Product Development Exam Preparation Guide
Course Introduction
Product Development explores the processes and methodologies involved in bringing a new product from concept to market. This course covers the stages of product design, prototyping, testing, and commercialization, emphasizing the integration of customer needs, market analysis, design thinking, and cross-functional teamwork. Students will learn to apply tools for idea generation, product specification, risk assessment, and project management, while examining real-world case studies and industry best practices. By the end of the course, learners will gain practical skills in developing innovative, user-centered products that address market opportunities and deliver value.
Recommended Textbook
Project Management The Managerial Process 7th Edition by Erik Larson
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16 Chapters
1624 Verified Questions
1624 Flashcards
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Chapter 1: Modern Project Management
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98 Verified Questions
98 Flashcards
Source URL: https://quizplus.com/quiz/56924
Sample Questions
Q1) 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
Q2) Describe how corporate downsizing is a driver for project management.
Answer: In flatter and leaner organizations, project management is replacing middle management as a way of ensuring that things get done.In addition, when organizations outsource work, project managers can help manage not only their own project team, but individuals tied to the project outside of the organization.
Q3) As the number of small projects increase within an organization's portfolio, what is a challenge an organization faces?
A)Sharing resources
B)Measuring efficiency
C)Managing risk
D)Prioritizing projects
E)All of these are challenges.
Answer: E
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3
Chapter 2: Organization Strategy and Project Selection
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97 Verified Questions
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Sample Questions
Q1) Strategy is implemented through projects.
A)True
B)False
Answer: True
Q2) How strategies will be realized, given available resources, is answered through
Answer: implementation
Explanation: Implementation answers the question of how strategies will be realized, given available resources.The conceptual framework for strategy implementation lacks the structure and discipline found in strategy formulation.
Q3) A project that a powerful, high-ranking official is advocating is often termed a(n)___________.
Answer: sacred cow
Explanation: Project selection may be based not so much on facts and sound reasoning, but rather on the persuasiveness and power of people advocating projects.The term "sacred cow" is often used to denote a project that a powerful, high-ranking official is advocating.
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Chapter 3: Organization: Structure and Culture
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) Two of the major disadvantages of the ________ organizational approach are that projects may lack focus and it can take longer to complete projects.
Answer: functional
Explanation: These disadvantages are particularly pronounced when the scope of the project is broad and one functional department does not take the dominant technological and managerial lead on the project.
Q2) High levels of stress and dysfunctional conflict are disadvantages of a(n)_________ organization.
Answer: matrix
Explanation: Matrix management violates the management principle of unity of command.Project participants have at least two bosses-their functional head and one or more project managers.This can result in high levels of stress and dysfunctional conflict.
Q3) When determining the most appropriate project management structure, considerations need to be made at the organizational level and at the project level. A)True
B)False
Answer: True
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5
Chapter 4: Defining the Project
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Sample Questions
Q1) Which of the following is least likely to be included in a work package?
A)How long the work package should take to complete
B)A description of work to be performed
C)Overhead expenses
D)How much the work package should cost to complete
E)The person responsible for the work package
Q2) A Responsibility Matrix will clarify A)Tasks.
B)Supports.
C)Responsibilities.
D)Both supports and responsibilities.
Q3) The fact that a new home being built must meet local building codes is an example of a limit and exclusion.
A)True
B)False
Q4) Identify and briefly describe the six elements on the recommended project scope checklist.
Q5) The need for a functioning computer in countries having different electrical systems is an example of a ________.
Page 6
Q6) What is a work package and what information does it contain?
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Chapter 5: Estimating Project Times and Costs
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101 Flashcards
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Sample Questions
Q1) If a project is internal to the company and relatively small, the bottom-up approach to estimating time and costs for the project is the best choice.
A)True
B)False
Q2) While it may be true that Mega Projects are by nature extremely difficult to estimate, another factor identified in the consistent pattern of estimating difficulties is:
A)Unidentified risks.
B)Deception.
C)Economic downturn.
D)Both unidentified risks and economic downturn.
Q3) Past experience is almost always used primarily in the initial phases of estimating.
A)True
B)False
Q4) Project estimates should be broken down into as much detail, and with as much accuracy, as possible.
