Innovation Management
Final Test Solutions
Course Introduction
Innovation Management explores the strategies, processes, and tools organizations use to foster and manage innovation in products, services, and business models. The course examines key concepts including types of innovation, the role of organizational culture, and the challenges of nurturing creativity in dynamic environments. Students will learn how to develop and implement innovation strategies, manage innovation portfolios, and use frameworks to evaluate and measure innovative initiatives. Real-world cases and practical exercises illustrate how firms across industries manage the risks and rewards of innovation, enabling students to become effective leaders of innovation-driven growth.
Recommended Textbook
Project Management Process Technology and Practice 1st Edition by Ganesh Vaidyanathan
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12 Chapters
960 Verified Questions
960 Flashcards
Source URL: https://quizplus.com/study-set/2154
Page 2
Chapter 1: Projects and Project Management
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80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/42931
Sample Questions
Q1) Each of the following is an underlying dimension encompassing almost all aspects of technology <b>except</b>
A)interdependence.
B)uncertainty.
C)complexity.
D)distribution.
Answer: D
Q2) The number of products or operations that are performed at the same time and the resulting degree of difficulty best defines
A)complexity.
B)interdependence.
C)uncertainty.
D)product count.
Answer: A
Q3) Politics and conflicts can lead to overall project failure.
A)True
B)False
Answer: True
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Chapter 2: Process and Methods
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) A systematic method to continuously augment how organizations conduct business and projects best defines
A)process improvement.
B)product improvement.
C)value chain improvement.
D)business process reengineering.
Answer: A
Q2) Assessing the value and performance of the project and surveying satisfaction are associated with the
A)planning process group and the time management knowledge area.
B)initiating process group and the human resource management knowledge area.
C)controlling process group and the scope management knowledge area.
D)closing process group and the communications management knowledge area.
Answer: D
Q3) Each of the following is an objective of the CMMI Level 2 <b>except</b>
A)identify and control requirements,specifications,and test plans.
B)document and control all changes in software projects.
C)use a reactionary approach to projects.
D)keep software activities consistent with system requirements.
Answer: C
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Chapter 3: Project Management Tools
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80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/42933
Sample Questions
Q1) A simple bar graph where the y-axis represents frequency of occurrence best describes
A)Pareto chart.
B)NGT.
C)affinity diagram.
D)check sheet.
Answer: A
Q2) Each of the following is a true statement about TMAP <b>except</b>
A)TMAP is an initial process used to generate ideas in order to accomplish project goals and a visual representation of an entire team's thoughts,ideas,and questions relative to accomplishing the project goal.
B)TMAP presents a structure of information and helps a team progress through the project process.
C)TMAP is a static document that does not change throughout the project,thus serving as a baseline representation of the project.
D)TMAP allows team members to refer back to how,why,and when decisions were made. Answer: C
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Chapter 4: Project Initiation
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) Which stakeholders have high influence but have some or no interest in the project?
A)promoters
B)shapers
C)advocates
D)observers
Q2) Steps involved in generating a mind map include
A)continuing until no more risks can be identified.
B)begin by drawing a circle that represents a risk category.
C)for each major risk,identify smaller risks that are part of that risk.
D)all of the above.
Q3) A capability of a system,product,or service to include the quantified and documented needs and expectations of the sponsor,customer,and other stakeholders best defines
A)task.
B)requirement.
C)process.
D)activity.
Q4) Identify five ways that project requirements may be gathered.
Q5) Define project scope.What does the scope document contain?
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Chapter 5: Project Planning
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80 Flashcards
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Sample Questions
Q1) At a minimum,a milestone will have a duration of at least one day. A)True
B)False
Q2) List the basic steps to create a delivery-based WBS structure.
Q3) Factors that can be used to evaluate scorecards include each of the following <b>except</b> A)resources. B)results. C)value.
D)schedule.
Q4) Project documents associated with the integration management knowledge area include A)project schedule. B)requirement document. C)statement of work. D)activity cost estimates.
Q5) The sharing ratio is the negotiated fee in a contract assuming the target cost is met. A)True B)False
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Chapter 6: Risk Management
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) Project risk and professional risk are two risk categories pertaining to project managers.
