MGT 251 - Production Planning and Control Introduction

   

Added on  2020-03-04

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MGT 251. Planning and ControlQ1. From the Critical Chain perspective, it is generally better to schedule work:a. Concurrentlyb. Sequentiallyc. in a staggered fashiond. so that critical tasks can be crashed earlyQ2. The WBS is useful when:a. conducting a top-down estimateb. conducting a parametric cost estimatec. conducting a bottom-up estimated. allocating human resources to tasksQ3. The bottom level of a WBS is called:a. work packageb. cost accountc. code of accountsd. chart of accountsQ4. If BCWP=$500, BCWS=$600, ACWP=$400 and EAC=$900, what is project cost and schedule status?a. under budget, behind scheduleb. over budget, behind schedulec. over budget, ahead of scheduled. under budget, ahead of scheduleQ5. Cost estimates:a. must be accurate to within +/- 5%b. distribute project funds according to time linesc. are prepared after the budget has been determinedd. are prepared before the project budgetQ6. Over five quarters, revenue generated by Alpha Enterprises was: 10, 14, 12, 16, 20. Using the exponential smoothing technique, calculate smoothed values for the 2nd, 3rd,4th, and 5th quarters given that a = 0.5:a. 12, 13, 14, 18b. 12, 12, 14, 17c. 12, 14, 16, 18d. 12, 14, 16, 20Q7. If BCWP=$500, BCWS=$600, ACWP=$400 and EAC=$900, the schedule performanceindex (SPI) is:a. 1.33b. 0.83c. 0.80d. 1.20Q8. According to the TOC, multitasking often results in:a. increased qualityb. increased efficiencyc. decreased requirements for resourcesd. decreased accountabilityQ9. An important function of risk assessment groups (RAGs) is to:a. provide guidance to the organization on how to manage riskb. kill projects that are not going to be successfulc. conduct Monte Carlo simulations on all projectsd. develop project cost estimatesQ10. If BCWP=$500, BCWS=$600, ACWP=$400 and EAC=$900, the cost performance index (CPI) is:a. 1.33b. 1.00c. 0.80d. 1.25Q11. 'Earned value' is a measure of:
MGT 251 - Production Planning and Control Introduction_1
MGT 251. Planning and Controla. planned costb. planned schedulec. actual costd. work performedQ12. The Theory of Constraints (TOC) was originally developed:a. by the Navyb. by Du Pontc. for the service sectord. for manufacturingQ13. The critical chain approach ties schedules to resource availability.a. trueb. falseQ14. An advantage of the product-oriented WBS is that it:a. provides an excellent view of the whole productb. focuses on the schedule of the projectc. focuses on the cost of the projectd. is logical, and fairly easy to readQ15. A basic premise of time-boxed scheduling is that:a. perfection is the ultimate goal of schedulingb. heavy use of scheduling software ensures project successc. 'You can't have it all'd. it is wrong to scale back on technical features during scheduling, since this reduces the quality of the deliverableQ16. A man's weight represents what kind of measure?a. interval scale datab. ordinal scale datac. nominal scale dated. precise measureQ17. Over five quarters, revenue generated by Alpha Enterprises was: 10, 14, 12, 16, 20. Using moving averages for two-quarter time periods, calculate smoothed values for the 2nd, 3rd, 4th, and 5th quarters:a. a) 12, 13, 14, 18b. b) 12, 12, 14, 17c. c) 12, 14, 16, 18d. d) 12, 14, 16, 20Q18. Both PERT/CPM and the critical chain approaches treat resources as bottlenecks.a. trueb. falseQ19. Prioritization is the foundation of time-boxed scheduling.a. trueb. falseQ20. Which of the following can be described as very crude cost estimates?a. indirect project cost estimationb. preliminary estimatesc. definitive estimatesd. conceptual estimatesQ21. The parametric estimating technique is typically used in developing definitive estimates.a. trueb. falseQ22. Buffers are used to address the problem of:a. Law of diminishing returnsb. Parkinson's Lawc. The Peter Principled. Complexity Law
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