POM Exam 1

total quality management (tqm) became popular during what time frame -2000s -1980s -1890s -1790s

1980s

which of the following is an example of a service business? -a home builder -a call center -an automobile manufacturer -a computer manufacturer

a call center

what is the major assumption when determining the cost per unit of time to expedite each activity -normal time is less than or equal to crash time -a strong correlation between time and cost -a normal relationship between time and cost -a linear relationship between time and cost

a linear relationship between time and cost

what are the essentials features of any earned value management (evm) system? check all that apply -the project have one, and only one, critical path -a valuation of each activity work. in the case of a project that generates -predefined earning or costing rules to quantify the accomplishment of work -a project plan that identifies the activities to be accomplished -all of the activities in the project have slack

a valuation of each activity work. in the case of a project that generates, predefined earning or costing rules to quantify the accomplishment of work, and a project plan that identifies the activities to be accomplished

which of the following is a term to refer to pieces of work that consume time? -package -task -activity -bundle

activity

this type of map can be useful in understanding how good the fit is between the system of activities and the company's strategy -tactical maps -activity-system map -cause-and-effect map -competitive maps

activity-system map

a tool that shows how a company's strategy is delivered through a set of tailored activities is called a -process map -activity/tactic/strategy maps -flowchart -activity-system maps -framework

activity-system maps

the triple bottom line is economic prosperity, environmental stewardship, and social responsibility. modern companies need to focus on which aspect of the triple bottom line? -social and economic -social and environmental -economic and environmental -all of them

all of them

gantt charts show which of the following? -amount of time and sequence of activities -resources -resources and amount of time -sequence of activities -amount of time

amount of time and sequence of activities

a gantt chart is sometimes referred to as what? -network chart -bar chart -line chart -CPM chart

bar chart

a hospital wishes to improve its patient check in process by studying the check in process at a local five star hotel. what is this called? -redesign -benchmarking -competitive analysis -process design

benchmarking

a process in which one company studies the processes of another company for best practices is known as -benchmarking -reengineering -profiting -optimizing

benchmarking

what involves the analysis of data to better solve business problems? -supply chain management -business analytics -information technology -operations management

business analytics

which of the following is not a step in the risk management process? -develop plans to mitigate risk -identify sources of potential disruptions -create an activity-system map -assess the potential impact of the risk

create an activity-system map

the competitive dimension that deals with getting the product to the customer when promised is -after-sale support -delivery speed -flexibility -delivery reliability

delivery reliability

which of the following types of projects represents the least amount of change? -derivative projects -breakthrough projects -platform projects

derivative projects

which technique combines measures of scope, schedule, and cost for evaluating project progress? -earned value management -project milestones -time-cost models -project management

earned value management

doing the things that will create the most value for the company is known as -quality -value -effectiveness -efficiency

effectiveness

what refers to the use of the internet as an essential element of business activity? -cloud computing -electronic commerce -B2C commerce -B2B commerce

electronic commerce

which of the following is not an effiency measure used by wall street -inventory turnover -asset turnover -receivables turnover -employee turnover

employee turnover

the ___ activity time is calculated using a weighted average of a minimum, maximum, and most likely time estimate

estimated

T/F: benchmarking must be performed with a company in the same industry

false

T/F: stakeholders are individuals or companies that legally own a portion of the company and are not influenced by the actions of that company

false

t/f: a firm can excel simultaneously on all competitive dimensions

false

t/f: each activity in the strategic planning process is conducted only once a year

false

how many immediate predecessors does an activity have -none -one -two -three or more -it depends

it depends

what are the four points in time that we need to calculate for each activity in the project? -late start time -critical path -early finish time -duration

late start time and early finish time

straddling occurs when a company seeks to match the benefits of a successful position while maintaining its existing position. which of the following is not something a firm my try when using the straddling approach? -add new services -add technology -lowering price -add new features

lowering price

which of the following is not a form of matrix project? -balanced -major -strong -weak

