Management of Innovation and Change Exam Bank
Course Introduction
Management of Innovation and Change explores the processes, strategies, and skills required to foster innovation and effectively manage organizational change. The course examines the dynamics of creativity, the development and implementation of innovative ideas, and the impact of technological and market disruptions on organizations. Students learn frameworks for identifying opportunities, overcoming resistance to change, and leading transformation initiatives. Through case studies and practical exercises, the course prepares students to navigate and drive change within various organizational contexts while maintaining a competitive edge in rapidly evolving environments.
Recommended Textbook
Project Management Achieving Competitive Advantage 5th Edition by Jeffrey K. Pinto
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14 Chapters
1457 Verified Questions
1457 Flashcards
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Page 2
Chapter 1: Introduction: Why Project Management
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) In the Atkinson model of project success,a project's impact to the surrounding community would be classified as:
A)An element of the iron triangle.
B)A stakeholder benefit.
C)An organizational benefit.
D)A strategic goal.
Answer: B
Q2) Which of the following types of activities is more closely associated with projects rather than processes?
A)An activity that is ongoing
B)An activity that is day-to-day
C)An activity that uses existing systems
D)An activity that establishes its own work rules
Answer: D
Q3) The Atkinson model for assessing project success gathers input from all of the project's stakeholders.
A)True
B)False
Answer: True
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Page 3
Chapter 2: The Organizational Context: Strategy, Structure, and Culture
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Which of the following is an external stakeholder group?
A)Project team members
B)Top management
C)Internal accountants
D)Environmental groups
Answer: D
Q2) The first step in Block's framework of the political process as applied to stakeholder management is to:
A)Assess your own capabilities.
B)Assess the environment.
C)Identify the goals of the principal actors.
D)Define the problem.
Answer: B
Q3) Which statement about stakeholders is BEST?
A)Stakeholders wield considerable power.
B)Stakeholders can potentially impact project development.
C)Stakeholders are external to a company.
D)By definition,clients are not stakeholders,they are customers.
Answer: B
Page 4
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Chapter 3: Project Selection and Portfolio Management
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) An internal operating issue in project screening and selection is:
A)Expected return on investment.
B)Change in physical environment.
C)Patent protection.
D)The chance that the firm's goodwill will suffer due to the quality of the finished project.
Answer: B
Q2) The pairwise comparison approach:
A)Is a method to split the weights assigned to subcriteria.
B)Is a method to compare pairs of hierarchies prior to any further analysis.
C)Is a means of achieving all project objectives within the allocated time frame.
D)May be used instead of AHP if time is limited.
Answer: A
Q3) Internal rate of return is preferable to net present value because IRR employs a weighted average cost of capital discount rate that reflects potential reinvestment.
A)True
B)False
Answer: False
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5
Chapter 4: Leadership and the Project Manager
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) The idea that all members of a project team have the ability to offer a contrary position in order to achieve true partnership between the project manager and the team is called:
A)Exchange of purpose.
B)A right to say no.
C)Joint accountability.
D)Absolute honesty.
Q2) Describe the four elements of the Project Management Institute's Code of Ethics and provide an example of one element within a project management context.
Q3) What are some ways project managers can acquire additional resources if they feel their project lacks sufficient support?
Q4) Communicating is an important aspect of a project leader's job and what better way to do so than through project meetings! What purposes do project team meetings serve?
Q5) Someone with a polychronic preference functions in two different temporal orientations,such as past and present.
A)True
B)False
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Chapter 5: Scope Management
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Sample Questions
Q1) The windmills of Mykonos were lovely,so Lisa contracted with an architectural firm to build one in the west pasture.Once the windmill had been built and was operational,the project team looked back at how they had managed to stay on schedule and what budget variances existed along the way.The windmill was pumping as promised,an honest two gallons per minute just as they had design it.Closeout documentation of this type is considered:
A)Historical records.
B)Financial closeout.
C)Hierarchy reporting.
D)Post-project analysis.
Q2) What is the difference between a turnkey contract and a cost-plus contract? Include in your discussion the advantages and disadvantages of each.
