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Lean Business Methodology Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. Which of the following is NOT the benefit of lean thinking in lean portfolio management?

Question 2 2. Work interruptions are easy to handle if:

Question 3 3. The components in a lean portfolio management process are driven by:

Question 4 4. Lean thinking helps in managing the project portfolio by:

Question 5 5. The lean thinking technique defines value from the perspective of the:

Page 2

Question 6 6. Josef has managed to make his company's product development process leaner by cutting down the time and money spent on the process. He believes he's achieved lean product development and is therefore finished. Is he correct?

Question 7 7. Vaya's employees don't communicate with each other very well. To help smooth the design process, Vaya has decided to create small teams of employees from different departments. Vaya is engaging in which guiding principle of lean product development?

Question 8 8. Eun wants to implement lean product development at her company. She's heard that many of her customers would like the same product in a variety of colors, so she's tasked her team with developing products in a variety of colors. Eun is demonstrating which principle of lean product development?

Question 9 9. Darius has discovered that his product development team spends a lot of time narrowing down possible product features before designing a product. To make his product development lean, Darius has developed a faster process for choosing the most important product features. Darius is demonstrating which principle of lean product development?

Question 10 10. Sam owns a business that only manufactures products when they are ordered. Meanwhile, Jenni owns a business that invents new products with very little time. While both of them are running _____ businesses, Sam is focused on _____, while Jenni is focused on _____.

Page 3

Question 11 11. Which statement best characterizes the relationship between the philosophies of lean and agile?

Question 12 12. Stephen is an operations manager for a commercial airline. Although he has the authority to make unilateral decisions, he prefers to have small, but highly-skilled groups of subject matter experts tackle a problem. Which business agility principle is Stephen demonstrating?

Question 13 13. Which lean business agility pillar involves managing the project portfolio with an emphasis on prioritizing resource allocation?

Question 14 14. Harley is the regional manager for a large rental car company. She has noticed that her store is not turning around rentals fast enough. If she is committed to the pillars of business agility, she will go through the _____ before making major adjustments to the process.

Question 15 15. Gerald owns an all-you-can-eat pizza buffet. His overall goal for a business day is to make enough pizza for each customer to have all the food they want, but not so much that he has to throw away a lot of extra pizza. What lean business agility concept does this characterize?

Page 4

Question 16 16. Which of the following box titles belong solely to the Lean Canvas?

Question 17 17. What is a Lean Canvas?

Question 18 18. Who is the creator of the Lean Canvas?

Question 19 19. The original Business Model Canvas included a box to list Key Partners. This box title was changed to _____ in the Lean Canvas in order to focus the user on the product to be produced instead of eliciting partners for the business upfront.

Question 20 20. The three key principles of the Lean Canvas are:
  1. Speed of use
  2. Focus on high-risk factors
  3. Prioritize _____

Page 5

Question 21 21. Hamish is CEO of a company that has many different product lines. Hamish has decided to implement lean portfolio management for their product portfolio. To do so, Hamish should focus on _____.

Question 22 22. Kiara owns a company that makes office furniture. She's decided to implement quarterly planning for product development. Thus, when Kiara's company develops and designs a new type of standing desk, the timeline for the product development cycle should be _____.

Question 23 23. Leila is the CEO of a company. One of her senior staff is trying to talk Leila into implementing lean portfolio management. Which of the following is a reason Leila's coworker might use to convince her?

Question 24 24. Aamir owns a company that designs software for businesses. They currently have a bookkeeping software that they're developing and are working on a prototype. Aamir's company is in the _____ stage of the product development cycle.

Question 25 25. Kako is the head of development for a company that designs covers for books and DVDs. For Kako's department to develop and design the covers, they have to go through the product development cycle. This includes the three steps that can be summarized as _____.

Page 6

Question 26 26. A lean startup practitioner would NEVER _____.

Question 27 27. The CEO of a lean startup firm would MOST LIKELY hire someone who is/has _____.

Question 28 28. Let's say you're keen on using the lean startup method to create a new product. You _____.

Question 29 29. Which of the following is a key principle of lean startups?

Question 30 30.

The lean startup method relies on as little as possible of _____.

I. time

II. money

III. personnel

Lean Business Methodology Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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