gyu and hard mcps before midterm Flashcards

1
Q

A major limitation of using Gantt charts for project management is that they do not:

a. Indicate all the major activities involved.
b. Indicate the closeout phase.
c. Show the timing of activities.
d. Show relationships among activities.

A

d. Show relationships among activities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Project execution refers to the decision project managers sometimes have to make to cancel a project.

a. True
b. False

A

b. False

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Which of the following is not likely to apply to team members from within an organization assigned to work on a project?

a. Be “on loan” from their regular jobs.
b. Only be involved for part of the time to complete the project.
c. Have only part-time responsibilities for the project.
d. No longer work for the organization once the project is completed.

A

d. No longer work for the organization once the project is completed.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

he primary information that all Gantt charts document is:

a. Project activities and timing (duration and start/end points)
b. Project budgets and staffing for each activity
c. Three estimates of activity duration times (optimistic, most likely and pessimistic)
d. Project budgets and breakdown of activities

A

a. Project activities and timing (duration and start/end points)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Rolling wave planning is a technique for developing a project’s:

a. Total costs
b. Work breakdown structure
c. Critical path
d. Total amount of slack

A

b. Work breakdown structure

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Controlling projects based on earned value analysis, a project experiencing a cost overrun would have a _______ cost variance equal to the actual costs minus ____________.

a. Positive; budgeted cost of work performed (BCWP)
b. Negative; budgeted cost of work scheduled (BCWS)
c. Positive; budgeted cost of work scheduled (BCWS)
d. Negative; budgeted cost of work performed (BCWP)

A

a. Positive; budgeted cost of work performed (BCWP)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

In project management applications, clustering several “instruments” (e.g. summary reports) to provide executives with several high-level overviews of a project is referred to as:

a. windows
b. Pop-ups
c. dashboards
d. homepages

A

c. dashboards

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Two examples of commercially available project management software are:

a. Microsoft Project and Deltek Enterprise Project Management (EPM)
b. Microsoft Project and PERT / CPM
c. Microsoft Excel and Deltek Enterprise Project Management (EPM)
d. Microsoft Excel and PERT / CPM

A

a. Microsoft Project and Deltek Enterprise Project Management (EPM)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Within operations, achieving the intended goals of quality and responsiveness refers to operational _____________.

a.
effectiveness

b.
processes

c.
efficiency

d.
systems

A

a.

effectiveness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

An example of a quantitative approach to operations decision making would be;
Select one:

a.
Linear programming

b.
Trade-off analysis

c.
Establishing priorities

d.
Ethics

A

a.

Linear programming

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Which of the following would not be considered a responsibility of operations managers?
Select one:

a.
Inventory control

b.
Scheduling a workforce

c.
Securing financing for a new production facility

d.
Selecting process technology

A

c.

Securing financing for a new production facility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What decision area of operations concerns the best arrangements for departments, machines and equipment in terms of workflow?
Select one:

a.
Layout

b.
Location

c.
Process design

d.
Product design

A

a.

Layout

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

For an airline company, deciding on the number of planes to acquire and where to use the planes involves what aspect of operations?
Select one:

a.
Capacity planning

b.
Scheduling

c.
Location of facilities

d.
Assuring service quality

A

a.

Capacity planning

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Which decision area involves system design that has strategic, long term implications for operations?
Select one:

a.
Aggregate planning

b.
Capacity

c.
Inventory management

d.
Material requirements planning

A

b.

Capacity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Of the following, which is not considered to be one of the decision areas or characteristics of system design decisions?
Select one:

a.
Tactical control

b.
Long term

c.
Product design

d.
Strategic

A

a.

Tactical control

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Who is the person that is referred to as the father of scientific management?
Select one:

a.
Henry Ford

b.
Adam Smith

c.
Frederick Taylor

d.
Frederick Hertzberg

A

c.

Frederick Taylor

17
Q

Which of the following are steps for formulating an operations strategy?

I. Link the organizational goals to the operations strategy

II. Define the mission and values of the organization.

III. Conduct an audit to determine the strengths/weaknesses of the current operations strategy

IV. Assess the degree of focus at each plant.
Select one:

a.
I, II, III, and IV

b.
I and II only

c.
I, III, and IV only

d.
II, III, and IV only

e.
I, II, and III only

A

d.

II, III, and IV only

18
Q

Even though labour cost as a proportion of total cost has been decreasing in manufacturing companies, labour productivity is still the main measure being used to gauge the performance of individuals and plants.

True

False

A

True

19
Q

A mission statement should provide a guide for the formulation of strategies for the organization.

True

False

A

True

20
Q

If you think of goals as destinations, then tactics are the roadmaps for reaching the destinations.

True

False

A

False

21
Q

Which of the following is not considered to be one of responses for managing project risks?
Select one:

a.
Lessen the resources dedicated to monitoring project activities

b.
Outsourcing activities and requiring a performance bond

c.
Extending the schedule to create more slack in the project

d.
Improved communications among those involved in the project

A

a.

