Business And Project Management Process Quiz!

12 Questions | By Alfredhook3 | Updated: Mar 21, 2022 | Attempts: 236

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Business And Project Management Process Quiz! - Quiz

Questions and Answers

1.

Feasibility analysis consists of 4 interrelated components.
- A.
  
  True
- B.
  
  False
2.

Is an original, function model of a new product that entrepreneurs can put into the hands of potential customers:
- A.
  
  Focus groups
- B.
  
  Customer surveys and questionnaires
- C.
  
  Prototypes
3.

The benefit (profitability measure) to an investor resulting from an investment of some resource:
- A.
  
  Return on Investment
- B.
  
  Estimated Earning
- C.
  
  Time Out of Cash
4.

The step in the planning process in which the entrepreneur tests the concept and uses what it learned from the real customers to refine the business model:
- A.
  
  Estimated Earning
- B.
  
  Entrepreneur / Team Feasibility
- C.
  
  Developing and Testing a Business Model
5.

Value proposition is:
- A.
  
  The collection of products and/or services the business will offer to meet the needs of the customers
- B.
  
  It is all the things that will set the business apart from its competitors
- C.
  
  Both A+B
6.

The process of making changes and adjustments in the business model on the basis of the feedback a company receives from customers:
- A.
  
  Pivots
- B.
  
  Cost structure
- C.
  
  Revenue stream
7.

Define how the customers seek out information about this type of product:
- A.
  
  Distribution channels
- B.
  
  Communication channels
8.

Define the most effective way to get products to the customers for this type of business:
- A.
  
  Distribution channels
- B.
  
  Communication channels
9.

Changes to the product to enable it to better meet the needs and wants of the customer:
- A.
  
  Customer pivot
- B.
  
  Revenue model pivot
- C.
  
  Product pivot
10.

Changes in the target customer description:
- A.
  
  Customer pivot
- B.
  
  Product pivot
- C.
  
  Revenue model pivot
11.

Prototypes point out potential problems in a product:
- A.
  
  Price
- B.
  
  Design
- C.
  
  Color
12.

Asking the question, "Is this idea right for me?" is part of the process assessing:
- A.
  
  Entrepreneur / Team Feasibility
- B.
  
  Financial Feasibility
- C.
  
  Product or service Feasibility