Busi 682 midterm examination answers

1. BUSI 682 Midterm Examination Answers
Follow Below Link to Download Tutorial
https://homeworklance.com/downloads/busi-682-midterm-examination-answers/
For More Information Visit Our Website ( https://homeworklance.com/ )
Email us At: Support@homeworklance.com or lancehomework@gmail.com
 Question 1
4 out of 4 points
Formal project planning begins after project signoff.
 Question 2
4 out of 4 points
A cultural audit is a way to determine how culture may be an advantage or a challenge.
 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.
 Question 4
4 out of 4 points
Projects that aim to increase operational efficiency, capacity, and improved process quality
provide tactical value.

2.  Question 5
4 out of 4 points
Albeit anecdotal, most projects fail due to communication problems and lack of understanding.
 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.
 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.
 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.
 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.
 Question 10

3. 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.
 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.
 Question 12
4 out of 4 points
In a predictability –oriented culture, one needs to be prepared for vagueness in communication.
 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.
 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.
 Question 15

4. 4 out of 4 points
Transferring risk is more likely to protect financial interests that ensure the success of the
project.
 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.
 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.
 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”.
 Question 19
4 out of 4 points
One of the goals in project risk management is to push more unknown unknowns to known
unknowns.
 Question 20

5. 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.
 Question 21
4 out of 4 points
It is important to recognize that it may take longer to make decisions in uncertainty tolerant
cultures.
 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.
 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”.
 Question 24
4 out of 4 points
In essence, all forms of value ultimately contribute to the strategic value of a firm.
 Question 25

6. 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.
 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.
 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.
 Question 28
4 out of 4 points
Projects for a bridge between strategy and results.
 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.
 Question 30

7. 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.
 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.
 Question 32
4 out of 4 points
Successful leaders of global projects must not be ethnocentric.
 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.
 Question 34
4 out of 4 points
Relationships are generally subordinate to schedules in polychromic cultures.
 Question 35
4 out of 4 points

8. 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.
 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”.
 Question 37
4 out of 4 points
Budget and human resources constrain most projects.
 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.
 Question 39
4 out of 4 points
Scope creep refers to the tendency to add to the scope of the project over time.
 Question 40
4 out of 4 points

9. Constraints are any factors that limit our options in pursuing the project objectives.
 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.
 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.
 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.
 Question 44
4 out of 4 points
Six Sigma initiatives, new production plants, offshoring, shared services, and similar projects
provide tactical value.
 Question 45
4 out of 4 points

10. Low context cultures are characterized by respect for a person’s title, age, and background
connections
 Question 46
4 out of 4 points
Culture is learned and individuals from the same culture have exactly the same learning
experiences.
 Question 47
4 out of 4 points
Uncertainty avoidance indicates “the extent to which a society feels threatened by uncertain or
ambiguous situations.
 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.
 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.
 Question 50
4 out of 4 points

11. A negative net present value (NPV) is generally unacceptable, especially in compliance projects
in which the return of the project is penalty avoidance.