Entrepreneurship
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Course Introduction
Entrepreneurship is a dynamic course that explores the process of identifying, evaluating, and developing opportunities for new business ventures. Students will gain an understanding of the entrepreneurial mindset, the creativity and innovation required to start a business, and the fundamentals of business planning, financing, and management. The course covers topics such as opportunity recognition, market research, business model development, resource acquisition, and risk management. Through real-world case studies and interactive activities, students will learn how to transform innovative ideas into viable, sustainable enterprises while navigating the challenges and rewards of entrepreneurship.
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Project Management The Managerial Process 7th Edition by Erik Larson
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Chapter 1: Modern Project Management
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Sample Questions
Q1) A professional organization for project managers that has grown from 93,000 in 2002 to more than 520,000 currently is the ___________.
Answer: Project Management Institute (PMI
Explanation: The Project Management Institute (PMI)is a professional organization for project managers.
Q2) In the _____________ stage of What is a Project?, a major portion of the actual project work performed.
A)Identifying
B)Defining
C)Planning
D)Executing
E)Closing
Answer: D
Q3) Project governance means applying a set of knowledge, skills, tools, and techniques to a collection of projects in order to move the organization toward its strategic goals.
A)True
B)False
Answer: True
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Chapter 2: Organization Strategy and Project Selection
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Sample Questions
Q1) Which of the following problems refers to lack of understanding and consensus of organization strategy among top and middle-level managers? This also can result when top management formulates strategy and leaves implementation to functional managers.
A)Multitasking
B)Organization politics
C)Implementation gap
D)Resource conflicts
E)Employee turnover
Answer: C
Q2) What are the two major shortcomings of using the Checklist approach to select projects?
Answer: The Checklist approach fails to determine the relative importance of the project to the firm and fails to compare projects to other potential projects.
Q3) Multiweighted scoring models include only quantitative criteria, not qualitative.
A)True
B)False
Answer: False
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4
Chapter 3: Organization: Structure and Culture
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101 Flashcards
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Sample Questions
Q1) In all cases of looking for an ideal project culture, there is always the need for A)More funding.
B)Balance among multiple project dimensions.
C)Considerable support from all levels of management.
D)A very strong Project Management Office.
Answer: B
Q2) The ________ matrix form of project organization can achieve better equilibrium between technical and project requirements, but it is a very delicate system to create and manage.
Answer: balanced
Explanation: This is the classic matrix in which the project manager is responsible for defining what needs to be accomplished while the functional managers are concerned with how it will be accomplished.More specifically, the project manager establishes the overall plan for completing the project, integrates the contribution of the different disciplines, sets schedules, and monitors progress.
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Chapter 4: Defining the Project
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Sample Questions
Q1) A Process Breakdown Structure is a replacement for the Work Breakdown Structure for projects with tangible outcomes.
A)True
B)False
Q2) A communication plan should include limits on who has access to certain kinds of information.
A)True
B)False
Q3) During the course of a project, project priorities may change impacting the project priority matrix.Give an example.
Q4) What is an organization breakdown structure and how would you use it to plan a project?
Q5) The final stage in defining a project is coding the organization breakdown structure or OBS for the information system.
A)True
B)False
Q6) In project management terms, what is meant by "managing the trade-offs"?
Q7) A robust ______________ can go a long way to reducing project problems over the life of the project.
6
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Chapter 5: Estimating Project Times and Costs
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Sample Questions
Q1) Under what conditions would the bottom-up approach to estimating project times and costs be the best choice?
Q2) The estimating factor that considers the tendency to overestimate project time and cost in order to improve the likelihood of meeting the estimates is known as the ___________ factor.
Q3) What is the relationship between organizational culture and estimating?
A)There is no relationship.
B)Cultural norms affect the accuracy of estimates.
C)Culture determines whether estimates are made.
D)Estimating alters cultural norms.
E)Estimating and culture are independent.
Q4) Costs that are not directly related to a specific project, such as advertising, accounting, and senior management's salary, are classified as _____________ costs.
Q5) The salary of the project manager and her administrative assistant is classified as direct labor costs.
A)True
B)False
Q6) A(n)__________ is something that is a valuable but burdensome possession.
