Operations Management Exam Preparation Guide
Course Introduction
Operations Management is a comprehensive course that introduces students to the principles, strategies, and techniques used to design, operate, and improve production systems in manufacturing and service organizations. The course covers key topics such as process analysis, quality management, supply chain coordination, inventory control, capacity planning, project management, and the integration of technology in operational processes. Students learn to apply analytical tools and decision-making frameworks to optimize efficiency, enhance product and service quality, and manage resources effectively to meet organizational goals. Through case studies and real-world examples, the course emphasizes the role of operations management in gaining competitive advantage and achieving long-term business success.
Recommended Textbook
Project Management Achieving Competitive Advantage 4th Edition by Jeffrey K.
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14 Chapters
1421 Verified Questions
1421 Flashcards
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Page 2
Pinto
Chapter 1: Introduction: Why Project Management?
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Describe the elements of the Atkinson model of project success.
Answer: The Atkinson model incorporates the input of all stakeholders in assessing project success.Stakeholders are all groups that are affected by a project,for example,employees,customers,end users,the community,suppliers,etc.The Atkinson model begins with the traditional iron triangle of time,cost,and performance and adds considerations of the benefits accrued by organizational end external stakeholders.
Q2) A project has achieved success.Which of the following statements is another way of expressing the same outcome?
A) The project achieved the dual constraint plus the two external conditions.
B) The project achieved the triple constraint plus the one internal condition.
C) The project achieved the triple constraint plus the one external condition.
D) The project achieved the dual constraint plus the two internal conditions.
Answer: C
Q3) The project success criteria that functions as a quality check is:
A) Time.
B) Cost.
C) Performance.
D) Client acceptance.
Answer: C
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Page 3
Chapter 2: The Organizational Context:
Strategy,Structure,and Culture
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) The Larson and Gobeli study that compared projects that had been managed in a variety of structural types revealed that both new product development and construction projects tended to be least effectively executed when the organizational structure was a:
A) Project matrix.
B) Project organization.
C) Balanced matrix.
D) Functional organization.
Answer: D
Q2) A major player in the software industry stumbles from one new edition of its operating system and office automation package to another.As soon as one package is released,the programmers and developers have two weeks to latch onto a different team that is updating a different package.Failure to find another team to work for means an end to their employment.This organizational structure is BEST classified as a:
A) Functional organization.
B) Matrix organization
C) Project organization.
D) Flexible organization.
Answer: C
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Chapter 3: Project Selection and Portfolio Management
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99 Flashcards
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Sample Questions
Q1) Describe the use of a profile model and sketch an example,clearly labeling every component and the best alternative in your example.
Answer: Profile models allow managers to plot risk/return options for various alternatives and then select the project that maximizes return while staying within a certain range of minimum acceptable risk.The profile model makes use of a concept known as the efficient frontier-the set of project portfolio options that offers either a maximum return for every given level of risk or the minimum risk for every level of return.A profile model appears below.
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Q2) One project factor that directly impacts a firm's internal operations is the:
A) Expected return on investment.
B) Financial risk.
C) Need to develop employees.
D) Impact on company's image.
Answer: C
Q3) Personnel costs comprise one of the highest sources of project expense.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Leadership and the Project Manager
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) The facet of partnership that describes the requirement that every worker be responsible for defining the project's vision and goals is called:
A) Exchange of purpose.
B) A right to say no.
C) Joint accountability.
D) Absolute honesty.
Q2) A large sample survey was used to ask a total of 2,615 managers within U.S.corporations what they considered to be the most important characteristic of effective leaders.The item that ranked #1 was:
A) Inspiring.
B) Honest.
C) Imaginative.
D) Dependable.
Q3) Define the concept of time orientation.What are its implications for project leadership behavior?
Q4) What are any three types of project champions and how are they different?
Q5) What are the practical steps that organizations can take to begin developing a core of project management professionals?
Q6) What can a project manager do to motivate project team members?
Page 6
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Chapter 5: Scope Management
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Until a project has gone through work breakdown structure,it is impossible to determine the relationships among the constituent activities.
A)True
B)False
Q2) What is organization breakdown structure?
