Entrepreneurship and Innovation Exam
Review
Course Introduction
This course explores the fundamental concepts of entrepreneurship and innovation, equipping students with the knowledge and skills needed to identify opportunities, develop business ideas, and implement innovative solutions in various organizational contexts. Emphasizing the entrepreneurial mindset, students will examine the processes of creating new ventures, managing growth, assessing risks, and leveraging creative problem-solving. Through case studies, experiential learning, and practical projects, the course encourages critical thinking and fosters the development of essential tools for launching and sustaining successful enterprises in a rapidly evolving global environment.
Recommended Textbook
Contemporary Project Management 2nd Edition by Timothy
Available Study Resources on Quizplus
15 Chapters
685 Verified Questions
685 Flashcards
Source URL: https://quizplus.com/study-set/563
Page 2
J. Kloppenborg
Chapter 1: Introduction to Project Management
Available Study Resources on Quizplus for this Chatper
47 Verified Questions
47 Flashcards
Source URL: https://quizplus.com/quiz/10486
Sample Questions
Q1) Typically,the senior customer representative is responsible for which of the following project roles?
A) develops the project schedule and budget
B) determines how the project work will be accomplished
C) ensures the needs of the customer's organization are identified and prioritized
D) helps the project manager with running meetings and providing status reports
Answer: C
Q2) Which of the following statements correctly describes project management?
A) Project management applies knowledge, skills, tools and techniques to project activities.
B) Project management should not involve tradeoffs between scope, schedule and cost.
C) Project management only relies upon checklists to plan and execute the work.
D) all of these
Answer: A
Q3) Project customers can be either internal or external to the organization.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Project Selection and Prioritization
Available Study Resources on Quizplus for this Chatper
51 Verified Questions
51 Flashcards
Source URL: https://quizplus.com/quiz/10487
Sample Questions
Q1) All of the following factors influence the opportunities and threats an organization must consider when performing a strategic analysis EXCEPT:
A) competitors
B) suppliers
C) regulatory agencies
D) employees
Answer: D
Q2) Scoring models are very useful in providing input regarding the starting order of projects.
A)True
B)False
Answer: True
Q3) There are times that certain projects must be selected regardless of any considerations such as strategic fit,profitability or probability of success.
A)True
B)False
Answer: True
Q4) Describe the advantages and limitations of scoring models in project selection. Answer: Answer will vary
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Organizational Capability: Structure,Culture and
Roles
Available Study Resources on Quizplus for this Chatper
51 Verified Questions
51 Flashcards
Source URL: https://quizplus.com/quiz/10488
Sample Questions
Q1) Which of the following characteristics is NOT associated with a functional organization?
A) Each employee has one clear superior.
B) Resources are easily shared between departments and projects
C) Staff are managed by a person with expertise in their area.
D) Staff are grouped by areas of specialization.
Answer: B
Q2) In "personal cultures" people display an attitude that collaboration is satisfying and stimulating.
A)True
B)False Answer: True
Q3) The project sponsor is often responsible to ensure that several customer related tasks are performed,including identification of the customers and prioritization of their desires.
A)True
B)False Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Chartering Projects
Available Study Resources on Quizplus for this Chatper
39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/10489
Sample Questions
Q1) A background statement is a mandatory element of the project charter that sets the stage for creation of the scope overview and business case.
A)True
B)False
Q2) Which of the following charter elements should inspire team members to develop a passion for the project and to work hard on it?
A) the project vision statement
B) the business case
C) the project motto
D) milestone schedule
Q3) One purpose of the project charter is to help the project team and the project sponsor to commit to the project.
A)True
B)False
Q4) Project charters typically include all of the following elements EXCEPT:
A) risks
B) assumptions
C) resource names
D) constraints
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Stakeholder Analysis and Communication Planning
Available Study Resources on Quizplus for this Chatper
46 Verified Questions
46 Flashcards
Source URL: https://quizplus.com/quiz/10490
Sample Questions
Q1) Describe the approach you would use to build relationships among the core members of the project team.
Q2) Describe the approach you would use to build relationships with key external stakeholders.
Q3) A project communications management plan is a document that generally includes all of the following information EXCEPT:
A) how and in what format information will be communicated
B) when and where each communication will be made
C) how changes will be made to the organizational structure
D) who is responsible for each type of communication
Q4) Project managers should purposefully plan and carry out relationship building activities that lead to respect and trust.