Q3) The cat-skinning project management team considers the many ways to accomplish their objective before settling on one technique as part of their:
A)Information gathering step.
B)Need statement step.
C)Project objectives step.
D)Alternative analysis step.
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Chapter 6: Project Team Building, Conflict, and Negotiation
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102 Verified Questions
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Sample Questions
Q1) "Loose Cannon" Buchanan said and did whatever he wanted,which was usually at odds with the behavior of the rest of the business faculty.An appropriate mechanism for bringing him into alignment with the rest of the team is:
A)Issuing superordinate goals.
B)Creating a formalized set of rules.
C)Making sure he was in close proximity to the rest of the faculty.
D)Have the team adopt his aberrant behavioral patterns.
Q2) Two research studies conducted over a decade apart discovered that the major sources of conflict within project teams are:
A)Schedules and project priorities.
B)Personalities and cost.
C)Human resources and technical opinions.
D)Administrative procedures and budget.
Q3) Choose an example project from the current or very recent business literature.Sketch a graphical version of Gersick's model of punctuated equilibrium and label the curve and both axes.
Q4) What are three options to consider when searching for win-win alternatives in negotiation? How does each option work?
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Page 8
Chapter 7: Risk Management
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102 Flashcards
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Sample Questions
Q1) The overall risk factor for the project is known to be 0.5.The individual failure probability and consequence scores are not known with certainty,only that all of the failure probability scores are identical and all of the consequence scores are identical.What are the individual failure probability scores? \[\begin{array} { | l | l | l | l | }
\hline \text { Maturity } & \mathbf { X } & \text { Cost } & \mathbf { Y } \\
\hline \text { Complexity } & \mathbf { X } & \text { Schedule } & Y \\
\hline \text { Dependency } & \mathbf { X } & \text { Reliability } & \mathbf { Y } \\
\hline & & \text { Performance } & \mathbf { Y } \\ \hline \end{array}\]
A)0.316
B)0.267
C)0.236
D)0.347
Q2) What are the two types of contingency reserves and how are they handled?
Q3) The risk is highest in the earliest phase of the project life cycle. A)True B)False
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9
Chapter 8: Cost Estimation and Budgeting
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Sample Questions
Q1) A normal cost is incurred when:
A)Overtime is used more than originally planned.
B)Shipments are expedited.
C)Additional temporary workers are brought on site.
D)The aggressive baseline plan is adhered to.
Q2) A systems analyst is paid at the rate of $50/hour and will be needed for 40 hours.Her employer uses an overhead multiplier of 60% and does not factor in personal time.Her total direct labor cost should be billed at:
A)$2,000.
B)$3,200.
C)$1,250.
D)$4,500.
Q3) How are top-down and bottom-up budgets created? What advantages does each approach hold over the other?
Q4) What are parametric cost estimates and how are they developed?
Q5) What's the relationship between WBS,scheduling,and budgeting?
Q6) An expedited cost is one that does not vary with respect to their usage.
A)True
B)False
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Q7) What are four major categories of costs? Provide descriptions for each category.
Chapter 9: Project Scheduling: Networks, Duration
Estimation, and Critical Path
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Sample Questions
Q1) Activity float is the difference between the late finish and early finish for the activity in question.
A)True
B)False
Q2) What is the background of CPM and PERT? What are the differences between the two techniques?
Q3) Activities C,D,and E in the project represented by the network are to be hammocked.What is the activity length of the hammock activity?
A)20
B)16
C)13
D)11
Q4) Laddering is a technique that allows the project manager to redraw the network to more closely sequence project subtasks to make the overall network sequence more efficient.
A)True B)False
Q5) What does a network diagram illustrate and why are they important in project management?
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Chapter 10: Project Scheduling: Lagging, Crashing, and Activity Networks
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Sample Questions
Q1) What are the strengths and weaknesses of AOA and AON techniques?
Q2) AOA networks have an advantage over AON networks:
A)If the project is complex.
B)Because they are easier to read for novices.
C)When it comes to software packages for project management.
D)When the task of network labeling is considered.
