Final answer:
True, projects are linked to the strategic plan as they operationalize strategies, and prioritizing projects based on their alignment with the strategic plan indeed helps in maximizing scarce resources.
Step-by-step explanation:
The statement that projects are linked to the strategic plan because projects represent how a strategy will be implemented is true. Projects are indeed crucial components in the execution of a company's strategic vision. They are the vehicles through which strategies are translated into actionable tasks and tangible results. Moreover, it is accurate to say that the best way to maximize scarce resources is through a priority scheme that allocates these resources to projects which balance risk and contribute most significantly to the strategic plan.
Such a priority scheme ensures that the most important projects are resourced appropriately to align with the organization's objectives and facilitate strategic success.True. Projects are linked to the strategic plan as they serve as the means to implement the strategy. A strategic plan outlines the long-term goals and objectives of an organization, while projects are the specific initiatives that work towards achieving those goals.A priority scheme is used to allocate scarce resources to projects. This scheme considers factors such as balancing risk and maximizing contributions to the strategic plan. By prioritizing projects based on their alignment with the strategic plan, organizations can efficiently allocate resources.