Product Development
Exam Materials
Course Introduction
Product Development is a comprehensive course that explores the process of bringing new products from initial concept to market launch. It covers key stages such as idea generation, market research, product design, prototyping, testing, and commercialization. Students will gain an understanding of customer needs, competitive analysis, design thinking, and project management, along with practical tools and strategies to innovate and improve products. Through case studies and hands-on projects, the course prepares students to successfully navigate the challenges of developing and launching products in a dynamic marketplace.
Recommended Textbook Project Management The Managerial Process 7th Edition by Erik Larson
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16 Chapters
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1624 Flashcards
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Page 2
Chapter 1: Modern Project Management
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Sample Questions
Q1) A professional certification for project managers is a Project Management Professional (PMP).
A)True
B)False
Answer: True
Q2) A professional organization for project managers is the A)PMI.
B)AMA.
C)MIS.
D)IPM.
E)PMBOK.
Answer: A
Q3) Project Management is a style that places a premium on A)building relationships.
B)including a diverse set of talent.
C)maintenance operations.
D)building relationships and including a diverse set of talent.
Answer: D
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Chapter 2: Organization Strategy and Project Selection
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Sample Questions
Q1) One who endorses and lends political support for the completion of a specific project is known as the
A)Project manager.
B)CEO.
C)Project sponsor.
D)Project lead.
E)Sacred cow.
Answer: C
Q2) A project screening matrix typically contains all of the following EXCEPT
A)The list of available projects.
B)Specific criteria.
C)Weights assigned to specific criteria.
D)Costs to complete each project.
E)All of these are typically contained.
Answer: D
Q3) Objectives should be specific, marketable, assignable, realistic, and time related.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Organization: Structure and Culture
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) There are often considerable differences in how projects are managed within certain firms, even if the same project management structure is being used.Explain.
Answer: Many researchers attribute these differences to the organizational culture.The organizational culture reflects the personality of the organization.
Q2) Organizational culture is best explained as organizational
A)Personality.
B)Hierarchy.
C)Reporting relationships.
D)Background.
E)Management style.
Answer: A
Q3) Culture performs several important functions in organizations.Clarifying and reinforcing standards of behavior is one of these.Explain and provide an example. Answer: Culture defines what is permissible and what inappropriate behavior is.These standards span a wide range of behavior from dress code and working hours to challenging the judgment of superiors.
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Chapter 4: Defining the Project
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Sample Questions
Q1) In regard to project priorities, if a project parameter such as the completion date or the cost of a project is fixed and must be met it is considered ____________.
Q2) A "Dissemination Mode" is
A)How project schedules are version controlled.
B)A description of what is important to project stakeholders.
C)What defines how project communication is to occur.
D)None of these choices.
Q3) The most detailed element in the hierarchical breakdown of the project work to be accomplished is known as the __________.
Q4) A priority matrix helps project managers manage trade-offs among time, cost and performance or scope.This helps to identify which criterion is constrained, which should be enhanced and which can be accepted.Some argue that all of these criteria are always constrained.Agree or disagree? Explain why.
Q5) Taking advantage of opportunities to reduce costs or accelerate the schedule are examples of project criteria classified as ____________.
Q6) Define scope creep.When is it good? When is it bad? Provide real-life examples of both cases.
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Page 6
Chapter 5: Estimating Project Times and Costs
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Sample Questions
Q1) Estimating the total cost of a house by multiplying the total square feet by cost per square foot is an example of the apportion method of estimating costs.
A)True
B)False
Q2) One guideline to follow when estimating time, cost and resources is to use several people to make the estimate for a task.
A)True
B)False
Q3) List and briefly describe four reasons why estimating time and cost are important to project management.
Q4) Large projects that have long time horizons and a very high complexity can be referred to as
A)Mega Projects.
B)High Risk.
C)White Elephants.
D)Both Mega Projects and White Elephants.
Q5) The estimating factor that considers the skill level of participants doing the estimating is known as the ___________ factor.