major

a common set of financial indicators that wall street tracks to benchmark companies are called what -management efficiency ratios -income statement -days of supply of inventory -inventory turns -balance sheet

management efficiency ratios

order winners and qualifiers represent a link between operations and what other business function? -marketing -engineering -finance -accounting

marketing

which of the following is not a type of process in the supply chain? -planning -making -sourcing -marketing

marketing

identify the three main forms of project -matrix project -expansion project -pure project -functional project

matrix, expansion, functional

a company known for delivering high-volume standardized services -warner brothers entertainment -mcdonald's -northside hospital -ford motor company

mcdonald's

product-service bundling refers to a company building service activities into it product offerings for its customers. which of these service activities would not be included in the product-service bundle? -training -spare part provisioning -product design -maintenance

product design

rank the following terms in regards to a project from the highest level down to the lowest -subtask -work package -project -task -program

program project task subtask work package

which of the following is defined as a series of jobs usually directed toward some major output and requires a significant period of time to perform? -crashing -pure project -project management -project

project

a specific event that should be reached at a certain point in time are often referred to as? -project milestone -functional projects -work packages -tasks

project milestone

which of the following can be part of a statement of work? check all that apply. -who will be assigned to the project -proposed schedule -performance measures -cost -proposed starting and ending dates -objectives to be achieved -work to be done

proposed schedule, performance measures, proposed starting and ending dates, objectives to be achieved, and work to be done

a project where all members of the team work on the project full time is an example of which project organizational structure? -process -matrix -pure -functional

pure

where does a steel mill fall on the goods-service continuum? -pure goods -core services -pure services -core goods

pure goods

where does a hospital fall on the goods-service continuum? -pure services -pure goods -core services -core goods

pure services

which of the following are required for a project? check all that apply -requiring a significant period of time -taking at least six months -having a major output -using project management software -series of related jobs

requiring a significant period of time, having a major output, and series of related jobs

what tool involves assessing the probability or relative frequency of an event against the aggregate of the loss? -risk strategy -risk mapping -risk forecasting -risk planning

risk mapping

supply chain coordination risks that are associated with the day-to-day management of the supply chain, which are normally dealt using which of the following? check all that apply. -safety lead time -long-term contract -safety stock -overtime -insurance

safety lead time, safety stock, and overtime

the ___ are individuals or organizations that legally own one or more shares of stock in the company -stakeholders -employees -shareholders -consumers

shareholders

which of the following are not outputs of the initiatives phase of formulating an operations and supply chain strategy? check all that apply -specific project plan -operation/supply chain changes -customer preferences

specific project plan and customer preferences

what term describes the written description of the objectives to be achieved in a project? -work package -project milestones -statement of work -work breakdown structure

statement of work

when a company seeks to match the benefits of a successful position and maintain their current position in the marketplace it is attempting a ___ approach -innovative -straddling -leader -unique

straddling

the ability to meet current resource needs without compromising the ability of future generations to meet their needs is known as -maintainability -sustainability -optimizing -coordinating

sustainability

when breaking down a project, what term is used to describe these subdivisions? -activity and tasks -activity and gantt charts -tasks and subtasks -task and menial tasks

tasks and subtasks

in a project, which of the following has the shortest duration? -project tasks -work package -work breakdown structure -subtasks

work package

what term describes the group of activities assigned to a single organizational unit? -activity list -work breakdown structure -work package -project milestone

work package

which of the following are not used in the calculation of asset turnover? -work-in-process -revenue -sales -total assets

work-in-process

the ratio of cost of good sold to average inventory value is known as -asset turnover -receivables turnover -inventory turnover -employee turnover

inventory turnover

a big competitor to microsoft project is.. -there is little project management software other than microsoft project -excel -primavera project planner

primavera project planner

one or more activities that transform inputs into outputs is/are called what? - planning -sourcing -delivering -making -returning -process

process

the crash-cost per day (or other time unit) is calculated using what formula?