A)True B)False
Q5) In order to be sure a project meeting runs according to plan,the project manager should develop an agenda in advance and deliver it to participants as they arrive at the meeting.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Defining Scope and Constructing Work
Breakdown Structures (WBS)
Available Study Resources on Quizplus for this Chatper
45 Verified Questions
45 Flashcards
Source URL: https://quizplus.com/quiz/10491
Sample Questions
Q1) By using a systematic process of creating a Work Breakdown Structure,project team members can help to ensure they remember all major portions of work to be accomplished.
A)True
B)False
Q2) Which of the following statements is true concerning the adoption of rolling wave planning in project management?
A) It is facilitated when the second level of the work breakdown structure is organized by phase.
B) It is initially cumbersome, often delaying a prompt and timely project start.
C) It often creates a situation known as "analysis paralysis."
D) It requires detailed bottom-up estimating for every WBS component
Q3) Formally documented procedures that define how project deliverables and documentation will be controlled,changed and approved are collectively known by which of the following terms?
A) scope creep
B) a change control system
C) a configuration management plan
D) a scope management plan
8
To view all questions and flashcards with answers, click on the resource link above.
Chapter 7: Scheduling Activities
Available Study Resources on Quizplus for this Chatper
56 Verified Questions
56 Flashcards
Source URL: https://quizplus.com/quiz/10492
Sample Questions
Q1) Creating a realistic schedule is often an iterative process because several factors can limit how fast a project can be completed. All of the following factors can limit how fast a project can be scheduled and completed EXCEPT:
A) logical order
B) imposed dates
C) resource availability
D) quality control
Q2) All of the following problems contribute to difficulty in estimating activity durations accurately EXCEPT:
A) merging - the case of multiple predecessors
B) omissions - leaving out key activities
C) general uncertainty in the estimate
D) fixed price estimates for work packages to be outsourced
Q3) All of the following items can provide useful assistance to a project team to define the activities of a project EXCEPT:
A) the work packages from the Work Breakdown Structure
B) quality management plan
C) checklists for projects of the same type
D) schedules from similar projects that are already completed
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 8: Resourcing Projects
Available Study Resources on Quizplus for this Chatper
45 Verified Questions
45 Flashcards
Source URL: https://quizplus.com/quiz/10493
Sample Questions
Q1) Often circumstances dictate the need to accelerate a project schedule. Describe how crashing and fast tracking can be used to compress a project schedule. What limitations do you see with using each of these methods?
Q2) When constructing a responsibility matrix or "RACI" chart,it is important to ensure that only one person has primary responsibility for any activity.
A)True
B)False
Q3) When recruiting resources to support a project,it is always best to bring team members and experts on board as soon as possible.
A)True
B)False
Q4) Scope reductions are fairly common among projects that face severe schedule constraints.
A)True
B)False
Q5) Often project schedules become infeasible due to resource conflicts. What methods might you use as a project manager to resolve resource conflicts?
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Budgeting Projects
Available Study Resources on Quizplus for this Chatper
47 Verified Questions
47 Flashcards
Source URL: https://quizplus.com/quiz/10494
Sample Questions
Q1) Decisions related to fixed and variable costs are very sensitive to changes in volume related factors and project scope.
A)True
B)False
Q2) All of the following are among the benefits realized as a consequence of developing a cost management plan EXCEPT:
A) It provides relevant, accurate and timely information to support intelligent and ethical decisions.
B) It documents how the business case should be created
C) It helps stakeholders to focus on schedule and performance as well as cost.
D) It provides feedback that shows how the project's success is related to business objectives.
Q3) Consider the time-phased budget presented in Figure 9-1. What is the cumulative project budget through the end of April?
A) $ 8.000
B) $20,000
C) $38,000
D) $46,000
To view all questions and flashcards with answers, click on the resource link above.
11
Chapter 10: Project Risk Planning
Available Study Resources on Quizplus for this Chatper
45 Verified Questions
45 Flashcards
Source URL: https://quizplus.com/quiz/10495
Sample Questions
Q1) Generally,once risks have been identified and analyzed,the project team decides how to handle each risk.
A)True
B)False
Q2) All of the following describe an appropriate application of Plan Risk Responses in project management EXCEPT:
A) Risk response planning should address both opportunities and threats.
B) Often multiple strategies are identified for a single risk.
C) The expectations of the sponsor and key stakeholders should influence the risk responses that are developed.