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Chapter 6: Developing a Project Plan
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Sample Questions
Q1) Bill is building a project network that involves testing a prototype.He must design the prototype (activity 1), build the prototype (activity 2), and test the prototype (activity
3).Activity 1 is the predecessor for activity 2 and activity 2 is the predecessor for activity
3.If the prototype fails testing, Bill must redesign the prototype; therefore, activity 3 is a predecessor for activity 1.This is an example of
A)Conditional statements.
B)Looping.
C)Having more than one start node.
D)Good network development.
E)Natural network flow.
Q2) Gantt charts are popular because they represent an easy-to-understand, clear picture on a time-scaled horizon.
A)True
B)False
Q3) The critical path is the shortest path through a network and indicates activities that cannot be delayed without delaying the project.
A)True
B)False
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Chapter 7: Managing Risk
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Sample Questions
Q1) This response is used to increase the potential effect of an identified Opportunity.
A)Exploit
B)Share
C)Enhance
D)Accept
Q2) What is the purpose of using tools such as a risk assessment form and a risk severity matrix?
Q3) Risk management is a reactive approach that is designed to ensure that surprises are reduced and that negative consequences associated with undesirable events are minimized.
A)True
B)False
Q4) An unanticipated event that occurs which is beneficial to a project is known as a(n) A)Management Reserve.
B)Success Factor.
C)Unscheduled Activity.
D)Positive Risk.
Q5) What is the difference between budget reserves and management reserves?
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Chapter 8: Scheduling Resources and Costs
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Sample Questions
Q1) In a resource-constrained project the third priority in assigning resources is usually given to activities with the
A)Smallest duration.
B)Least slack.
C)Most slack.
D)Lowest identification number.
E)Highest cost.
Q2) In order that the new product is on the shelf for the Christmas buying season, the development of the new product would be classified as a(n)________ -constrained project.
Q3) Resource leveling or smoothing is only used on projects which are resource constrained.
A)True
B)False
Q4) Resource dependency takes priority over the technological dependency but does not violate ___________ dependencies.
Q5) __________ is a technique that can be used to solve the combinational problem of resource allocation.
Q6) List and briefly describe the disadvantages of resource leveling or smoothing.
Page 10
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Chapter 9: Reducing Project Duration
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Sample Questions
Q1) Creation of the ___________ graph keeps the importance of indirect costs in the forefront of decision making.
Q2) Making the decision to crash is the result of careful fiscal analysis and deep understanding of the project.
A)True
B)False
Q3) Because direct costs are assumed to be developed from normal methods and in a normal amount of time, any reduction in activity time should ________ the cost of the activity.
Q4) Crashing a more expensive activity may be wise if fewer inherent risks are involved.
A)True
B)False
Q5) Direct costs are assignable directly to a particular ________.
Q6) Intense global competition and rapid technological advances combine to create a(n)________-imposed project duration date.
Q7) An activity's normal time and cost are 5 and $40, respectively.Its estimated crash time and cost are 4 and $70, respectively.This activity's crash cost per time unit is
Page 11
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Chapter 10: Being an Effective Project Manager
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Sample Questions
Q1) When project managers recognize that if they want participants to exceed project expectations then they have to exceed others' expectations of a good project manager, they are leading by example through which of the following aspects?
A)Urgency
B)Problem solving
C)Priorities
D)Standards of performance
E)Ethics
Q2) Experienced project managers recognize the need to build relationships before they need them.Why is this important?
Q3) Management is about coping with complexity; ________ is about coping with change.
Q4) It is impractical for a subordinate to "manage" a superior.
A)True
B)False
Q5) "All the eight traits of being a good project manager can be taught and learned." Agree or disagree? Support your conclusion.
Q6) The key to exercising influence is to build _______.
Q7) A popular metaphor for the role of a project manager is that of ________.
Page 12
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Chapter 11: Managing Project Team
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Sample Questions
Q1) A vision refers to an image a project team holds in common about how the project will look upon completion, how they will work together, and/or how customers will accept the project.Although they should be similar, everyone's vision will not be the same.Why not? How might having only similar visions support the project?
Q2) Which of the following would be considered the MOST effective project reward?