Q3) The statement of work should contain:
A) Information on the key objectives for the project.
B) A brief and general description of the work to be performed.
C) Expected project outcomes.
D) All of these are elements of a statement of work.
Q4) A project management firm that promises to do everything for a major project and hand over a fully functional,ready-to-use deliverable is performing under a(n):
A) Umbrella contract.
B) All-inclusive contract.
C) Cost-plus contract.
D) Turnkey contract.
Q5) What is a scope statement and what are the key steps in the scope statement process?
Q6) What is the purpose of controls? Describe any three types of control systems.
Page 7
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Chapter 6: Project Team Building,Conflict,and Negotiation
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) An overall goal or purpose that is important to all functional groups involved,but whose attainment requires the resources and efforts of more than one group,is a(n):
A) Superordinate goal.
B) Means goal.
C) End goal.
D) Field goal.
Q2) Explain Gersick's model of punctuated equilibrium.
Q3) On the first day of class your professor distributed a syllabus that promised to base your course grade on a series of unannounced exams and a massive group project.As you scanned the room that day,you noted that many of your classmates did not share your enthusiasm for the subject and many were C students at best.You felt that your perfect 4.0 GPA was at stake if the professor's almost diabolical grading scheme were to be implemented.You decided right away that it was up to you to negotiate a grading scheme of equal parts class attendance,open book quizzes,and trivial homework assignments.How should you prepare for the negotiation and how should you proceed?
Q4) What are the steps in assembling a project team? Which is most critical? Why?
Q5) What are virtual teams and what are two potential problems with using them? How can these problems be avoided?
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Chapter 7: Risk Management
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102 Flashcards
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Sample Questions
Q1) The Farm Fresh Egg project was too great for one person to pull off.The construction costs for the coop and chicken run were enormous and the sinister threat of avian flu hung over the area like a black cloud.It was only through the combined efforts of Matsushita Chickenworks and the City of Edmond that the project would be undertaken,since they would be able to:
A) Accept the risk.
B) Minimize the risk.
C) Transfer the risk.
D) Share the risk.
Q2) The firm set aside a little extra money just in case an unforeseen element of cost pushed the project beyond what they had budgeted.This extra money is called:
A) A rainy day fund.
B) A contingency reserve.
C) An escalation clause.
D) A sinking fund.
Q3) There are four alternatives a project organization can adopt in deciding how to address their risks.Develop four different scenarios,one each for which each of the alternatives would be appropriate.Justify your selections.
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Page 9
Chapter 8: Cost Estimation and Budgeting
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Sample Questions
Q1) "If the weather holds and the utility service has correctly marked the location of the gas,telephone,and electric lines zigzagging across my property,I should be able to install the accent lighting in my back yard in an afternoon's time," the do-it-yourselfer commented to his jealous (and skeptical)neighbor.The only reply he received was his neighbor's,"Good luck with all that,I remember reading somewhere that:
A) Project scope is fixed once the planning period is completed."
B) Normal conditions are rarely encountered."
C) There are no truly external factors in project execution."
D) Activity based costing shouldn't be used in a project of this scale."
Q2) An activity with a learning rate of 0.85 takes 25 hours for the first iteration.How long will it take to complete this task for the 15th time?
A) 12.55 hours
B) 12.85 hours
C) 13.15 hours
D) 13.25 hours
Q3) What are four major categories of costs? Provide descriptions for each category.
Q4) How are top-down and bottom-up budgets created? What advantages does each approach hold over the other?
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Page 10
Chapter 9: Project Scheduling: Networks,Duration
Estimation,and Critical Path
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Serial activities are those that:
A) Flow from one to the next in sequence.
B) Have sequential numbers.
C) Have the same numbers.
D) Should be performed simultaneously.
Q2) At a merge point in a forward pass,the largest preceding early finish becomes the early start for that node.
A)True
B)False
Q3) An activity has an optimistic time estimate of 17 days,a most likely estimate of 22 days,and a pessimistic estimate of 32 days.What is the expected duration of the activity?