D) Responses should be created for every identified project risk
Q3) Risk response strategies such as acceptance and conducting further research apply to both threats and opportunities.
A)True
B)False
Q4) Plan Risk Responses focuses on developing options and actions for every identified risk.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Project Quality Planning and Project Kick: off
Available Study Resources on Quizplus for this Chatper
46 Verified Questions
46 Flashcards
Source URL: https://quizplus.com/quiz/10496
Sample Questions
Q1) The goal of empowered performance is to improve performance results each and every period.
A)True
B)False
Q2) On many small,simple projects the quality planning is performed concurrently with other planning and the quality plan is seamlessly incorporated into the project plan.
A)True
B)False
Q3) All of the following reasons explain why it is better to design quality into processes than to find problems through inspections EXCEPT:
A) The cost of rework can be expensive.
B) The time associated with rework aggravates time pressures.
C) Some mistakes are likely to reach the customer.
D) The best inspectors should find every variation and defect
Q4) Stakeholder satisfaction requires an understanding of the ultimate quality goals with respect to stakeholders.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Project Supply Chain Management
Available Study Resources on Quizplus for this Chatper
45 Verified Questions
45 Flashcards
Source URL: https://quizplus.com/quiz/10497
Sample Questions
Q1) Supply chain management focuses exclusively upon the parties directly involved in providing supplies to the project team.
A)True
B)False
Q2) On complex projects,despite the importance of factors such as technical capability,managerial capability and previous experience;the ultimate driving factor is almost always the price of the proposal.
A)True
B)False
Q3) Supply chains use a combination of modes of transportation including: air,rail,water,pipeline and trucks.
A)True
B)False
Q4) Project partnerships offer all of the following advantages to vendors EXCEPT:
A) there is a more dependable stream of work
B) the expected outcome is more clearly stated
C) the buyer gains at the vendor's expense
D) greater potential profit
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Leading and Managing Project Teams
Available Study Resources on Quizplus for this Chatper
47 Verified Questions
47 Flashcards
Source URL: https://quizplus.com/quiz/10498
Sample Questions
Q1) Which of the following is among the responsibilities of all project team members?
A) to complete their individual work on time, on budget and correctly
B) to complete their joint work with teammates on time, on budget and correctly
C) to work with the team to improve the project team's capabilities
D) all of these
Q2) Assembling the right quantity and variety of skills and experience for the project team can be quite challenging. One strategy is to staff the project with a combination of experienced and less experienced workers. All of the following are benefits associated with this approach EXCEPT:
A) It often costs less to use an inexperienced person.
B) The project manager can dominate the more junior team members
C) It helps to achieve organizational learning.
D) The more experienced person can mentor the inexperienced person.
Q3) The value of engaging a subject matter expert early in a project should be balanced against the potentially significant cost of paying for his or her expertise.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Determining Project Progress and Results
Available Study Resources on Quizplus for this Chatper
45 Verified Questions
45 Flashcards
Source URL: https://quizplus.com/quiz/10499
Sample Questions
Q1) All of the following accurately apply to project performance reporting EXCEPT:
A) Performance reporting includes meetings, reports and documentation.
B) Performance can be reported at fixed intervals or at key milestones.
C) Progress can be reported at varying degrees of frequency.
D) The same report format should be used for all stakeholders
Q2) Which of the following are appropriate lessons that should guide the information distribution practices of project managers in the information age?
A) target communications to as many people as possible
B) replace communication methods as soon as new methods emerge
C) use the communication plan and always monitor additional communication needs
D) emails should be the only form of communications
Q3) Two types of control are used extensively on projects: steering control and go / no go control.
A)True
B)False
Q4) Inspection is keeping errors out of process while prevention is trying to find errors so they do not get to the customer.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Finishing the Project
Available Study Resources on Quizplus for this Chatper
30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/10500
Sample Questions
Q1) More organizations effectively collect lessons learned than effectively disseminate and use them.
A)True
B)False
Q2) A method for documenting and sharing lessons must be established in order for an organization to capitalize on lessons learned.
A)True
B)False
Q3) Early termination can be either for default or for the convenience of the seller.
A)True
B)False
Q4) Project close-out checklists provide the project manager a legally enforceable contract vehicle to hold team members accountable for each item that must be completed to close a project.
A)True B)False
Q5) Describe the approach you would take to implement a viable lessons learned program on your project.
To view all questions and flashcards with answers, click on the resource link above. Page 17