A)Desirable job assignments
B)Lump-sum cash award
C)All-expenses-paid trip for team members and their families
D)Using negative reinforcement to motivate adequate performance
E)Public recognition
Q3) A project team gets things done without having to go through normal protocols of the parent organization.This is an example of _____________.
Q4) When a project team will only consider a couple of solutions and ignore alternatives, this is ___________ which is a symptom of Groupthink.
A)Direct Pressure
B)Illusion of Invulnerability
C)Negative Stereotypes of Outsiders
D)Whitewash of Critical Thinking
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Page 13
Chapter 12: Outsourcing: Managing Interorganizational Relations
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Sample Questions
Q1) Which of the following is NOT an advantage of establishing a long-term partnership?
A)More efficient utilization of resources
B)Reduced administration costs
C)Improved innovation
D)Risk is eventually transferred to the other party
E)Improved performance
Q2) In the traditional method of managing projects, total company involvement requires commitment from CEO to team members.
A)True
B)False
Q3) Toyota and DaimlerChrysler collaborating with suppliers to develop new automobile platforms is an example of outsourcing.
A)True
B)False
Q4) Too often project members respond to customer inquiries with technical jargon.Project members should speak the language of the ________.
Q5) _______ satisfaction is measured by the ratio of perceived performance to expected performance.
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Chapter 13: Progress and Performance Measurement and Evaluation
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Sample Questions
Q1) The best method for assigning costs to the baseline under the 50/50 rule is to establish frequent checkpoints over the duration of the work package and assign completion percentages in dollar terms.
A)True
B)False
Q2) If the cost of labor and materials has not been separated there is additional analysis required to determine the cause of the calculated variance.
A)True
B)False
Q3) A ___________ Gantt chart is a simple and effective way to depict progress on a project.
A)Baseline
B)Control
C)Variance
D)Tracking
E)Simple
Q4) The ratio that measures the amount of value each remaining dollar in the budget must earn to stay within the budget is the _________.
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Chapter 14: Project Closure
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Sample Questions
Q1) Implementing project closure includes getting delivery acceptance from the customer.
A)True
B)False
Q2) When a project starts with a high priority but it is canceled because its rank erodes or crashes during its project life cycle.This is an example of what type of project closure?
A)Normal
B)Premature
C)Perpetual
D)Failed project
E)Changed priority
Q3) What is 360-degree feedback? How can it be useful when conducting individual performance reviews?
Q4) The ________ feedback approach gathers anonymous feedback solicited from others that is compared with the individual's self-evaluations.
Q5) Identify three reasons it is important to use an independent facilitator to collect and implement lessons learned to improve management of current and future projects.
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Page 16
Chapter 15: International Projects
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Sample Questions
Q1) A(n)________ project consists of teams formed from professionals spanning multiple countries, continents, and cultures with their work integrated for the entire enterprise.
Q2) A project that depends upon a high ratio of vendor suppliers, good roads, and other transportation modes, such as air and seaports is an example of the ______ environmental factor.
Q3) What is a guideline/caution when working with Saudi Arabians on projects?
Q4) When the new and unusual are welcomed you are experiencing which of the following stages of culture shock?
A)Honeymoon
B)Gradual adjustment
C)Irritability and hostility
D)Repatriation
E)Adaptation
Q5) One factor that is often underestimated until project personnel actually arrive at a foreign destination is the geography of the country.
A)True
B)False
Q6) A(n)________ project is one executed in a foreign country for a native firm.
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Chapter 16: An Introduction to Agile Project Management
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Sample Questions
Q1) A disadvantage of an iterative development process used in agile project management is that it is difficult to detect defects and problems early.
A)True
B)False
Q2) Traditional approaches to project management concentrate firmly on thorough planning up front.
A)True
B)False
Q3) Agile project management does not satisfy top management's need for budget, scope, and schedule control.
A)True
B)False
Q4) Identify and describe the phases included in the Scrum development process.
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.
Q6) Identify and describe two limits or concerns associated with agile project management.
Q7) _________ project management involves high customer interaction.
Page 18
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