Why Do Project Managers Need to Understand Their Organization's Mission

question 73

Multiple Choice

Why do project managers need to understand their organization's mission and strategy?

• A) To reduce project duration and increase the number of projects implemented
• B) So they can make appropriate decisions and adjustments and be effective project advocates
• C) It is only important for senior management to understand the organization's mission and strategy
• D) To get their job done and increase opportunities for promotion
• E) So that they can make sure the customer is satisfied

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Definitions:

Marginal Revenue Product Curve

A curve showing the additional revenue generated by employing one more unit of a resource, assuming all other factors are constant.

Marginal Revenue Product

The increase in revenue resulting from the utilization of one more resource unit.

Wage Rate

The amount of compensation paid to employees per unit of time worked, often expressed per hour or year.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a particular input, assuming all other inputs remain constant.