MGT 6655 QUIZ 3 QUESTIONS AND
ANSWERS 2026 UPDATE 100 PERCENT
CORRECT GT UPDATED REVIEW PAPER
2026 QUESTIONS AND CORRECT ANSWERS
GRADED A+
⩥Project. Answer: A temporary endeavor undertaken to create a unique
product, service, or result.
⩥Project Characteristics. Answer: Objective
Defined Life Span
Involves several departments and professionals
Typically not been done before
Time, cost, performance req's
⩥Program. Answer: A group of related projects to accomplish a common
goal over a period of time
⩥Program Management. Answer: Managing a group of ongoing,
independent related projects in a coordinated way to achieve strategic
objectives
,⩥Stages of Project Life Cycle. Answer: 1. Defining (goals, specs, tasks,
responsibilities)
2. Planning (schedule, budget, resource, risk, staff)
3. Executing (status reports, changes, quality, forecasts)
4. Closing (train customer, transfer docs, release resources, evaluation)
⩥Project Managers vs Functional MGRs. Answer: Create team/org
while functional MGRs take over existing. PMs have less technical
knowledge than FMs
⩥Current Drivers of Project Management. Answer: 1) Compression of
the product life cycle (.5 year delay = -33% revenue)
2) Knowledge explosion/product complexity requires someone to bring
all the right tools and experts together)
3) Triple bottom line (planet, people, profit)
4) Increased customer focus
⩥Centralization of projects entails.... Answer: Governance of all project
processes/practices to improve PM
⩥Project Governance. Answer: Apply knowledge, skills, tools,
techniques to a collection of projects to move .org to strategic goals.
Allows MGRs to have flexibility/control of PM activities
,⩥Environment surrounds PM to portfolio MGT to strategic MGT.
Answer:
⩥PM has 2 sides. Answer: 1) technical (scope, WBS, schedules,
resource allocation, budgets, status reports)
2) sociocultural (leadership, problem solving, teamwork, negotiation,
politics, customer expectations)
⩥PM at the apex of strategy and ops. Answer: Need to know org
strategy to advocate for their project and to be ready to respond to
changes
⩥Strategic MGT. Answer: Assessing what we are and
deciding/implementing what we intend to be and how to get there.
Strategy describes how an org intends to compete with resources
available in existing environment
⩥Strategic Management Dimensions. Answer: Respond to changes in
external environment
Allocate scarce resources to improve position
⩥Strategic MGT activities. Answer: 1) Review/define org mission
2) Analyze/formulate strategies
3) set objectives to achieve strategy
, 4) implement strategies through projects
⩥OBJ's answer in detail where a firm is headed and when it will get
there. Answer: Org obj's drive projects
⩥Implementation gap. Answer: lack of understanding/consensus of org
strategy among top and middle level MGRs
⩥Sacred cow. Answer: project that a powerful high ranking official is
advocating
⩥Project sponsors. Answer: high ranking MGRs endorse/support project
⩥3 Problems with sponsors?. Answer: 1) Implementation gap
2) Org politics
3) Resource conflicts/multitasking
⩥Portfolio MGT system aims to align projects with strategic goals and
prioritize. Answer:
⩥Three kinds of projects. Answer: 1) Compliance, meets regs, must do
2) Operational, supports current ops
3) Strategic, directly supports org strategy
ANSWERS 2026 UPDATE 100 PERCENT
CORRECT GT UPDATED REVIEW PAPER
2026 QUESTIONS AND CORRECT ANSWERS
GRADED A+
⩥Project. Answer: A temporary endeavor undertaken to create a unique
product, service, or result.
⩥Project Characteristics. Answer: Objective
Defined Life Span
Involves several departments and professionals
Typically not been done before
Time, cost, performance req's
⩥Program. Answer: A group of related projects to accomplish a common
goal over a period of time
⩥Program Management. Answer: Managing a group of ongoing,
independent related projects in a coordinated way to achieve strategic
objectives
,⩥Stages of Project Life Cycle. Answer: 1. Defining (goals, specs, tasks,
responsibilities)
2. Planning (schedule, budget, resource, risk, staff)
3. Executing (status reports, changes, quality, forecasts)
4. Closing (train customer, transfer docs, release resources, evaluation)
⩥Project Managers vs Functional MGRs. Answer: Create team/org
while functional MGRs take over existing. PMs have less technical
knowledge than FMs
⩥Current Drivers of Project Management. Answer: 1) Compression of
the product life cycle (.5 year delay = -33% revenue)
2) Knowledge explosion/product complexity requires someone to bring
all the right tools and experts together)
3) Triple bottom line (planet, people, profit)
4) Increased customer focus
⩥Centralization of projects entails.... Answer: Governance of all project
processes/practices to improve PM
⩥Project Governance. Answer: Apply knowledge, skills, tools,
techniques to a collection of projects to move .org to strategic goals.
Allows MGRs to have flexibility/control of PM activities
,⩥Environment surrounds PM to portfolio MGT to strategic MGT.
Answer:
⩥PM has 2 sides. Answer: 1) technical (scope, WBS, schedules,
resource allocation, budgets, status reports)
2) sociocultural (leadership, problem solving, teamwork, negotiation,
politics, customer expectations)
⩥PM at the apex of strategy and ops. Answer: Need to know org
strategy to advocate for their project and to be ready to respond to
changes
⩥Strategic MGT. Answer: Assessing what we are and
deciding/implementing what we intend to be and how to get there.
Strategy describes how an org intends to compete with resources
available in existing environment
⩥Strategic Management Dimensions. Answer: Respond to changes in
external environment
Allocate scarce resources to improve position
⩥Strategic MGT activities. Answer: 1) Review/define org mission
2) Analyze/formulate strategies
3) set objectives to achieve strategy
, 4) implement strategies through projects
⩥OBJ's answer in detail where a firm is headed and when it will get
there. Answer: Org obj's drive projects
⩥Implementation gap. Answer: lack of understanding/consensus of org
strategy among top and middle level MGRs
⩥Sacred cow. Answer: project that a powerful high ranking official is
advocating
⩥Project sponsors. Answer: high ranking MGRs endorse/support project
⩥3 Problems with sponsors?. Answer: 1) Implementation gap
2) Org politics
3) Resource conflicts/multitasking
⩥Portfolio MGT system aims to align projects with strategic goals and
prioritize. Answer:
⩥Three kinds of projects. Answer: 1) Compliance, meets regs, must do
2) Operational, supports current ops
3) Strategic, directly supports org strategy