Lessen the resources dedicated to monitoring project activities

22
Q

Rolling wave planning is a technique for developing a project’s:
Select one:

a.
Total costs

b.
Work breakdown structure

c.
Critical path

d.
Total amount of slack

A

b.

Work breakdown structure

23
Q

Two examples of commercially available project management software are:
Select one:

a.
Microsoft Project and Deltek Enterprise Project Management (EPM)

b.
Microsoft Project and PERT / CPM

c.
Microsoft Excel and Deltek Enterprise Project Management (EPM)

d.
Microsoft Excel and PERT / CPM

A

a.

Microsoft Project and Deltek Enterprise Project Management (EPM)

24
Q

Controlling projects based on earned value analysis, a project experiencing a cost overrun would have a _______ cost variance equal to the actual costs minus ____________.
Select one:

a.
Positive; budgeted cost of work performed (BCWP)

b.
Negative; budgeted cost of work scheduled (BCWS)

c.
Positive; budgeted cost of work scheduled (BCWS)

d.
Negative; budgeted cost of work performed (BCWP)

A

a.

Positive; budgeted cost of work performed (BCWP)

25
Q

The distribution used to represent probabilistic activity duration times in a project is the:
Select one:

a.
Bivariate distribution.

b.
Normal distribution.

c.
Beta distribution

d.
Poisson distribution.

A

c.

Beta distribution

26
Q

In project management applications, clustering several “instruments” (e.g. summary reports) to provide executives with several high-level overviews of a project is referred to as:
Select one:

a.
windows

b.
Pop-ups

c.
dashboards

d.
homepages

A

c.

dashboards

27
Q

The primary information that all Gantt charts document is:
Select one:

a.
Project activities and timing (duration and start/end points)

b.
Project budgets and staffing for each activity

c.
Three estimates of activity duration times (optimistic, most likely and pessimistic)

d.
Project budgets and breakdown of activities

A

a.

Project activities and timing (duration and start/end points)

28
Q

Of the following, which use of forecasting involves long term forecasts to design the system for operations?
Select one:

a.
Predicting capacity needs

b.
Planning labour requirements

c.
Establishing shift schedules

d.
Planning overall inventory levels

A

a.

Predicting capacity needs

29
Q

What forecasting method is best suited to forecast the medium term demand for an established product using the past 5 years of quarterly demand data to develop the forecast?
Select one:

a.
Judgmental using the Delphi method

b.
Regression trend model

c.
Seasonal incorporating trend and seasonal relations

d.
Simple exponential smoothing
Clear my choice

A

c.

Seasonal incorporating trend and seasonal relations

30
Q

What measure of forecast accuracy allows forecasts to be assessed irrespective of the specific scale for the time series being used?
Select one:

a.
Mean absolute deviation (MAD)

b.
Mean squared error (MSE)

c.
Mean absolute percent error (MAPE)

d.
Centred moving average (CMA)

A

c.

Mean absolute percent error (MAPE)

31
Q

Forecasts can help a manager to do all of the following EXCEPT:
Select one:

a.
predict the future precisely

b.
design the system

c.
plan the medium-term use of the system

d.
schedule the short-term use of the system

e.
reduce uncertainty in planning

A

a.

predict the future precisely

32
Q

Moving average forecasting techniques:
Select one:

a.
lead changes in the data.

b.
all of the choices are true.

c.
none of the choices are true.

d.
immediately reflect changing patterns in the data.

e.
smooth variations in the data.

A

e.

smooth variations in the data.

33
Q

Time series techniques are useful for:

I) distinguishing between random and non-random variations

II) smoothing out fluctuations in data

III) providing accuracy in forecasts
Select one:

a.
I only

b.
I, II, and III

c.
II and III only

d.
I and II only

e.
II only

A

e.

II only

34
Q

A seasonal relative (or seasonal indexes) is expressed as a percentage of the average or trend in a time series.

True

False

A

True

35
Q

Which of the following is not necessarily an element of a good forecast?
Select one:

a.
degree of accuracy stated

b.
low cost to complete

c.
expressed in meaningful units

d.
time horizon long enough to be useful

e.
technique is simple to understand and use

A

a.

degree of accuracy stated

36
Q

MAPE measures the:
Select one:

a.
main accuracy percent evaluation

b.
mean average percent error

c.
average absolute percent error

d.
mean absolute produced error

e.
mean actual produced error

A

c.

average absolute percent error

37
Q

Sales for a product have been fairly consistent over several years, although showing a steady upward trend. The company wants to understand what drives sales. The best forecasting technique would be:
Select one:

a.
exponential smoothing techniques

b.
judgmental methods

c.
regression models

d.
moving averages

e.
trend models

IF THIS QUESTION IS IN THE EXAM, WE ALL GOTTA SEARCH FOR IT

A

e.

regression models