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