A) 22.83 days
B) 23.67 days
C) 24.33 days
D) 25.17 days
Q4) The late start time should be calculated using a forward pass through the network. A)True
B)False
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Chapter 10: Project Scheduling: Lagging, Crashing, and Activity Networks
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Sample Questions
Q1) Which of the activities in the diagram have slack?
A) C and D
B) B and D
C) C and E
D) B and E
Q2) Use the Gantt chart and the activity list to determine when resource 2 is free.
\[\begin{array} { | l | l | l | l | }
\hline \text { Activity } & \text { Resources } & \text { Activity } & \text { Resources } \\
\hline \text { A } & 1 & \text { F } & 1 \\
\hline \text { B } & 5 & \text { G } & 2 \\
\hline \text { C } & 4 & \text { H } & 5 \\
\hline \text { E } & 3 & T & 3 \\
\hline
\end{array}\]
A) Between 0 and 15
B) Between 15 and 30
C) Between 30 and 45
D) Between 45 and 60
Q3) What are the strengths and weaknesses of AOA and AON techniques?
Page 12
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Chapter 11: Advanced Topics in Planning and Scheduling:
Agile and Critical Chain
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Sample Questions
Q1) What are the key elements of extreme programming?
Q2) A product backlog:
A) Shows remaining work in the sprint backlog.
B) Is controlled by the customer.
C) Shows what has been ordered to complete the project but not yet received from suppliers.
D) Is a constantly evolving list.
Q3) Wayne and Garth are engaged in XP and are constantly streamlining the design and improving the code.In XP terminology,they are engaged in:
A) Scrumming.
B) Refactoring.
C) Sprinting.
D) Time boxing.
Q4) What are the five steps behind the Theory of Constraints methodology and what takes place in each?
Q5) What is Agile PM and what makes it ideal for many software development projects?
Q6) Define and describe the function and interrelationship of a drum,drum buffer,and a capacity constraint buffer in CCPM.
Q7) What takes place in the Scrum process?
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Chapter 12: Resource Management
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Sample Questions
Q1) The project represented by this resource load chart has a maximum limit of 6 units of resource activity in any day.The first activities that are strong candidates for shifting are:
A) Activity A
B) Activities B and C
C) Activities D and E
D) Activity E and F
Q2) The first step in the resource leveling process is to create the resource loading table.
A)True
B)False
Q3) Placing resources on a detailed schedule of tasks is referred to as:
A) Placing.
B) Rectifying.
C) Loading.
D) Dragging.
Q4) Describe resource leveling; its objectives and the basic five-step technique to perform it.
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Chapter 13: Project Evaluation and Control
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Sample Questions
Q1) Use this earned schedule table to determine the schedule variance (t)for this project at the end of Month 6. \(\begin{array}{|l|l|l|l|l|l|l|l}
& \text { Month } 1 & \text { Month } 2 & \text { Month } 3 & \text { Month 4 } & \text { Month } 5 & \text { Month } 6 & \text { Month } 7 \\
\hline \text { PV (\$) } & \$ 125 & \$ 275 & \$ 500 & \$ 875 & \$ 1,485 & \$ 2,325 & \$ 2,670 \\
\hline \text { EV (\$) } & \$ 50 & \$ 120 & \$ 255 & \$ 420 & \$ 715 & \$ 865 & \$ 0 \\ \hline \end{array}\)
A) -2.74
B) -3.74 C) -2.26 D) -1.26
Q2) The closer to completion a project gets,the less precise and useful is the information that EVM provides.
A)True B)False
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Page 15
Chapter 14: Project Closeout and Termination
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Sample Questions
Q1) Once the project was successfully concluded,the team members returned to their roles in the organization,occasionally congregating at the water cooler to relive their halcyon days of yore.No one could argue that their project was:
A) Terminated by extinction.
B) Terminated by addition.
C) Terminated by integration.
D) Terminated by starvation.
Q2) The BOT option for large projects is designed to:
A) Automate the payment process.
B) Automate the closeout process.
C) Keep the door open for new projects between the customer and project organization.
D) Limit risk for the customer in the short run.
Q3) A classic early warning sign of project failure is the realization that a product being developed was targeting a market that few new products and firms were entering.
A)True
B)False
Q4) How do the four types of project termination differ?
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