A)True
B)False
Q2) Which of the following is not an internal risk?
A)material shortage
B)technology
C)equipment
D)time
Q3) Accepting risk,transferring risk,and avoiding risks are ways of managing risk.
A)True
B)False
Q4) PFMEA is based on computing a risk score based on occurrence of a risk,outcome of a project if the risk event occurs,and the possibility of detection of that risk event.
A)True
B)False
Q5) What are the outputs of risk monitoring and control?
Q6) How can qualitative risk assessment be accomplished?
Q7) Identify five ways that risks associated with resources can be reduced.
Page 8
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Chapter 7: Quality, Performance and Value
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) A project organization must apply quality standards and quality management at the organizational,process,and project levels.
A)True
B)False
Q2) A review of the quality plan to determine whether the project activities comply with organizational and project policies,processes,and procedures defines
A)quality audit.
B)benchmarking.
C)risk management.
D)configuration management.
Q3) Define metric.In order to be widely used in an organization,what must a metric do?
Q4) With random sampling,larger sample sizes generally lead to increased precision.
A)True
B)False
Q5) According to the textbook,scholars have viewed cost,time,and quality as the success criteria to project performance.
A)True B)False
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Chapter 8: Project Scheduling
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) The amount of time that an activity in a project network can be delayed without causing a delay to subsequent activities or project completion best defines
A)restricted flow.
B)task obstruction.
C)capacity.
D)slack.
Q2) Each activity can be crashed at least once.
A)True
B)False
Q3) Causing a delay to the whole project is called
A)acquired float.
B)total float.
C)accumulated float.
D)negative float.
Q4) Which of the following is the delivery of a project scope?
A)quality functional deployment
B)project schedule
C)burndown chart
D)thought process map
Q5) What is PDM? Why is it useful?
10
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Chapter 9: Resources, Costing, and Control
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) A potential benefit given up when one activity is selected over another best defines A)sunk costs.
B)variable costs.
C)opportunity costs.
D)reflective costs.
Q2) The planning out of the resources used to execute the project best defines A)systems design.
B)capital management.
C)feasibility analysis.
D)resource planning.
Q3) Which of the following prepares a detailed estimate from well-developed plans and real quotes?
A)BAC
B)AHE
C)ROME
D)DE
Q4) If the SPI is .5,then the project is ahead of schedule.
A)True
B)False
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Chapter 10: Project Closure
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80 Flashcards
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Sample Questions
Q1) Poor internal communication is an epistemological barrier to learning from post-project reviews.
A)True
B)False
Q2) Which of the following is used to demonstrate the feasibility of the project?
A)blueprint
B)contract
C)proof of concept
D)word-of-mouth
Q3) Team-based barriers to learning from post-project reviews include
A)the inability to reflect.
B)difficult to generalize.
C)time constraints.
D)reluctance to blame.
Q4) A project does not have to be closed.
A)True
B)False
Q5) Project audits are usually initiated at ad hoc times.
A)True
B)False
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Chapter 11: Project Organizational Structures
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80 Flashcards
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Sample Questions
Q1) A project manager has little formal authority and may provide some input to performance reviews in the A)balanced matrix.
B)weak matrix.
C)star matrix.
D)strong matrix.
Q2) The project lifespan stage where team members have built strong relationships and trust each other best describes A)forming.
B)storming.
C)norming.
D)performing.
Q3) The extent to which an individual or project team is answerable to the project stakeholders and provides visible evidence of actions best defines A)reliability.
B)authority.
C)responsibility.
D)accountability.
Q4) Identify the eight main areas in which a PMO is expected to function.
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Chapter 12: Project Success
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80 Flashcards
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Sample Questions
Q1) Skills important to the project manager include A)technical skills.
B)business skills.
C)interpersonal skills.
D)all of the above.
Q2) During the project,a project manager may interact with A)peers.
B)suppliers.
C)lateral superiors.
D)all of the above.
Q3) Good listeners interrupt the speaker when they have an important question. A)True
B)False
Q4) Project manager activities include each of the following <b>except</b>
A)exchanging information.
B)influencing.
C)sourcing.
D)developing.
Q5) Identify five trait categories for a project manager.Identify two traits for each category.
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