Deck 12: Appendix 2: Innovation: Project Management and New Product Development

Question 1

A project is characterized by all of the following except:

A) a well-defined objective
B) a series of interdependent tasks
C) a specific time frame
D) competitor's orientation
E) degree of uncertainty

Answer 1

competitor's orientation

Question 2

In a gap analysis there should be a prioritization of the gaps using all of the following categories used except:

A) those that must be addressed
B) those that should be addressed
C) those that would be nice to address
D) those competitors are addressing
E) those that do not need to be addressed

Answer 2

those competitors are addressing

Question 3

The steps in analyzing the significance of gaps should include the following except:

A) establishing list the gaps
B) determining need and/or opportunity for each gap
C) judging feasibility of addressing gaps
D) determining which gaps competitors are now filling
E) selecting most important gaps to address and beginning to act

Answer 3

determining which gaps competitors are now filling

Question 4

The complexities that can impact the innovation process include all of the following except:

A) technological
B) market
C) development
D) organizational
E) industrial

Question 5

The characteristics of a project should include all of the following except:

A) broad and inclusive
B) realistic
C) timed for achievability
D) measurable
E) project manager identified

Question 6

In the definition stage of the project the questions that should be looked at include all of the following except:

A) Is there a strategic fit?
B) Do we understand the scope and implications of the project?
C) Do we know what we are doing next?
D) Is the industry moving in similar directions?
E) Are we moving on for good reasons?

Question 7

A Gantt chart does which of the following?

A) shows activities and how they interact
B) indicates steps to accomplish the plan and timing
C) shows the longest path of different activities
D) shows outside stakeholders that must be considered in the project
E) shows how the project interacts with other units of the firm

Question 8

A Pert chart shows:

A) activities and how they interact
B) plan and timing
C) longest path of different activities
D) outside stakeholders that must be considered in the project
E) how the project interacts with other units of the firm

Question 9

A Critical Path shows:

A) activities and how they interact
B) plan and timing
C) longest path of different activities
D) outside stakeholders that must be considered in the project
E) how the project interacts with other units of the firm

Question 10

In the development phase all of the following steps occur except how to:

A) Define a method for building the product or implementing the process
B) Evaluate the firm's resources for best practices capabilities
C) Develop a list of materials needed
D) Determine the ability of the firm to introduce the innovation along with other products and processes in the firm
E) Assume the market size necessary is there to focus on developing the best product possible

Question 11

The concept phase of innovation project management is concerned with:

A) identifying strategic gaps the firm faces
B) developing basic framework of relevant concepts to the project
C) beginning actual design of the project
D) installing/releasing new product or process
E) seeing if accomplished what intended

Question 12

The application phase of innovation project management is concerned with:

A) identifying strategic gaps the firm faces
B) developing basic framework of relevant concepts to the project
C) beginning actual design of the project
D) installing/releasing new product or process
E) seeing if accomplished what intended

Question 13

Post project review of innovation project management is concerned with:

A) identifying strategic gaps the firm faced
B) developing basic framework of relevant concepts of the project
C) beginning actual design of the project
D) installing/releasing new product or process
E) seeing if what was intended is accomplished

Question 14

Often post project review is overlooked for all of the following reasons except:

A) documentation has not been well maintained
B) too many individuals do not want to move to next project since it means learning a new job
C) there are barriers to sharing knowledge
D) team members act as individuals rather than closing team activities
E) management does not allow time for post project review

Question 15

Post project review reports should do all of the following except:

A) include an overview of project
B) include a summary of major accomplishments
C) include a final accounting of all budgets
D) include lessons learned
E) include acknowledgement that all goals were met

Question 16

Discuss the steps in an innovation project management.

Question 17

GE's long-range strategy is not based on which of the following:

A) Be global
B) Drive innovation
C) Build relationships
D) Divestment of unrelated business units
E) Leverage strengths

Question 18

GE's was founded by the inventor of its first product, the:

A) Light bulb
B) Ultrasound machine
C) Airplane engine
D) Radio
E) Locomotive

Question 19

GE's new innovation theme, Ecomagination, is focused on:

A) New processes in the building of airplane engines
B) Energy innovation
C) Development of new products in the medical industry
D) Innovation in economic and financial institutions
E) None of these choices

Question 20

GE can be seen as:

A) Being very lucky in the trends it identifies
B) Entering trends late but taking advantage of economies of scale to be successful
C) Making a wide range of organizational changes to acquire and develop new businesses and products
D) Only once making a large scale strategic mistake
E) Making strategic choices that require that the firm to lay off most of its employees at that time

Question 21

Discuss what organizational changes GE had to make as it became more diversified.