A)True
B)False
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7
Chapter 6: Developing a Project Plan
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105 Flashcards
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Sample Questions
Q1) A(n)________ activity has more than one successor activity.
Q2) An activity has a duration of 10 days.Its early start is 4 and its late start is 6.This activity has _____ days of total slack.
Q3) How does the WBS differ from the project network? How are WBS and project networks linked?
Q4) 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.
Q5) ________ can never be negative and applies only to the last activity in a single chain of activities.
Q6) Identify and briefly describe the four types of lags giving an example for each type.
Q7) A network has only one critical path and the slack for noncritical activities is high.This network would appear to have a _______ level of sensitivity.
Q8) What is a Gantt chart and what advantages does it have over project networks?
Page 8
Q9) An element in the project that consumes time is a(n)___________.
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Chapter 7: Managing Risk
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98 Flashcards
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Sample Questions
Q1) When considering risk response development, reducing the likelihood that an event will occur and/or reducing the impact that an adverse event would have on a project is known as _________ the risk.
Q2) The first step in the risk management process is risk assessment.
A)True
B)False
Q3) The chances of a risk event occurring as a project proceeds through its life cycle tend to
A)Slowly rise.
B)Drop sharply and then level out.
C)Rise sharply and then level out.
D)Remain about the same.
E)Slowly drop.
Q4) Enhancing a risk is a tactic that seeks to eliminate the uncertainty associated with an opportunity to ensure that it definitely happens.
A)True
B)False
Q5) The significance of a risk is assessed in terms of the ________ and the impact of the event.
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Chapter 8: Scheduling Resources and Costs
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) In a resource-constrained project, which of the following is most likely to be changed?
A)The completion date
B)The budget
C)Project quality
D)Resource levels
E)Scope creep
Q2) What are the impacts of resource-constrained scheduling?
Q3) Jan is trying to reallocate resources in a time-constrained project to create smoother resource utilization.She should first identify activities with the A)Smallest duration.
B)Least slack.
C)Most slack.
D)Lowest identification number.
E)Highest cost.
Q4) Without a time-phased budget a good project schedule and cost control are impossible.
A)True
B)False
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Chapter 9: Reducing Project Duration
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106 Flashcards
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Sample Questions
Q1) Crashing activities on a project network that is sensitive could increase the risk of the project being late.
A)True
B)False
Q2) Creation of the ___________ graph keeps the importance of indirect costs in the forefront of decision making.
Q3) In a Project Cost-Duration Graph, total project costs are a sum of
A)Labor, material and equipment costs.
B)Direct costs plus interest.
C)Direct labor costs and the project manager's salary.
D)Direct costs and the project manager's salary.
E)Direct and indirect costs.
Q4) Given an equal level of risk and the need to reduce overall project duration, why would you NOT select the activity with the least slope, in the entire project network, to crash first?
Q5) According to ________ law, adding more manpower to a late software project makes it later.
Q6) ____________ is the rearranging of the project network logic so that critical activities are done in parallel rather than sequentially.
Page 11
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Chapter 10: Being an Effective Project Manager
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101 Verified Questions
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Sample Questions
Q1) What is "management by wandering around" and why would it be useful to project managers?
Q2) Give two advantages gained when a project manager takes the time to map relationship dependencies.
Q3) Relationship-related currencies deal with the extent to which we can help others feel a sense of importance and personal worth by sharing tasks that increase their skills and abilities.
A)True
B)False
Q4) Delivering accurate information is just as important as delivering bad news to a stakeholder.
A)True
B)False
Q5) To provide greater clarity to business ethics, many companies and professional groups
A)Encourage managers to rely on their own personal sense of right and wrong.
B)Post consequences to unethical behavior.
C)Publish a code of conduct.
D)Conduct annual training seminars on business ethics.
E)Establish a reward system for those who display ethical behavior.
Page 12
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Chapter 11: Managing Project Team
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106 Flashcards
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Sample Questions
Q1) When not going through normal protocols of the parent organization becomes habit and results in rejection of policies and procedures, this is known as which of the following project pitfalls?
A)Groupthink
B)Going native
C)Bureaucratic bypass syndrome
D)Projectitis
E)The privileged parameter
Q2) The norming stage of team development is one in which close relationships develop and the group demonstrates cohesiveness.
