Practice Test

True/False: Interviewing is not a common method used in information gathering for evaluating strategic goals and objectives.

  • Answer: False

Explanation: Interviewing is one of the most common and effective methods used for information gathering when evaluating an organization’s strategic goals and objectives.

Which of the following is not a method used in gathering information for evaluating strategic goals and objectives?

  • a. Document Reviews
  • b. Brainstorming
  • c. Interviews
  • d. Financial Modeling

Answer: d. Financial Modeling

Explanation: While financial modeling is helpful for assessing the feasibility of strategic goals, it doesn’t inherently contribute to information gathering about those goals.

Single Select: Which technique is commonly used to understand strategic priorities in an organization?

  • a. Financial Analysis
  • b. Inventory Management
  • c. Document Reviews
  • d. Social Media Marketing

Answer: c. Document Reviews

Explanation: Document reviews, such as reviewing business plans or strategic planning documents, understand the strategic priorities of an organization.

Multiple Select: Which of the following techniques are effective in understanding an organization’s strategic priorities?

  • a. Document Reviews
  • b. Surveys
  • c. Interviewing
  • d. Machine Learning Algorithms

Answer: a. Document Reviews, b. Surveys, c. Interviewing

Explanation: Document reviews, surveys, and interviewing are all traditional methods of gathering information about an organization’s strategic priorities.

True/False: Portfolio management professionals do not need to understand an organization’s strategic goals and objectives.

  • Answer: False

Explanation: Understanding organizational strategic goals and objectives is essential for portfolio management professionals as it helps them align the portfolio to those goals.

True/False: Information gathering techniques for evaluating strategic goals and objectives should always be rigid and uniform.

  • Answer: False

Explanation: The information gathering techniques should be flexible and adaptable depending on the scope, context, and nature of the strategic goals and objectives.

True/False: Document reviews always give a comprehensive understanding of an organization’s strategic priorities.

  • Answer: False

Explanation: While document reviews are important, they should be complemented with other techniques such as interviewing and surveys for a comprehensive understanding of the organization’s strategic priorities.

Multiple Select: What information could be gathered from interviews when evaluating strategic goals and objectives?

  • a. Personal Biases
  • b. Clear Explanation of Goals
  • c. Interpretation of Documented Data
  • d. Domestic Preferences

Answer: b. Clear Explanation of Goals, c. Interpretation of Documented Data

Explanation: Interviews offer the chance to clarify goals and get insight into how stakeholders view and interpret documented data.

Single Select: Why is information gathering necessary in understanding strategic priorities of an organization?

  • a. Staff Training
  • b. Decision Making
  • c. Social Media Management
  • d. Software Upgrade

Answer: b. Decision Making

Explanation: Information gathering aids decision-making processes by giving a clear picture of strategic goals and priorities.

Multiple Select: Which of the following sources can provide valuable information about an organization’s strategic priorities?

  • a. Business Plans
  • b. Annual Reports
  • c. Website
  • d. Employee Training Manuals

Answer: a. Business Plans, b. Annual Reports, c. Website

Explanation: Business plans, annual reports, and the company website can all provide key insights into strategic priorities set by the organization.

Interview Questions

1. What is the purpose of evaluating organizational strategic goals and objectives?

Organizational strategic goals and objectives are evaluated to understand the strategic priorities of the organization and align project portfolios with these priorities.

2. What role do document reviews play in evaluating organizational strategic goals and objectives?

Document reviews help in understanding the existing strategic goals and objectives of the organization and provide insights into the overall direction of the organization.

3. How can interviewing help in understanding the strategic priorities of an organization?

Interviewing key stakeholders and decision-makers within the organization can provide valuable insights into the strategic goals and priorities of the organization.

4. What are some other information gathering techniques that can be used to evaluate organizational strategic goals and objectives?

Other information gathering techniques include surveys, focus groups, and industry research to gather data on strategic priorities.

5. How can a PfMP use the information gathered through document reviews and interviews to understand the strategic priorities of an organization?

By analyzing the information gathered, a PfMP can gain a comprehensive understanding of the strategic goals and objectives of the organization and identify key priorities for project portfolio management.

6. What are some common challenges that organizations face when evaluating their strategic goals and objectives?

Some common challenges include conflicting priorities, lack of alignment between projects and strategic goals, and changing market conditions.

7. How important is it for organizations to regularly review and update their strategic goals and objectives?

Regularly reviewing and updating strategic goals and objectives is crucial to ensure that the organization remains agile and responsive to changes in the external environment.

8. How can a PfMP help organizations prioritize projects based on strategic goals and objectives?

A PfMP can use tools and techniques such as strategic alignment matrices and benefit realization plans to prioritize projects based on their alignment with organizational strategic goals.

9. What role does stakeholder engagement play in understanding organizational strategic priorities?

Engaging key stakeholders in the process of evaluating strategic priorities ensures alignment and buy-in from all relevant parties and helps in achieving organizational goals.

10. How can a PfMP ensure that project portfolios are aligned with organizational strategic goals and objectives?

A PfMP can regularly review and update project portfolios, conduct strategic reviews, and realign projects as needed to ensure alignment with organizational strategic goals.

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