QDM Exam 1
Which of the following is a qualitative forecasting method
Delphi method
A strategy is
an action plan to achieve a mission.
Which of the following is a quantitative forecasting method?
exponential smoothing
Which of the following is a direct responsibility of the project manager?
making sure that the people assigned to the project receive the motivation, direction, and information needed to do their jobs
Which of these is NOT an advantage of outsourcing cost savings gaining outside expertise accessing outside technology potential creation of future competition
potential creation of future competition
Which of the following OM decisions determines how a good or service is produced and commits management to specific technology, quality, human resources, and capital investment
process and capacity design
Select all of the correct impacts that inflation versus stable prices might have on OM strategy below
Difficulty in predicting both the cost of production and the market demand
Which of the following is NOT a technique that allows managers to plan, schedule, and control projects?
Factor-rating method
Select all of the correct impacts that major increases in oil prices might have on OM strategy below
For the energy inefficient company, change in the competitive position. For a producer with high energy costs, change in the cost structure, result in higher selling prices.
Select all of the correct impacts that water- and air-quality legislation might have on OM strategy below.
Increasing production cost. Difficulty in using the specific technologies. Closing of numerous plants including paper mills and steel mills.
Select all of the correct impacts changes in laptop computer design that builds in wireless technology might have on OM strategy below.
Maintenance procedures need to be revised. Capital investment is added for new equipment or processes. New human resources skills.
Select all of the correct impacts technology innovation in the manufacturing process might have on OM strategy below.
Maintenance procedures need to be revised. Inventory needs to be revised. Quality standards need to be revised.
Select all of the correct impacts legislation moving health insurance from a pretax benefit to taxable income might have on OM strategy below
Operations managers get pressure to increase wages of employees in the lower pay classifications. Decrease in the take-home pay of employees by the amount of the taxes. Change in the income of employees in the lower pay classifications.
Select all of the correct impacts the maturing of a product might have on OM strategy below.
Optimum capacity may be achieved. Cost cutting is instituted. Product changes decrease Product changes decrease.
Which of the following is a reality each company faces regarding its forecasting system?
Outside factors that we cannot predict or control often impact the forecast.
Competition in the 21st century is no longer between companies; it is between
Supply Chains
Which of the following is a limitation of PERT and CPM?
There is the inherent danger of placing too much emphasis on the critical path
Select all of the correct impacts that fewer young prospective employees entering the labor market might have on OM strategy below.
Tighter job market
A forecast that projects a company's sales is
a demand forecast.
A measure of the strength of the relationship between two variables is referred to as the
coefficient of correlation.
The creation of a unique advantage over competitors is referred as
competitive advantage.
Competing on differentiation is
concerned with uniqueness.
Which of the following tasks would NOT typically represent an operations management activity at Hard Rock Café A. preparing an employee schedule B. receiving a shipment of incoming food ingredients C. filing a tax return Your answer is correct. D. designing an efficient layout
filing a tax return
With respect to PERT and CPM, slack
is the amount of time a task may be delayed without changing the overall project completion time.
Which of the following is NOT a time-series model? moving averages linear regression exponential smoothing naive approach
linear regression
The critical path of a network is the
longest time path through the network.
Among the following, critical path and slack time analysis MOST help
pinpoint activities that need to be closely watched.
Gantt charts are
planning charts used to schedule resources and allocate time.
The three phases involved in the management of large projects are
planning, scheduling, and controlling.
Which forecasting model is based upon salespersons' estimates of expected sales?
sales force composite
The economic activities that typically produce an intangible product are referred to as
services.
The forecasting time horizon that would typically be easiest to predict for would be the
short range.
PERT analysis computes the variance of the total project completion time as
the sum of the variances of all activities on the critical path.