A)True
B)False
Q3) 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 is known as a __________.It is a less tangible aspect of project performance.
Q4) ________ 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.
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Chapter 12: Outsourcing: Managing Interorganizational Relations
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Sample Questions
Q1) Which of the following is the BEST way to ensure that cohesion and cooperation are not undermined and the parties involved will be satisfied when the project is complete?
A)Long-term outsourcing relationships
B)Good negotiation practices
C)Well-established conflict management processes in place
D)Frequent review and status updates
E)Fair and incentive-laden contracts
Q2) An organization that has identified an opportunity for long-term outsourcing can expect
A)Better communication.
B)Lowered administrative costs.
C)Improved utilization of resources.
D)All of the above.
Q3) The term __________ has traditionally been applied to the transferring of business functions or processes to other, often foreign, companies.
Q4) When both buyers and sellers rely on the blue book to establish price parameters for a used car, they are using _________ criteria.
Q5) What is partnering and why has it become popular for managing projects?
Page 14
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Chapter 13: Progress and Performance Measurement and Evaluation
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101 Flashcards
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Sample Questions
Q1) Because of their easy-to-understand visual format, tracking Gantt charts are the most favored, used, and understandable option for reporting project status.
A)True
B)False
Q2) ________ holds people accountable, prevents small problems from mushrooming into large problems, and keeps focus.
Q3) Earned value is defined as the budgeted cost of the actual work performed.
A)True
B)False
Q4) The value that tells you the planned value of work that has actually been completed is the
A)SV.
B)PV.
C)EV.
D)AC.
E)CV.
Q5) A project manager learns that her project has an EV of 1200, AC of 1100 and PV of 1000.What can the project manager report regarding this project?
Page 15
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Chapter 14: Project Closure
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Sample Questions
Q1) Within the final report, a summary that simply highlights the key findings and facts relating to project implementation is called the ___________.
Q2) Which part of the final report presents major improvement actions that should be made?
A)Executive summary
B)Review and analysis
C)Recommendations
D)Lessons learned
E)Appendix
Q3) The purpose of project __________ is to assess how well the project team, team members, and project manager performed.
Q4) The final report typically includes profit made on the project.
A)True
B)False
Q5) During the closing phase, the project manager's challenge is to keep the project team focused on the remaining project activities and delivery to the customer until the project is complete.
A)True
B)False
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Chapter 15: International Projects
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107 Flashcards
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Sample Questions
Q1) Organizations examine a number of characteristics to determine whether an individual is suitable for overseas work.The following are all examples of characteristics examined EXCEPT
A)If the candidate has work experience with cultures other than one's own.
B)If the candidate is in the position to move if necessary.
C)If the candidate is in good physical and emotional health.
D)If the candidate has knowledge of a host nation's language.
E)If the candidate has previous overseas travel.
Q2) What is a guideline/caution when working with Americans on projects?
Q3) The phase of culture shock where you become frustrated with the inability to accomplish things as you are used to doing them.
A)Honeymoon
B)Irritability and Hostility
C)Gradual Adjustment
D)Adaptation
Q4) An overseas project is one done in a foreign country for a foreign firm.
A)True
B)False
Q5) A(n)________ project is one executed in a foreign country for a native firm.
Page 17
Q6) What is a guideline/caution when working with Mexicans on projects?
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Chapter 16: An Introduction to Agile Project Management
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Sample Questions
Q1) Agile methods appear to work best on small projects that require only five to nine dedicated team members to complete the work.
A)True
B)False
Q2) _______________ is the Agile principle describes the process that teams goes through to solve problems to deliver on features expressed by the stakeholder(s).
A)Continuous Improvement
B)Experimentation and Adaption
C)Self-Organization
D)Focus on Customer Value
Q3) ___________ project management concentrates firmly on thorough planning up front.
Q4) Using Scrum methodology, specific features are created according to four distinct phases during each sprint.The last phase includes the __________ and documentation of the feature.
Q5) Identify and describe the phases included in the Scrum development process.
Q6) The ____________ facilitates the Scrum process and resolves impediments at the team and organizational level.
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