371

A project's charter and project scope statement simply documents that the project exists

False

ABC Costing stands for Activity-Biased Costing.

False

According to the readings. The concept of Supply Chain Management (SCM) is based on three core ideas

False

Supply Chain Management is not to maximize customer value, but to mainly achieve a sustainable competitive advantage

False

According to PJ, Bullwhip effect is caused by what?

False Sense of Reality

TIME is the number one driver of the project success

False--> it is scope

According to the What is the Project Management Triple Constraint video, the triple constraints are areas where no changes are introduced.

Fasle

The problem/issue of a business analysis is always negative.

Fasle

We went into the rabbit hole when we did our brainstorming session for the project.

Fasle

What is the correct order of the SCOR Supply Chain Management Process?

Plan, Source, Make, Deliver, Return

Please identify and match the points below with the correct answer when considering a "process map".

Process-Rectangle Shape Decision-Diamond Shape Start & Stop-Oval Shape Input & Output-Leaning Triangle

Per our class discussion, what comes before the project charter?

Project Proposal

The meat of the meeting is the most important part of a meeting. The key to having it be effective is having people being prepared for what they came to talk about.

true

The risk budget provides some extra time and cost to help keep the constraints in balance.

true

True or False: The Bullwhip Effect is also known as the Whiplash Effect.

true

Understand what it's going to take because different tasks take up different times, ultimately leading to having different costs.

true

Using supply chain benchmarking, you can determine the target you wish to attain, identify how far away you are from that target, and make plans to close the gap.

true

When benchmarking, you must know how well the very best is performing.

true

You need to have the employer-mindset, when you are working.

true

Your resume has to have numbers to be effective.

true

Choose the best answer. A process map needs to be...

very spacific

PJ mentioned this morning in class that in Korea, they sell snow.

true

Scope Creep also affects the other constraints.

true

Per our discussion, an agenda should have all of the following except...

-Assignments -Items going to happen/discuss -Time -All of these are items needed in an agenda

According to the required videos, what are the three components of triple constraint?

-Cost -Scope -Time

According to the article, what are the 4 Balance Scorecard Perspectives? USE ALL CAPITAL LETTERS WHE PUTTING IN YOURS ANSWERS AND PUT THEM IN ORDER

-Financial -customer -internal processes -learning and growth Financial: often renamed Stewardship or other more appropriate name in the public sector, this perspective views organizational financial performance and the use of financial resources Customer/Stakeholder: this perspective views organizational performance from the point of view the customer or other key stakeholders that the organization is designed to serve Internal Process: views organizational performance through the lenses of the quality and efficiency related to our product or services or other key business processes Organizational Capacity (originally called Learning and Growth): views organizational performance through the lenses of human capital, infrastructure, technology, culture and other capacities that are key to breakthrough performance

For a scorecard to be complete it must include all of the following except:

-Gap Calulations -Actual Data for each Metric Competitive Requirements -All of the above must be included for a scorecard to be complete -Appropriate Industry Benchmarks

The Project Management Triple Constraint and Why It Matters video mentioned ways to protect our TRIPLE CONSTRAINT. Choose 4 from the following answers.

-Monitor your progress -Read the Charter -Seek Stakeholder and Customer acceptance -Make good, solid time for scope, time, and cost

Name the 5 primary management processes in order.

-plan -source -make -deliver -return

_____is step by step explanation, while a_____describes the general theme of what's happening in the process. A_____always comes before a_____

-process map -storyboard -storyboard -process map

According to the article - what is needed to determine a project scope

-project's objective -project's deliverables -when the project needs to be completed -how much they can pay for it To determine a project scope, project managers must collect requirements for what the stakeholders need from the project -- this includes the project's objective or the project's deliverables, when the project needs to be completed, and how much they can pay for it.

-It provides a_____of your supply chain performance compared with similar operations -It helps you identify and set realistic but______objectives -Benchmarking can be used to set a_____for continuous improvement -You can identify_____ to suit your specific improvement requirements -Benchmarking can help you identify best practices for adoption -It also highlights_____separating your operational performance from that of best-in-class supply chains

-true view -stretching -baseline -mathrics -gaps

1. What is the MAIN purpose for a Business Analysis? 2. What are the main points in it? 3. Who is the main target audience for it?

1. defining needs and recommending values that will deliver additional value to the company 2. strategic background (issue/problem, solution, SWOT, value proposition, critical success factors), financial profile, internal profile, external profile, conclusion. 3. For internal use

Steps to creating a process map.

1.Identify the problem 2.Brainstorm all the activities that will be involved 3.Figure out boundaries 4.Determine and sequence the steps 5.Draw basic flowchart symbols 6.Finalize the process flowchart

According to the Implementing Projects video, what are the steps for implementing a project?

