Select the best answer for the multiple choice or True/False (T/F) questions: 1. Which of the following is a main reason why project managers need to understand their organization's mission and strategy? A. They can better focus on the immediate customer B. They can make appropriate decisions and adjustments C. So they can be effective project advocates D. Both B and Care correct E. A, B, and Care all correct 2. Which of the following questions does the organization's mission statement answer? A. What are our long-term strategies? B. What are our long-term goals and objectives? C. How do we operate in the existing environment? D. What do we want to become? E. All of these are answered by the mission statement 3. Strategy formulation includes which of the following activities? A. Determining alternatives B. Creating profitability targets C. Evaluating alternatives D. Both a and care correct E. A, B, and C are all correct 4. Project selection criteria are typically classified as: A. Financial and non-financial B. Short-term and long-term C. Strategic and tactical D. Required and optional E. Cost and schedule 5. Which of the following is NOT TRUE of multi-weighted scoring models? A. Will include quantitative criteria B. Will include qualitative criteria C. Each criterion is assigned a weight