SCM 300 Exam 3 with 100% Correct
Solutions
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 - ANS-Project
measures a project's quality in terms of, cost, time and performance - ANS-Project
Priorities Triangle
expectations or desired outcomes in performance and quality, budget, and time; goals -
ANS-Objectives
description of products/services to be delivered i.e. presentation, documents, research -
ANS-Deliverables
a specific event in a project i.e. date of important decision, start of a new phase, etc. -
ANS-Milestones
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 - ANS-Business Process
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 - ANS-Cow Path Theory
defines process requirements and boundaries - ANS-Scope
the phenomenon in which a project progresses, for the better or worse, and the scope
inevitably grows larger and larger - ANS-Scope Inflation
task, operation, data collection - ANS-Rectangle
decision point where multiple flow paths are possible - ANS-Diamond
depicts start/end or entrances/exit to process - ANS-Terminator (Oval)
depicts flow of customer/material with the process - ANS-Thin Arrow
, process; depicts an entire process - ANS-Rectangle in a Rectangle
movement, transportation - ANS-Open Arrow
inspection requirement - ANS-Circle
delay in process - ANS-Half Oval
output leads to another flow chart or into another flow chart - ANS-Connector
a single performance measurement used to evaluate, motivate, and improve
performance - ANS-Performance Metric (PM)
a group of metrics that collectively attempt to provide a multi-dimensional view of a
resource or outcome - ANS-System of Metrics
measurable, easily understood, attainable - ANS-Requirements of a Good Metric
individual performance metrics identified by the company as being imperative to
achieving the organization's most important goals - ANS-Key Performance Indicators
(KPIs)
a computer-generated visual representation of a company's performance that is often
available to executives on nearly any of their digital devices - ANS-Executive
Dashboard
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 -
ANS-Managerial Paralysis
a metric that is impacted by two related parties - ANS-Shared Metrics
a performance management tool that focuses on strategic activity and stategic
outcomes - ANS-Balance Scorecard (BSC)
financial, customer, innovation and learning, internal - ANS-Balance Scorecard
Perspectives
a measurement tool that enables supply chain partners to track performance,
communicate progress, and develop opportunities for improvement - ANS-Supply Chain
Operations Reference Model (SCOR Model)
the costs of every process, material, fee, defect, etc. that runs through the supply chain
- ANS-Total SCM Costs
Solutions
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 - ANS-Project
measures a project's quality in terms of, cost, time and performance - ANS-Project
Priorities Triangle
expectations or desired outcomes in performance and quality, budget, and time; goals -
ANS-Objectives
description of products/services to be delivered i.e. presentation, documents, research -
ANS-Deliverables
a specific event in a project i.e. date of important decision, start of a new phase, etc. -
ANS-Milestones
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 - ANS-Business Process
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 - ANS-Cow Path Theory
defines process requirements and boundaries - ANS-Scope
the phenomenon in which a project progresses, for the better or worse, and the scope
inevitably grows larger and larger - ANS-Scope Inflation
task, operation, data collection - ANS-Rectangle
decision point where multiple flow paths are possible - ANS-Diamond
depicts start/end or entrances/exit to process - ANS-Terminator (Oval)
depicts flow of customer/material with the process - ANS-Thin Arrow
, process; depicts an entire process - ANS-Rectangle in a Rectangle
movement, transportation - ANS-Open Arrow
inspection requirement - ANS-Circle
delay in process - ANS-Half Oval
output leads to another flow chart or into another flow chart - ANS-Connector
a single performance measurement used to evaluate, motivate, and improve
performance - ANS-Performance Metric (PM)
a group of metrics that collectively attempt to provide a multi-dimensional view of a
resource or outcome - ANS-System of Metrics
measurable, easily understood, attainable - ANS-Requirements of a Good Metric
individual performance metrics identified by the company as being imperative to
achieving the organization's most important goals - ANS-Key Performance Indicators
(KPIs)
a computer-generated visual representation of a company's performance that is often
available to executives on nearly any of their digital devices - ANS-Executive
Dashboard
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 -
ANS-Managerial Paralysis
a metric that is impacted by two related parties - ANS-Shared Metrics
a performance management tool that focuses on strategic activity and stategic
outcomes - ANS-Balance Scorecard (BSC)
financial, customer, innovation and learning, internal - ANS-Balance Scorecard
Perspectives
a measurement tool that enables supply chain partners to track performance,
communicate progress, and develop opportunities for improvement - ANS-Supply Chain
Operations Reference Model (SCOR Model)
the costs of every process, material, fee, defect, etc. that runs through the supply chain
- ANS-Total SCM Costs
