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SCM 300 Exam 3 Questions and Answers
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SCM 300 Exam 3 Questions and Answers
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SCM 300 Exam 3 Questions andAnswers
Project - Answer -an endeavor in which human, material, and financial resources are
organized, in a novel way, to undertake a unique scope of work, of a given specification,
within the constraints of cost and time, so as to achieve a beneficial change by
quantitative and qualitative objectives
Project Priorities Triangle - Answer -measures a project's quality in terms of, cost, time
and performance
Objectives - Answer -expectations or desired outcomes in performance and quality,
budget, and time; goals
Deliverables - Answer -description of products/services to be delivered i.e. presentation,
documents, research
Milestones - Answer -a specific event in a project i.e. date of important decision, start of
a new phase, etc.
Business Process - Answer -any activity or group of activities that takes an input, adds
value to it, and provides an output to an internal or external customer; uses an
organization's resources to provide definitive results
Cow Path Theory - Answer -used to demonstrate how some bad processes are
sometimes created; just because a process is effective in providing expected results, it
does not mean the process is efficient
Scope - Answer -defines process requirements and boundaries
Scope Inflation - Answer -the phenomenon in which a project progresses, for the better
or worse, and the scope inevitably grows larger and larger
Rectangle - Answer -task, operation, data collection
Diamond - Answer -decision point where multiple flow paths are possible
Terminator (Oval) - Answer -depicts start/end or entrances/exit to process
, Thin Arrow - Answer -depicts flow of customer/material with the process
Rectangle in a Rectangle - Answer -process; depicts an entire process
Open Arrow - Answer -movement, transportation
Circle - Answer -inspection requirement
Half Oval - Answer -delay in process
Connector - Answer -output leads to another flow chart or into another flow chart
Performance Metric (PM) - Answer -a single performance measurement used to
evaluate, motivate, and improve performance
System of Metrics - Answer -a group of metrics that collectively attempt to provide a
multi-dimensional view of a resource or outcome
Requirements of a Good Metric - Answer -measurable, easily understood, attainable
Key Performance Indicators (KPIs) - Answer -individual performance metrics identified
by the company as being imperative to achieving the organization's most important
goals
Executive Dashboard - Answer -a computer-generated visual representation of a
company's performance that is often available to executives on nearly any of their digital
devices
Managerial Paralysis - Answer -a situation where managers are inundated with data;
this overflow of data actually slows decision-making and may even result in managers
stalling or avoiding decision-making
Shared Metrics - Answer -a metric that is impacted by two related parties
Balance Scorecard (BSC) - Answer -a performance management tool that focuses on
strategic activity and stategic outcomes
Balance Scorecard Perspectives - Answer -financial, customer, innovation and learning,
internal
Supply Chain Operations Reference Model (SCOR Model) - Answer -a measurement
tool that enables supply chain partners to track performance, communicate progress,
and develop opportunities for improvement
Total SCM Costs - Answer -the costs of every process, material, fee, defect, etc. that
runs through the supply chain
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