Q3) Most activity estimations using PERT methods lead to overly optimistic activity duration estimates.
A)True
B)False
Q4) What is project crashing and what are three reasons why it might be important to do so?
Q5) Networks are adaptable and useful for all scheduling challenges that an organization faces.
A)True
B)False
Q6) Gantt charts can display early start or late start logic.
A)True
B)False
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Chapter 11: Advanced Topics in Planning and Scheduling:
Agile and Critical Chain
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Sample Questions
Q1) The one element that Agile shares with traditional project management in a software development environment is that all testing is done at the very end of the project.
A)True
B)False
Q2) What are the formal steps to apply CCPM to multiple project portfolios?
Q3) Organizations recognize that moving to Agile methods can result in improved project delivery speed,in-process change management,and quality.
A)True
B)False
Q4) The one element that Agile shares with traditional project management in a software development environment is that all testing is done at the very end of the project.
A)True
B)False
Q5) Goldratt's solution to the variables involved in project scheduling involves the aggregation,or collectivizing,of all project risk in the form of uncertain duration estimates and completion times.Provide practical examples of how this aggregation works to the benefit of the overall project.
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Chapter 12: Resource Management
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Sample Questions
Q1) The project described in the table uses the same resource for activities A,B,C,and D.Which activity gets first use of this resource if we assign the resource based on the activity with the shortest duration? \[\begin{array} { | l | l | l | l | }
\hline \text { Dctivity } & \text { Duration } & \text { Predecesser } & \text { WBS ID } \\
\hline \text { W } & 4 & - - & 12 \\
\hline \text { A } & 3 & \text { W } & 16 \\
\hline B & 4 & \text { W } & 15 \\
\hline \mathrm { C } & 5 & \text { W } & 13 \\
\hline \mathrm { D } & 6 & \text { W } & 14 \\
\hline \mathrm { E } & 1 & \mathrm {~B} & 17 \\
\hline \mathrm { Z } & 1 & \mathrm {~A} , \mathrm { E } , \mathrm { C } , \mathrm { D } & 18 \\
\hline
\end{array}\]
A)Activity A
B)Activity B
C)Activity C
D)Activity D
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Chapter 13: Project Evaluation and Control
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Sample Questions
Q1) Use the data to calculate the earned value for the project.All amounts are in thousands of dollars. Duration (weeks)
\[\begin{array} { | l | l | l | l | l | l | l | }
\hline & 5 & 10 & 15 & 20 & 25 & \% \mathrm { Comp } \\
\hline \text { Conceptual desiern } & 10 & 6 & & & & 100 \% \\
\hline \text { Craphics desigrl } & & 12 & 6 & 4 & & 75 \% \\
\hline \text { Copyright } & & & 4 & 5 & 6 & 5 \% \\
\hline \text { Zarmples } & & & 4 & 2 & & 25 \% \\
\hline \text { Toolirg } & & & 6 & 9 & 4 & 10 \% \\
\hline \text { Production } & & & 2 & 6 & 14 & 10 \% \\
\hline \text { Total } & 10 & 18 & 22 & 26 & 24 & \\
\hline \text { Currulative } & 10 & 28 & 50 & 76 & 100 & \\
\hline
\end{array}\]
A)$38,850
B)$43,250
C)$54,750
D)$100,000
Q2) What are drawbacks to a pure S-curve analysis?
Q3) Define human factors and discuss their impact on project success?
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Chapter 14: Project Closeout and Termination
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Sample Questions
Q1) In the United States,a Private Finance Initiative is used to protect the excessive financial exposure of a contracting agency to a project being developed.
A)True
B)False
Q2) In non-binding arbitration:
A)The judge can offer suggestions for dispute resolution but cannot enforce these opinions.
B)The two parties agree to open up,or unbind,their books for inspection by the other party.
C)The client and project organizations both agree to perform exactly what the judge decrees.
D)The client and project organizations are not bound by the rules of law.
Q3) Static factors that may play a role in the decision to terminate a project early include company image and the presence of high sunk costs.
A)True
B)False
Q4) What are any four items that prevent effective project closeouts and how can each be avoided?
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