1.Strategy Manager 2.Communication 3.Accountability 4.Frequency

"If you want your company to be known as the best in its industry, commercial sector, or even in its niche, you must gain ___________ of the only goal that matters - the one which none of your competitors have yet surpassed."

AWARENESS

According to Version 7.0, SCOR focuses on the Reliability, Responsiveness, Flexibility, Cost, and Asset Management performance attributes. In Version 10.0, they changed Flexibility to what?

Agility

There are 4 steps to using a fishbone diagram as mentioned in the Fishbone Diagram Explained with Example video: 1. State the problem 2. Define categories 3. Brainstorm each category 4. __________________________.

Analyze your result

Who said the opening prayer in class this morning?

Bennett Sheppard

In timestamp 4:00 of Project Charter with an Example, What is Project Charter? How to Write a Project Charter? video, what is the project name shown in the project charter example?

Construction of Water Pump Station

DMAIC is the acronym of Six Sigma's objectives. Choose the words that stand for the letter and create the acronym.

D: Define M: Measure A: Analyze I: Improve C: Control

Which of these is not a result of the Bullwhip Effect?

Decreased Raw Material Costs

In the How to Make a Gantt Chart in Excel video, which of the following is step 10?

Define Print Settings

What are the 2 "E" words that are so important when talking about business?

Effective & Efficient

The Bullwhip Effect refers to a frustrating phenomenon that frequently starts with ___________.

FALLING CUSTOMER DEMAND

According to the document, a ________________ is an examination of your current performance for the purpose of identifying the differences between your current state of business and where you'd like to be.

Gap Analysis A gap analysis is an examination of your current performance for the purpose of identifying the differences between your current state of business and where you'd like to be.

Per our class discussion, we learned that if you understand the______, you will always have a job. If you understand______ , you will always be your boss.

How/why

What is this?

Ishikawa Diagram Fishbone Diagram

In class, we discussed that a project charter is a living document. What does mean when we call a document a living document?

It changes

According to the How to Use Gantt Charts for Project Management video, which of the following choices below is NOT a Gantt chart problem?

It doesn't foster communication

The statement "As Is" can also be referred to as_____because it has already happened

It is what it is

For each objective on the strategy map, at least one measure or _________________ will be identified and tracked over time. They indicate progress toward a desirable outcome and monitor the implementation and effectiveness of an organization's strategies, determine the gap between actual and targeted performance and determine organization effectiveness and operational efficiency.

KPIS KEY PERFORMANCE INDICATORS For each objective on the strategy map, at least one measure or Key Performance Indicator (KPI) will be identified and tracked over time. KPI's indicate progress toward a desirable outcome. Strategic KPIs monitor the implementation and effectiveness of an organization's strategies, determine the gap between actual and targeted performance and determine organization effectiveness and operational efficiency. Good KPIs: Provide an objective way to see if strategy is working Offer a comparison that gauges the degree of performance change over time Focus employees' attention on what matters most to success Allow measurement of accomplishments, not just of the work that is performed Provide a common language for communication Help reduce intangible uncertainty

According to the article, who devised the 1st GANTT chart?

Karol Adamiecki Karol Adamiecki devised the first "Gantt" chart, back in 1896. He was a Polish engineer turned management professor who came up with the idea of displaying processes visually so that he could make it easier to see production schedules. (He did most of his work in the steel industry.) He called it the harmonogram (a much better word) but he published his articles on it in Polish and Russian, so the English-speaking world didn't know much about it. Henry Gantt had the same idea, but about 15 years later. In 1910, Gantt started planning visually with bar charts to allow supervisors in the steel works to see if production was on track or behind schedule. It was Gantt's name that got attached to this way of planning, but today it's generally recognized that Adamiecki had the idea first.

What does KPI stand for?

Key Performance Indicator

__________ are defined by establishing specific parameters which are used in quantifying and defining supply chain performance

Metrics

Per today's class discussion, we are the family.

No-Um

Per our class discussion, which of the following is not one of the categories of the business analysis summary?

Opportunity Analysis

Project Management Institute (PMI) documented that there is an additional fourth component of the triple constraint. What is it?

QUALITY

If you are going to affect of the constraints, what things are going to be affected the most? (Pick 2)

Quality/The other constraints

A business analysis should have Quantitative information.

Quantitative

What does RFP stand for?

Request for Proposal

According to the PowerPoint, what is the +1 step in the steps for an Action Plan for Implementing Projects?

Review and Adjust

According to the article, many tools exist to help you bridge the gap in your Gap Analysis. Which tool process will help you determine internal and external threats to your organization and see where how you stand out against the competition?

SWOT SWOT analysis SWOT analysis is, perhaps, one of the oldest textbook marketing assets. SWOT is an acronym that stands for strengths, weaknesses, opportunities, and threats. You can perform a SWOT analysis both quantitatively and qualitatively. This process will help you determine internal and external threats to your organization and see where how you stand out against the competition.