Q7) List and describe two reasons why estimates may need to be refined.
Page 7
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Chapter 6: Developing a Project Plan
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Sample Questions
Q1) A _________ activity is one that has more than one activity immediately preceding it.
A)Burst
B)Merge
C)Parallel
D)None of these choices are correct.
Q2) ________ activities must be completed immediately before a particular activity.
A)Merge
B)Burst
C)Predecessor
D)Successor
E)Parallel
Q3) Which of the following can be used without coordinating with managers of succeeding activities?
A)Total slack
B)Free slack
C)Critical float
D)Float pad
E)Slip pad
Q4) An activity that has more than one predecessor is a _________ activity.
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Chapter 7: Managing Risk
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Sample Questions
Q1) Which of the following is identified to cover major unforeseen risks and, hence, are applied to the total project?
A)Project reserves
B)Management reserves
C)Time buffers
D)Activity reserves
E)Budget reserves
Q2) The ________ matrix is divided into red, yellow, and green zones representing major, moderate, and minor risks.
Q3) If, during risk response development, you successfully identify how you will respond to a risk, contingency planning is unnecessary.
A)True
B)False
Q4) An uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives is known as a __________.
Q5) Flooding would be devastating to the project; however, it is very unlikely.The project manager is most likely to __________ this risk.
Q6) Identify and briefly describe the four ways to respond to identified risks.
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Chapter 8: Scheduling Resources and Costs
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Sample Questions
Q1) A project budget report is showing our project as spending $35,000 against a budgeted amount of $40,000.Which of the following is true?
A)We are spending less than we should for the project.
B)We are doing a good job managing the project.
C)We should check to see if all the bills have been paid.
D)We have more money to put into budget reserves.
E)We can't be sure how the project is going.
Q2) Splitting an activity can result in all of the following EXCEPT
A)More people working on the same activity.
B)Possible startup and shutdown costs.
C)A resource being moved from one activity to another and then back.
D)Activity work being placed on hold for a period until more resources are available.
E)A better project schedule.
Q3) Too many parallel activities for one individual is an example of a resource constraint.
A)True
B)False
Q4) Why is it critical to form a time-phased budget?
Q5) A project cost baseline is also called __________.
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Chapter 9: Reducing Project Duration
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Sample Questions
Q1) Insensitive networks are a rarity; Planning for a sensitive network is more practical.
A)True
B)False
Q2) The total cost for each time unit of a project is the sum of labor, materials, and equipment.
A)True
B)False
Q3) When reducing project duration, there will always be an optimum cost-time point where the total cost of the project is less than it was when the project was initially planned under normal conditions.
A)True
B)False
Q4) Indirect costs generally represent overhead costs such as supervision, administration, consultants, and interest.
A)True
B)False
Q5) Intense global competition and rapid technological advances combine to create a(n)________-imposed project duration date.
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Chapter 10: Being an Effective Project Manager
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Sample Questions
Q1) In terms of commonly traded organizational currencies, giving a task that could result in a promotion, acknowledging someone's effort and accomplishments, and providing opportunities for linking with others are examples of ______-related currencies.
A)Task
B)Position
C)Inspiration
D)Relationship
E)Personal
Q2) Effective time management for project managers includes initiating contact with key stakeholders only when there is a valid issue to deal with.
A)True
B)False
Q3) "All the eight traits of being a good project manager can be taught and learned." Agree or disagree? Support your conclusion.
Q4) When project managers take action before it is needed to prevent small concerns from escalating into major problems they are being _______.
Q5) A popular metaphor for the role of a project manager is that of ________.
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Chapter 11: Managing Project Team
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Sample Questions
Q1) Research indicates that high-performance project teams are much more likely to develop under certain conditions.One of these conditions is that members report solely to the __________.
Q2) ________ decision making should be used when strong commitment to a decision is needed and there is a low probability of acceptance if the decision were to be made by one person.
Q3) Researchers have found that high-performance teams have norms for team interaction.Which of the following is NOT one of those norms?
A)Hard work does not get in the way of having fun.
B)No information is shared outside the team unless all agree to it.
