Project Managers Who Understand the Role That Their Project Plays

question 83

Multiple Choice

Project managers who understand the role that their project plays in accomplishing the organization's strategy are able to do all of the following EXCEPT

• A) Demonstrate to senior management how their project contributes to the firm's mission.
• B) Explain to team members why certain project objectives and priorities are critical.
• C) Explain to stakeholders why certain project objectives and priorities are critical.
• D) Be able to respond appropriately to delays and/or questions about product design.
• E) Be able to focus on problems or solutions,even if the project is a low priority strategically.

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Definitions:

Prestige Objective

The prestige objective in marketing refers to creating a high status and perception of exclusivity around a product or brand, aimed at attracting customers seeking luxury or high-quality items.

Profitability Strategy

A business approach focused on increasing net income through revenue enhancement, cost reduction, or both.

Breakeven Analysis

A financial calculation to determine the point at which revenue received equals the costs associated with receiving the revenue, thus no net loss or gain is incurred.

Company's Costs

Company's costs refer to the various expenses a company incurs in its operations, including production, marketing, and administrative expenses.