Entrepreneurship
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Course Introduction
Entrepreneurship explores the process of identifying, evaluating, and developing new business opportunities, ranging from start-ups to scaling established ventures. The course covers essential concepts such as innovation, market research, business planning, fundraising, and risk management. Students will analyze case studies, engage in hands-on projects, and learn strategies for navigating challenges faced by entrepreneurs. By the end, participants will understand how to transform creative ideas into actionable business ventures and develop an entrepreneurial mindset applicable to various industries.
Recommended Textbook
Project Management A Managerial Approach 8th Edition by Jack R. Meredith
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12 Chapters
538 Verified Questions
538 Flashcards
Source URL: https://quizplus.com/study-set/1878
Page 2
Chapter 1: Projects in Contemporary Organizations
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41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/37516
Sample Questions
Q1) The __________ of the project team is a crucial, but unstated, element of ancillary trade offs that the project manager must consider.
Answer: health
Q2) Discuss the factors that have contributed to the growth of the Project Management Institute.
Answer: The complexity of problems faced by the project manager and the rapid growth in the number project-oriented organizations has contributed to the professionalization of project management. The growth in membership reflects the growth in the use of projects as well as the importance of PMI in the development of project management as a profession. The mission of PMI is to foster the growth of project management and to build professionalism in the field. PMI is responsible for codifying the areas of learning required for competent project management. PMI also offers a certificate called the Project Management Professional (PMPĀ®)that includes a group of education, experience, and testing requirements to obtain.
Q3) Relations between organizational functions, where one function or task is dependent on others, are known as __________.
Answer: interdependencies
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Page 3
Chapter 5: The Project in the Organizational Structure
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49 Verified Questions
49 Flashcards
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Sample Questions
Q1) This person is responsible for the installation, testing, and support of the product (process)once its engineering is complete.
A)development engineer
B)systems architect
C)test engineer
D)project controller
Answer: C
Q2) The underlying principle of modern organizations is __________ of the human elements in the group.
Answer: specialization
Q3) In the __________ form of organizational structure, pure functional and pure project organizations may coexist in the firm.
Answer: mixed
Q4) A room where project teams can meet, and where the latest details on project progress will be available, is called the __________.
Answer: war room
Q5) __________ is defined as inappropriately intense loyalty to the project. Answer: Projectitis
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Chapter 2: Strategic Management and Project Selection
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39 Verified Questions
39 Flashcards
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Sample Questions
Q1) If a system is being updated due to operating necessity, the project was selected because__________.
A)the system is worth saving at any cost
B)the system is worth saving at the estimated cost of the project
C)the dimension of cost is not relevant to execution of the project
D)the cost overruns can be hidden in someone else's budget
Answer: B
Q2) Project Typhoon has a net present value of $10,000 and a profitability index of 1.01. Project Cyclone has a net present value of $10,000 and a profitability index of 1.10. If only one project could be undertaken, the organization should select __________.
Answer: Project Cyclone
Q3) The underlying premise of the real options approach is that __________.
Answer: delaying an investment may lead to greater returns or may lead to elimination of marginal projects
Q4) In a project portfolio, a project that involves a new technology or even a disruptive technology that is known to the industry would serve as an example of a __________ project.
Answer: breakthrough
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Page 5
Chapter 3: The Project Manager
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44 Verified Questions
44 Flashcards
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Sample Questions
Q1) Projects are conducted in four important environments. They are __________.
A)economic, political, legal, and sociotechnical
B)internal, external, transitional, and multicultural
C)routine, unique, fast-paced, and complex
D)profit, not for profit, government, and industry
Q2) During the buildup stage of a project lifecycle, __________ is the dominant goal of many project managers.
Q3) The project manager's responsibility to the project and to the client is met by ensuring that the __________ of the project is preserved in spite of conflicting demands made by stakeholders.
Q4) A __________ is a person who helps people overcome problems, either with technical issues or with other people.