(CC-NC)/(NT-CT)

which os the following is an example of a goods producing business? Please select all that apply. -a car manufacturer -a all center -an automobile manufacturer -a hosptial -the IT department of a large university

-a car manufacturer -an automobile manufacturer

which of the following are resources controlled by project management? check all that apply -time -cost -material -equipment -people

-material -equipment -people

which of the following are advantages of the functional project organizational structure? check all that apply -functional-area experts creates synergistic solutions to technical problems -the functional area is a home after the project is completed -technical expertise is maintained within the functional area -communication between functional divisions is enhanced -the project manager has full authority over the project -a team member can work on several projects -team member report to one boss

functional-area experts creates synergistic solutions to technical problems, the functional area is a home after the project is completed, technical expertise is maintained within the functional area, and a team member can work on several projects

which of the following is not a strategy associated with operational effectiveness? -technology investments -process redesign -hiring more employees -quality assurance

hiring more employees

each of the following is one of five differences between services and goods except -homogenous -intangible -customer interaction -package of features -perishable

homogenous

which of the following is not a major activity of a typical strategic planning process? -plan operations and supply -translate the strategy -develop the strategy -implement the strategy

implement the strategy

the costs associated with sustaining a project are referred to as -normal costs -indirect costs -crashing costs -direct costs

indirect costs

a process that cannot be weighted or measured is know as -intangible -perishable -tangible -time dependent

intangible

which of the following are disadvantages of the functional project organizational structure? check all that apply - needs of the clients are secondary and are responded to slowly -duplication of resources -it is doomed to failure unless the project managers strong negotiating skills -motivation of team members is often weak -organizational goals and policies are ignored -aspects of the project unrelated to the functional area gets shortchanged

needs of the clients are secondary and are responded to slowly, motivation of team members is often weak, and aspects of the project unrelated to the functional area gets shortchanged

the terms that describe marketing-orientated dimensions that key to competitive success. check all that apply -marketing qualifier -marketing winner -order qualifier -production qualifier -order winner -production winner

order qualifier and order winner

___ ____ is a specific marketing oriented dimension that clearly differentiates a product from competing products

order winner

works with people to figure out the best way to deliver the goods and services of the firm -oscm manager -chief financial officer -chief executive officer -chief information officer

oscm manager

productivity is defined as the ratio of -inputs of outputs -outputs to inputs -outputs to risk -risk to inputs

outputs to inputs

what trend(s) is/are forcing companies to find flexible ways to meet customer demand? -outsourcing and mass customization -TQM -long shipping times for goods produced overseas -increasing levels of inventory

outsourcing and mass customization

which of the following is not a direct activity cost? -overhead -overtime work -leasing equipment -support facilities

overhead

which of the following are disadvantages for pure projects. check all that apply -needs of the client are secondary and are responded to slowly -team members worry about their job once the project is over -organizations goals and policies are ignored -there are two or more bosses -duplication of resources -the organization falls behind in its knowledge of new technology

team members worry about their job once the project is over, organizations goals and policies are ignored, and duplication of resources

which of the following are advantages of a pure project? check all that apply. -team pride, motivation, and commitment are high -technical expertise is maintained within the functional area -lines of communication are shortened -a team member can work on several projects -the project manager has full authority over the project -team members report to one boss -the functional area is a home after the project is completed

team pride, motivation, and commitment are high, lines of communication are shortened, the project manager has full authority over the project and team members report to one boss

the extension of the critical path model that considers trade-offs between activity times and costs is often referred to as -CPM -variance models -three time estimate models -time-cost models

time-cost models

T/F: a process is made up of one or more activities that transform inputs into outputs

true

T/F: an operations and supply chain manager helps firms determine the best way to deliver its goods and services

true

T/F: business analytics is defined as the analysis of data to better solve business problems

true

T/F: operations and supply chain management is focused on the systems that create and deliver and organization's products and services

true

t/f: an operations strategy must consider the risk in a supply chain

true

t/f: operations effectiveness is related directly to the costs of doing business

true

t/f: productivity is a relative measure

true

t/f: when all the activities are completed, the project is finished

true