Grandiose statements of desire, on their own, are not strategy.
Strategy is as much about deciding what not to do, as it is about deciding what to do.
Strategy is about creating superior value, while containing the cost to create it.
Operational effectiveness and competitive benchmarking should be treated as strategy.
Show or Reveal the Answer
Operational effectiveness and competitive benchmarking should be treated as strategy.
Question: Which of the following is an example of a key performance indicator:
Which of the following is an example of a key performance indicator:
Day's cash on hand
Percentages of sales from new products
Operating income
Lead time to fill customer orders
All of the above
Show or Reveal the Answer
All of the above
Question: Which of the following is not a classification of value-added services?
Which of the following is not a classification of value-added services?
information
quality
field support
problem solving
sales support
Show or Reveal the Answer
quality
Question: Which of these statements is true? SIX SIGMA
A smaller-is-better target will always have an upper specification limit.
A smaller-is-better target will always have a lower specification limit.
A larger-is-better target will always have an upper specification limit.
None of the statements are true.
Show or Reveal the Answer
A smaller-is-better target will always have an upper specification limit.
Question: Which of the five Ms or one P is most predominate in affecting variation in the service industry?
Method
Measurement
People
Material
Show or Reveal the Answer
Method
Question: Which of the following would not be considered in deciding how far to minimum-cost schedule (crash) a project?
Project overrun penalties
Incentives for early completion
Indirect project costs (e.g. interest on a construction loan)
The normal duration times of tasks not on a critical path
How far individual tasks can be crashed
Show or Reveal the Answer
The normal duration times of tasks not on a critical path.
Key Points: In crashing, we are only interested on tasks on a critical path. A, B, C, and E would all be considered.
Key Points: In crashing, we are only interested on tasks on a critical path. A, B, C, and E would all be considered.
Question: When evaluating a new product development project using net present value analysis, which of the following will make the project more attractive?
Delaying the start of the project
Making the project run over a longer period of time
Improving (bringing forward) the date when revenue will begin
A and B
None of the above are correct.
Show or Reveal the Answer
Improving (bringing forward) the date when revenue will begin
Key Points: Starting the revenue stream earlier will always make a project more attractive.
Key Points: Starting the revenue stream earlier will always make a project more attractive.
Question: Which of the following is the best example of a project goal statement?
Reduce defects from Machine X by 50% before June 30
Improve changeover times before December 1
Increase net profit in Division B by the 4th quarter
Reduce DPMO by 75% at Call Center 1
Show or Reveal the Answer
Reduce defects from Machine X by 50% before June 30
Question: The purpose of process mapping is to help team members and others within the process to understand the
Meaning of the VOC
Six Sigma level of performance
Process
Goals of the business
Show or Reveal the Answer
Process
Question: At the beginning of a Six Sigma project, who is responsible for identifying a high-impact, low-performing process in need of improvement
Project Champion
Master Black Belt
Quality Leader
Management/Process Management Control
Show or Reveal the Answer
Management/Process Management Control
Question: The strategic role of a company's reward system is to
compensate employees for performing their assigned duties in a diligent fashion.
boost employee morale in ways that create widespread job satisfaction.
enlist employees' energetic commitment to the organization's strategy and vision by rewarding them, both monetarily and non-monetarily, for their contributions.
relieve managers of the burden of closely monitoring each employee's performance.
boost labor productivity and help lower the firm's overall labor costs.
Show or Reveal the Answer
enlist employees' energetic commitment to the organization's strategy and vision by rewarding them, both monetarily and non-monetarily, for their contributions.
Question: Which of the following is not a basic type of production layout?
Process layout
Product layout
Fixed-position layout
Cellular layout
Linear layout
Show or Reveal the Answer
Linear layout
Linear layout is not a basic type.
Linear layout is not a basic type.
Question: The most common priority rule/queuing discipline is:
Emergencies first
Shortest processing time
First come, first served
Limited needs
Reservation first
Show or Reveal the Answer
First come, first served
All are queue disciplines, however the most common is first come, first serve.
All are queue disciplines, however the most common is first come, first serve.
Question: Careers in operations and supply chain management include all of the following except:
Call center manager
Quality control manager
Plant manager
Business analyst
Production control analyst
Show or Reveal the Answer
Business analyst
Business analyst is not a OM/SCM career.
Business analyst is not a OM/SCM career.
TCP planning
Hoshin planning
Hiroshima planning
Tachiki planning
Show or Reveal the Answer
Hoshin planning
Explanation: One such method in Six Sigma methodology is referred to as Hoshin planning.