According to AIMS, the SCOR Model does addresses all of the following except:

Sales and Marketing

In class, PJ said to type out a letter, but what did he say to do to show the person receiving the letter that the letter is personalized?

Sign the letter in blue ink

"Companies face many challengeswhen they buy things, make things, move things, sell things and service things - which includes repair and maintenance - Companies needs to do all of these things while using sustainable materials, energy and methods. Whose job is it to make sure these things happen flawlessly with minimal effort and with minimal cost?"

Supply Chain Manager

Match each of the 4 levels of the SCOR Model to their description.

Top Level-Process Types Configuration Level-Process Categories Process Element Level-Decompose Processes Implement Level Decompose-Process Elements

All proposed changes to the project charter should be reviewed by key stakeholders.

True

Business people love to hear the facts, not the fluff. "It is what it is."

True

Everything has a cost.

True

Opportunity cost is one of the ways to measure cost.

True

What is a Project Charter in Project Management? video, mentioned that the payback period is the amount of time it takes the project to pay for itself.

True

In the beginning of class, PJ said, "We all have the equal opportunity to be_____ ." What belongs in the blank?

Unequal

Brainstorming should last between 3 and 5 minute. Maybe 6 to 7 at most. The key to brainstorming is allowing the brains to keep storming. Don't go down the rabbit hole. What does it mean when we talk about a rabbit hole?

When you focus too much time discussing about one idea

What do you need to benchmark FIRST?

Your company/ internal

Any graph or chart must have what?

a good explanation at the top

According to What Is the Project Management Triple Constraint? | Project Mgmt Made Simple video, what is a scope?

all required work that has to be done to achieve project objective

What was the largest amount of costs a group had for the cupcake business?

around 100

After you benchmark your company and your customers, you need to benchmark_____________.

companies similar to yours

What information should be in the project charter based on the How To Create a Project Charter video? Background, scope, objectives, governance, schedule, budget, (Choose 4 from the following answers below)

constraints assumptions risks dependencies

According to the reading, the effort by the supply chain firms to develop and run supply chains in the most_____&_____ ways possible.

effective/efficient

A meeting doesn't cost anything.

false

A process map is the same thing as a storyboard.

false

According to PJ, you need to figure out what the bottle necks are once they are created.

false

According to the Reading, Most Activity Based Costing is a guesstimate

false

In the Design and Develop stage of the traditional SCOR model, you should only focus on how cool the product is.

false

Practice makes PERFECT; Perfect practice makes PERMANENT.

false Practice makes PERMANENT; Perfect practice makes PERFECT.

Voice of the Business (VOB) is process-driven.

false Voice of the Business (VOB) is profit-driven. Voice of the Employee (VOE) is process-driven.

You should benchmark your performance against all companies outside of your industry - even if they aren't similar to your supply chain characteristics

false benchmark your supply chain performance against companies with similar supply chain characteristics to your own.

True or False: According to the Implementing Projects video, your plan will end at some point.

fasle

Cause-and-effect diagram is also called _____________ diagram

fishbone

_____refers to waste elimination. _____is used for process improvement.

lean six sigma

In class, PJ said, "If you can't it, you can't manage it. If you can't manage it, you can't improve it."

measure

"If you can't_____it, you can't _____it. If you can't_____it, you can't_____it."

measure manage manage improve

Which of the four components of the SCOR Reference Model was implemented more recently?

people

Organizations that make up the supply chain are "linked" together______through flows and ______ flows

physical/ information

Which of the following steps contains the need to inspect, confirm, quantify, check and check again, and have a back up?

source

What is a scope creep?

the biggest hindrance to a project by diverting the focus from the main focus of a project

In class, PJ said, "only_____things_____ ." This creates a more efficient process.

touch once

A fishbone diagram is also known as a diagram that shows the cause and effect.

true

According to PJ, the last thing to do when demand increases is to hire new employees because you don't know if the demand is going to stay.

true

According to Project Charter with an Example, What is Project Charter? How to Write a Project Charter? video, the 1st benefit of a project charter is that the "Project Charter officially declares the project existence."

true

According to Stephanie, she got her supply chain job at Facebook through someone she met along her career journey.

true

Bosses don't always recognize the work that you do. To show them your value, write it down.

true

Creating a storyboard and process map is all about critical thinking.

true

ERP systems need to be EDI compliant, meaning this systems communicate with this system. EDI stands for Electronic Data Interchange.

true

Each project manager typically has different objectives, and metrics that work well for one business might not work for another

true

Every question you ask in a business has an answer that costs money.

true

Gap Analysis and Scorecard can be separate, but you also need a gap analysis in your Scorecard.

true

In Lean Six Sigma, the "80/20" rule means 80% of defects come from 20% of input.

true

Swim-lanes are considered a type of process map

true

According to PJ, the bullwhip effect is not a matter of if it's coming. It is a matter of_____it's coming.

when