CM 443 PROCORE QUIZ WITH VERIFIED SOLUTIONS.

Once you decide on a name for your business, which of the following is the first action you should take? Form a corporation or a limited liability company Which of the following is the first step in business planning? Performing a SWOT analysis Brainpower Read More Before entering a joint venture or partnership it is important to establish terms on: Both a & b (Management & Capital Contribution) What is the basis for a strategic plan? Both b & c (It should outline a plan built upon marketing position and potential threats & It should address the 10 year vision for your business) Fill in the blank: A CEO is primarily concerned with _________, A strategic plan Fill in the blank: A marketing plan should _________. Be supported by the business developer In between the time that project leads are generated and contracts are established, which of the following can be used to leverage marketing? Direct Mail Fill in the blank: Business Development is an art because it consists of _____. Both a & c (Image-building & Relationship development) Fill in the blank: Business development is a science because it consists of _____. Both a & b (Consulting & Turning relationships into project opportunities) Typically how long is the Long Sales Cycle in construction? Between 6 months and several years What is intrapreneurship? Starting a business within the confines of an existing business Multiple Answer: Which of the following do both intrapreneurial firms and venture capital firms provide? Advice; Seed Money Which of the following is a reason big businesses often fail when implementing new branches or businesses within their business? All of the above When creating a new business unit, what is the first phase? Strategy In which of the following phases of business creation does a team take on the full responsibility of a business unit? Launch Funding Which of the following would be an example of "micro seed innovation"? Providing employees within a company with a fixed amount of discretionary funds to start their own intrapreneurial ventures Multiple Answer: When you start a new job you often sign an employer agreement that outlines which of the following? Rules against using company resources for personal work; Intellectual Property Rights Fill in the Blank: A non-disclosure agreement allows you to ______. Discuss ideas with other parties and ensure your intellectual property is protected Which of the following is a type of intellectual property protection? All of the above Once you receive funding for your intrepreneurial venture, what is the next step you should take? File for the type of business formation that makes the most sense for our organization or partnership A habit is an acquired mode of behavior that has become nearly or completely ________ . Involuntary Select All That Apply: What are the 3 components of a habit loop? Cue, Routine, Reward Which of the following is one of the 7 Lean Construction Principles? All of the above are Lean Construction Principles Which of the following Lean Construction Principles encourages employees to learn from manageable failures by embracing the acronym F.A.I.L. (First Attempt In Learning)? Continuously Improve According to Lean Construction Principles, waste is anything that does not add value to the customer. True According to the Scrum Framework, how can you build and increase the work capacity of your business? Recognize and take action against waste What are the 3 pillars of the Scrum framework? Transparency, Inspection, Adaptation What are the Scrum values? Respect, Openness, Courage, Focus, Commitment What is true about the product backlog? The product backlog lists everything the team needs to accomplish in the upcoming sprint; The product backlog improves communication effectiveness; The product backlog is created before the sprint begins The phrase, "Walk the Board" refers to the process of reviewing your scrum board in the daily scrum (stand up). Which of the following is a question you can ask yourself and your team during the daily scrum (stand up)? All of the above What percentage of Owners, General Contractors, and Trade Contractors have experienced a dispute or claim in the last 5 years? More than 50% Which of the following do Trade Contractors rank as the issue that has the greatest impact on their business? Warranty Issues True or False: Owners, General Contractors, and Trade Contractors equally rank construction defects as the dispute/claim that has the greatest impact on their businesses. False Which of the following is not one of the top three post-recession risks for contractors? Owners transferring risk to themselves Which of the following is considered to be the top risk evaluation strategy? Formal brainstorming with the team Which of the following is considered an obstacle preventing use of more risk management practices? All of the above True or False: There is an increased tendency for clients to shift project risk to contractors. True which of the following can help contractors combat an increased shift of project risk from clients to contractors Increase risk management strategies