C)It is acceptable to be in trouble, but not to surprise others.
D)When a decision has to be made, everyone should agree before moving forward.
E)There is no tolerance for bulling a way through a problem or issue.
Q4) Team meetings, co-location of team members, team names, and team rituals are common vehicles when establishing a team _________.
Q5) High performing teams typically meet many of the characteristics outlined in the text.
A)True
B)False
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Chapter 12: Outsourcing: Managing Interorganizational Relations
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Sample Questions
Q1) A key element to any conflict management process is
A)Defined boundaries.
B)Resolution.
C)Escalation.
D)A charter.
Q2) The best defense against unreasonable, win/lose negotiators is having what Fisher and Ury call a strong __________.
Q3) The term __________ has traditionally been applied to the transferring of business functions or processes to other, often foreign, companies.
Q4) What does the acronym BATNA stand for and why is it important to being a successful negotiator?
Q5) A partnering charter states the common goals for the project as well as the procedures that will be used to achieve these goals.
A)True
B)False
Q6) Many people approach _________ as if it is a competitive process.
Q7) Not only can contracted project work be cheaper, it can also be done
Q8) What is partnering and why has it become popular for managing projects? Page 14
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Page 15
Chapter 13: Progress and Performance Measurement and Evaluation
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Sample Questions
Q1) The earned value of a project is the
A)Project cost to date adjusted for project scope changes.
B)Total project cost to date.
C)Cost incurred minus the planned cost.
D)Percent of the original budget that has been earned by actual work.
E)The planned time-phased baseline of the value of work scheduled.
Q2) What is the percent complete rule and what role does it play when developing an earned value cost/schedule system?
Q3) Progress and performance can be measured quantitatively as well as qualitatively.
A)True
B)False
Q4) Which of the following methods will measure the scheduling efficiency of the work accomplished to date?
A)SV/CV
B)EV/PV
C)EV/AC
D)AC/SV
E)AC/CV
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Q5) Baseline project budgets are derived from time-phasing the work ________.
Chapter 14: Project Closure
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Sample Questions
Q1) __________ represent an analysis carried out during and shortly after the project life cycle; they attempt to capture positive and negative project learning.
Q2) Obtaining __________ is a major and critical closure activity for the Project Manager.
A)A final invoice
B)Project deliverables
C)Delivery acceptance
D)Work unit prioritization
Q3) A Performance Appraisal generally provides
A)Assessment of a team members' efforts.
B)Rational for new assignments.
C)Developmental information for a team member.
D)None of these choices are correct.
Q4) Each retrospective is assigned a(n)__________, typically a team member who is very interested in and familiar with the retrospective.
Q5) Perhaps the _________ section of the final report is the most valuable contribution of the closure process.
Q6) Retrospective reviews should be set up in the project ___________ stage.
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Chapter 15: International Projects
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Sample Questions
Q1) When you have recovered from your sense of psychological disorientation and begin to function and communicate, you are in which of the following stages of culture shock?
A)Honeymoon
B)Gradual adjustment
C)Irritability and hostility
D)Repatriation
E)Adaptation
Q2) When you start to overcome your sense of isolation and figure out how to get things done in the new culture, you are in the gradual adjustment cycle of culture shock.
A)True
B)False
Q3) Which of the following is NOT a potential negative outcome for an international project manager?
A)Personal risk
B)Absence from home
C)Missed career opportunities
D)Adverse conditions
E)Virtual teams
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18
Chapter 16: An Introduction to Agile Project Management
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Sample Questions
Q1) Using Scrum methodology, a(n)____________ is typically made up of five to nine people with cross-functional skill sets.
Q2) _____________ represents a fundamental shift away from the traditional plan-driven project management approach by adopting a more experimental and adaptive approach to managing projects.
A)Agile project management
B)Hybrid project management
C)Uncertain project management
D)Focused project management
E)Interactive project management
Q3) When the project scope and/or technology are not fully known, things become much less predictable.
A)True
B)False
Q4) Fixed scope is part of the agile project management model.
A)True
B)False
Q5) The _______ backlog is developed and controlled by the team.It represents the amount of work the team commits to complete during the next sprint.
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