Q5) Which of the following is NOT typically recommended to be considered when hiring new team members?
A)high-quality technical skills
B)political, and general, sensitivity
C)strong goal orientation
D)low self-esteem
Q6) The structure of a society is determined by its __________.
Page 6
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Chapter 4: Negotiation and the Management of Conflict
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44 Verified Questions
44 Flashcards
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Sample Questions
Q1) Partnering is an attempt to __________ the risk associated with sub-contracting.
Q2) Negotiating to a __________ solution is the key to conflict resolution in project management.
Q3) __________ is a method of transforming contractual relationships into a cohesive, cooperative project team with a single set of goals and established procedures for resolving disputes in a timely and effective manner.
Q4) A party to a conflict will usually be satisfied when the level of frustration has been
A)increased by the domination of the other party
B)lowered to the point where no action against the other party is contemplated
C)lowered because the party realizes the hopelessness of continuing the conflict
D)eliminated because the party has surrendered to the other party
Q5) The process through which two or more parties seek an acceptable rate of exchange for items they own or control is called __________.
Q6) The general objective of a __________ solution to conflict is to find a solution such that no party can be made better off without making another party worse off by the same amount or more.
Q7) Identify three basic causes for change in projects.
Page 7
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Chapter 6: Project Activity Planning
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39 Verified Questions
39 Flashcards
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Sample Questions
Q1) Describe the general steps recommended by the authors for designing and using the WBS.
Q2) List the seven subprocesses of project risk management.
Q3) Identify two objections commonly raised by marketing organizations against the early participation by engineering and manufacturing in the selling process to external customers. Explain how you would counter these objections.
Q4) A __________ must be submitted for any changes requested after the project plan has been approved.
Q5) A type of risk response planning where the idea is to soften the danger of the threat, by reducing the likelihood it will occur, or through reducing its impact if it does occur, implies that the project manager must __________.
A)avoid
B)transfer
C)accept
D)mitigate
Q6) A(n)__________ displays the organizational units responsible for each of the various work elements in the WBS.
Q7) Compare the risk response planning techniques for threats and opportunities.
Page 8
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Chapter 7: Budgeting and Cost Estimation
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40 Verified Questions
40 Flashcards
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Sample Questions
Q1) A work element in the project plan requires 50 hours of labor each by four carpenters. The carpenters are paid $15 per hour and incur an overhead rate equal to 80 percent of their direct labor charges. Based on this data, the appropriate cost is
Q2) __________ states that adding manpower to a late software project makes it later.
Q3) A work element whose cost is fully developed would __________.
A)exclude the cost of labor and resources
B)include only the profit and direct costs
C)exclude the cost of special machinery and overheads
D)include direct costs plus overhead and G&A charges
Q4) __________ relies on well-known statistical correlations between various factors such as the total cost of a house relative to the square feet of living area.
Q5) The determination of costs for a new process should utilize a __________, or operations sequence sheet which describes the operation in which the new process would be used.
Q6) Explain why senior managers view the bottom-up budgeting process as being risky.
Q7) Describe the top-down budgeting process.
Q8) Identify some of the common problems faced by the project budgeter.
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Chapter 8: Scheduling
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50 Verified Questions
50 Flashcards
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Sample Questions
Q1) __________ was developed by the U.S. Navy while the __________ was developed by __________.
A)PERT, CPM, DuPont
B)PERT, Gantt, DuPont
C)Gantt, PERT, U.S. Army
D)DuPont, CPM, U.S. Army
Q2) Most commercially available project management software applications use the __________.
A)GERT chart
B)Bar chart
C)AOA network
D)AON network
Q3) A(n)__________ is a point where one or more lines (arrows)begin or terminate, commonly used for depicting an event or activity.
Q4) A __________ is the conversion of the project work breakdown structure into an operating timetable.