Hoshin planning guides an enterprise in developing up to four vision statements that would provide strategic guidance over the coming five years. The goal behind Hoshin planning is to narrow the focus of the company’s strategic vision which also helps match it to current organizational processes and objectives.
Explanation: One such method in Six Sigma methodology is referred to as Hoshin planning.
Hoshin planning guides an enterprise in developing up to four vision statements that would provide strategic guidance over the coming five years. The goal behind Hoshin planning is to narrow the focus of the company’s strategic vision which also helps match it to current organizational processes and objectives.
Question: In a capability study, a process capability index uses both the process _______ and _________ to determine whether the process is "capable".
Accuracy; precision
Variability; reproducibility
Variability; specifications
Precision; specifications
Show or Reveal the Answer
Variability; specifications
Explanation: In a capability study, a process capability index uses both the process variability and specifications.
In a capability study, a process capability index uses both the process variability which measures its inherent instability, and specifications which measure its activities. A capability study of a printing machine, for example, measures its variability and output under certain conditions. The goal of such a study is to find out of the printing machine can meet production expectations.
Explanation: In a capability study, a process capability index uses both the process variability and specifications.
In a capability study, a process capability index uses both the process variability which measures its inherent instability, and specifications which measure its activities. A capability study of a printing machine, for example, measures its variability and output under certain conditions. The goal of such a study is to find out of the printing machine can meet production expectations.
Question: A Black Belt practitioner leading a team of engineers urges them to devise a statement for their project. A project statement should be SMART. What does the A stand for in this acronym?
accelerated
achievable
amendable
adjustable
Show or Reveal the Answer
achievable
Explanation : The A stands for Achievable.
The acronym SMART is used to describe an effective project statement that helps team members focus their conception of goals and activities. An effective project statement is Specific, Measurable, Achievable, Relevant and Timely. The goal of using SMART is to encourage concrete goals and activities that can be completed within the allotted time and resources available while being amenable to measurement and evaluation.
Explanation : The A stands for Achievable.
The acronym SMART is used to describe an effective project statement that helps team members focus their conception of goals and activities. An effective project statement is Specific, Measurable, Achievable, Relevant and Timely. The goal of using SMART is to encourage concrete goals and activities that can be completed within the allotted time and resources available while being amenable to measurement and evaluation.
Question: According to the lecture, a good project charter contains which of the following elements?
I. Business case
II. Roles and responsibilities
III. Milestones
IV. Goals and objectives
V. Detailed budget
VI. Project scope
VII. Problem statement
VIII. SWOT analysis
I, II, III, IV, V, and VI
I, II, III, IV, VI, and VII
II, III, IV, V, VII, and VIII
III, IV, V, VI, VII, and VIII
Show or Reveal the Answer
I, II, III, IV, VI, and VII
Question: The Risk Priority Number (RPN) methodology is an analytic tool that is used to determine the risks associated with potential problems for a product or a process. The following are components of the RPN equation EXCEPT:
Source
Severity
Occurrence
Detection
Show or Reveal the Answer
Source
Explanation: The Risk Priority Number (RPN) methodology has the following components: severity, occurrence, and detection.
An RPN is calculated using the following equation: RPN = Severity X Occurrence X Detection. The goal of an RPN is to evaluate the risk of problems showing up during product manufacturing or processes, and to prioritize the best way to deal with these risks.
Explanation: The Risk Priority Number (RPN) methodology has the following components: severity, occurrence, and detection.
An RPN is calculated using the following equation: RPN = Severity X Occurrence X Detection. The goal of an RPN is to evaluate the risk of problems showing up during product manufacturing or processes, and to prioritize the best way to deal with these risks.
Question: Black Belt practitioners are responsible for team leadership in Six Sigma projects. The following are steps in team preparation EXCEPT:
provide management support
set clear purposes and goals
conduct team-building exercises during the first meeting
publish a schedule of team meetings halfway through project
Show or Reveal the Answer
publish a schedule of team meetings halfway through project
Explanation: Publishing a schedule of team meetings should be at the start of a project.
Even the most well-staffed team may not perform as well if there is no appropriate leadership preparation. Among these preparations are publishing a schedule of team meetings at the beginning of the project and setting clear purposes and goals. Also important are providing management support for team members and conducting team-building exercises during the first meeting.
Explanation: Publishing a schedule of team meetings should be at the start of a project.
Even the most well-staffed team may not perform as well if there is no appropriate leadership preparation. Among these preparations are publishing a schedule of team meetings at the beginning of the project and setting clear purposes and goals. Also important are providing management support for team members and conducting team-building exercises during the first meeting.
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