERS a person or group having a stake or interest in the
success of the business (key in establishing business goals)
What is the most significant advantage of strategic business planning? - CORRECT
ANSWERS Provides a long-term vision and destination; doesn't just focus on the current
state of the business
What is strategic business planning? - CORRECT ANSWERS the formal process of defining
an organization's future direction and destination
Long-range plans - CORRECT ANSWERS Usually 3-5 year plans; identify a future
"destination" for a business; include long-term goals and a financial forecast
Annual business plans - CORRECT ANSWERS short-term, one year plans with specific
objectives and budgets created to achieve measurable growth towards its long-term goals and
vision
5 Phases of the Business Planning Model - CORRECT ANSWERS 1. Define the business
2. Assess the current state of the business
3. Develop business goals, objectives, and strategies
4. Prepare financial forecasts and budgets
5. Monitor performance
Defining the Business - CORRECT ANSWERS Input from key stakeholders is used to
establish the facility's purpose and direction (core values, mission, vision)
, Creating a business profile is a part of which phase? - CORRECT ANSWERS Defining the
business
What are typical outcomes of a SWOT analysis? - CORRECT ANSWERS Descriptions of
current and past financial performance, progress towards established goals and objectives, and
required changes to core business areas and operational procedures.
Outcomes of Financial Forecasting - CORRECT ANSWERS -Long-range forecast
-Annual operating budget
-Cash flow statement
-Operational Strategies needing to be implemented
5 Sections of a Written Business Plan - CORRECT ANSWERS 1. Executive
Summary/Definition of Business
2. Current State of Business
3. Business Objectives and Related Strategies
4. Financial Forecasts and Budgets
5. Monitoring Performance
About how long should an executive summary be? - CORRECT ANSWERS Approximately
150 words
Core Values - CORRECT ANSWERS Set of beliefs stakeholders bring to the business
Vision - CORRECT ANSWERS Where the business is headed under ideal circumstances; a
catalyst that ignites a business to move toward an ambitious dream
