1. The company where you work is focusing on doing things more quickly and less expensively. They are not introducing new products at this time. Which of the following best describes what this company is doing?

Developing a portfolio of programs and projects.

Focusing on operational efficiency

Developing a long term strategic plan.

Working on a strategic initiative.

2. Organizations are also susceptible to the ____________, which means that they find it difficult to kill projects that don't align with company strategy just because they've already spent money on them.

green light tradition

groupthink fallacy

sunk cost fallacy

conservatism outlook

3. Projects are not dependent on each other; selecting a specific project does not impact the overall portfolio of a company.

True

False

4. A cognitive bias that causes people to perceive direct cause/effect relationships between things that actually have more complex connectionscan make it hard to interpret monitoring data correctly. What is this type of bias called?

linearity bias

logical bias

simplicity bias

rational bias