Q5) Project task E has the following estimates: (1)optimistic time - 10 days, (2)Pessimistic time - 20 days, and (3)Most likely time - 12 Days. The expected time using the beta statistical distribution is __________ days.
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Chapter 9: Resource Allocation
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46 Verified Questions
46 Flashcards
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Sample Questions
Q1) Given a scheduling equation W = D * U, if the equation for task J is initialized so that W = 20d, D= 5d, and U = 4 resources, and task J is a non-effort-driven activity (where D is held constant when resources are changed), correctly balance this equation if the value for U is changed from 4 to 5. To balance the equation, the altered variable and its new value are __________.
Q2) Given that task A will use three carpenters and have duration of six days, task A requires __________ labor days of work.
Q3) Describe the basic procedure for resource leveling.
Q4) When we change technology, we may also be changing the level of __________ in carrying out the activity.
Q5) If the appropriate scheduling equation for task A of a project were W = D * U, and it was initialized so that W = 40d, D = 10d, and U = 4 resources, and task A is an effort-driven activity, correctly balance this equation if the value for U is changed from 4 to 5. To balance the equation, the altered variable and its new value are __________.
Q6) __________ times result from an attempt to expedite the activity by the application of additional resources.
Q7) Discuss the advantages obtained from resource leveling.
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Chapter 10: Monitoring and Information Systems
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53 Verified Questions
53 Flashcards
Source URL: https://quizplus.com/quiz/37525
Sample Questions
Q1) Conceptually, EAC represents the amount spent to date plus __________.
Q2) When collecting raw project data, it is important to make sure that all data are collected from sources that operate on the same __________ and with the same rules for data collection.
Q3) In earned value analysis, EAC refers to the __________.
Q4) For each factor to be measured during monitoring; performance criteria, standards, and __________ must be established.
A)Data collection procedures
B)Mechanized systems
C)Automated systems
D)Audit checks
Q5) According to the authors, the key items to be planned, monitored, and controlled are __________.
A)time, cost, and financial stability
B)time, quality, performance, and customer satisfaction
C)schedule, budget, and feasibility
D)time, cost, and performance
Q6) When using earned value analysis, identify the three conditions that can exist with respect to the completion of activity in a project.
Page 12
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Chapter 11: Project Control
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41 Verified Questions
41 Flashcards
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Sample Questions
Q1) Which of the following is the key feature of cybernetic control systems?
A)Manual operations
B)Directional controls
C)Automatic operation
D)Specific preconditions
Q2) Go/no-go controls operate __________.
A)continuously
B)only when exceptions are detected
C)only when and if the controller uses them
D)only at phase gate reviews
Q3) The critical ratio control chart uses a ratio made up of two parts -- the ratio of actual progress to scheduled progress, and the __________.
A)ratio of earned value to planned cost
B)ratio of budgeted cost to actual cost
C)ratio of actual cost to budgeted cost
D)ratio of planned cost to earned value
Q4) Describe the information requirements of a cybernetic controller.
Q5) A(n)__________ is a monitoring system that forewarns the project manager if trouble arises.
Q6) Postproject controls or reviews are examples of __________.
Page 13
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Chapter 12: Project Auditing
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52 Verified Questions
52 Flashcards
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Sample Questions
Q1) List the minimum points that should be contained in the formal report of a project audit.
Q2) In the Future Project Status section of the audit report, no assumptions should be made about __________ that are still under investigation at the time of the audit.
Q3) The __________ dimension of project success is measured primarily in terms of the level of commercial success and market share. For internal projects, however, the factors might include such measures as yields, cycle times, processing steps, quality, and so on.
A)business/direct success
B)customer impact/satisfaction
C)project efficiency
D)future potential
Q4) The project audit covers __________.
A)only financial matters
B)everything except operating matters
C)only ethical and financial matters
D)any matter of importance to management
Q5) Discuss some of the problems associated with finding the ancillary goals of a project.
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