SCM 455 - Midterm Exam Question and answers already passed 2024/2025 SCM 455 - Midterm Exam
Projects - correct answer are a series of tasks with specific objectives, defined start and stop dates AND Limited resources, time, personnel, and budgets
Examples of Projects in Supply Management -...
SCM 455 - Midterm Exam
Projects - correct answer ✔are a series of tasks with specific objectives,
defined start and stop dates AND Limited resources, time, personnel, and
budgets
Examples of Projects in Supply Management - correct answer ✔-Developing
new products within / across organizations
-Supplier development / improvement
-New internal systems (e.g. information technology)
-Developing sourcing / category strategy
Dimensions of a Project - correct answer ✔-Defined Scope
-Defined Success
Plan... Analyze... Execute
Defined Scope - correct answer ✔-Project overview
-Agreed-upon tasks, responsibilities, deliverables
-Starting and ending points
Costs
Defined Success - correct answer ✔-Attainment of objectives (goals, time,
budget, etc)
-Stakeholder satisfaction (client, user, mgt, etc.)
-Minimal modifications or disruptions
,Work Breakdown Structure (WBS) - correct answer ✔Summation of activities
and resources required, Broken down into tasks, sub-tasks, responsibilities,
precedents, costs, Like a bill of material but for projects
Uses: Simplify understanding, estimation, & control, Basis for Gantt, PERT,
other tools
Project planning and control techniques - correct answer ✔-Gantt Charts
-Program evaluation and review technique (PERT)
-Critical Path method (CPM)
Rules for Constructing a CPM Network - correct answer ✔1. Identify each
unique activity
2. "Arc" is relationship, "node" is an activity
3. Connect arcs and nodes by precedence
4. Arcs show progression
5. Networks generally start and stop at single node
Early Start (ES) - correct answer ✔Earliest date task can begin
Early Finish (EF) - correct answer ✔Earliest date task can finish (ES + task
time)
Late Finish (LF) - correct answer ✔Latest date task can finish without
delaying entire project
Late Start (LS) - correct answer ✔Latest date a task can begin without
delaying entire project (LF - task time)
CPM Two Pass Method: Forward Pass - correct answer ✔-From start,
compute ES & EF dates only
-ES is last precedent task's EF
-Last task EF is the project's EF
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