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OPMA 3306 Final Exam Review: Multiple Choice Questions and Answers, Exams of Business Economics

A comprehensive review of key concepts and principles covered in opma 3306, focusing on multiple choice questions and answers. It covers topics such as production planning, quality management, project management, and supply chain management. Valuable for students preparing for their final exam in opma 3306, as it provides a structured review of important concepts and their applications.

Typology: Exams

2024/2025

Available from 01/27/2025

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82 Final Exam Review OPMA 3306
Questions
"Projected available balance" is a term referring to unsold finished goods inventory - โœ” โœ” False
100% inspection is justified when the cost of inspection is low - โœ” โœ” False
A BOM file is also called - โœ” โœ” Product Tree
A BOM file is also called which of the following - โœ” โœ” Product Tree
A free trade zone operates under different rules and laws than a foreign trade zone - โœ” โœ” False
A lot for lot (L4L) lost sizing technique does not take into account setup costs or capacity limitations - โœ”
โœ” True
A master production schedule is an input to a material requirements planning (MRP) system - โœ” โœ”
True
A matrix project structure is often referred to as a "skuckworks" - โœ” โœ” False
A modular bill of materials in the term for an item that can be produced and stocked as a subassembly -
โœ” โœ” True
A modular bill of materials includes items with fractional options - โœ” โœ” False
A opportunity flow diagram is used to separate the value added from the non value added steps in a
process - โœ” โœ” True
A product tree can do which of the following - โœ” โœ” help to compute component usage
A project can be subdivided into which of the following - โœ” โœ” work packages
A project milestone is a specific event to be reached by a particular point of time - โœ” โœ” True
A quality guru named Joseph M Juran defined quality as fitness for use - โœ” โœ” True
A quality guru named Philip Crosby defined quality as fitness for use - โœ” โœ” False
A quality guru named Phillip Crosby defined quality as conformance to requirements - โœ” โœ” True
An analytical tool used in six-sigma quality improvement programs is which of the following - โœ” โœ”
checksheets
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82 Final Exam Review OPMA 3306

Questions

"Projected available balance" is a term referring to unsold finished goods inventory - โœ” โœ” False 100% inspection is justified when the cost of inspection is low - โœ” โœ” False A BOM file is also called - โœ” โœ” Product Tree A BOM file is also called which of the following - โœ” โœ” Product Tree A free trade zone operates under different rules and laws than a foreign trade zone - โœ” โœ” False A lot for lot (L4L) lost sizing technique does not take into account setup costs or capacity limitations - โœ” โœ” True A master production schedule is an input to a material requirements planning (MRP) system - โœ” โœ” True A matrix project structure is often referred to as a "skuckworks" - โœ” โœ” False A modular bill of materials in the term for an item that can be produced and stocked as a subassembly - โœ” โœ” True A modular bill of materials includes items with fractional options - โœ” โœ” False A opportunity flow diagram is used to separate the value added from the non value added steps in a process - โœ” โœ” True A product tree can do which of the following - โœ” โœ” help to compute component usage A project can be subdivided into which of the following - โœ” โœ” work packages A project milestone is a specific event to be reached by a particular point of time - โœ” โœ” True A quality guru named Joseph M Juran defined quality as fitness for use - โœ” โœ” True A quality guru named Philip Crosby defined quality as fitness for use - โœ” โœ” False A quality guru named Phillip Crosby defined quality as conformance to requirements - โœ” โœ” True An analytical tool used in six-sigma quality improvement programs is which of the following - โœ” โœ” checksheets

An event unit package is a subdivision of a project - โœ” โœ” False An example of assignable variation in a production system may be that workers are not identically trained - โœ” โœ” True An input to the material requirements planning (MRP) system is an exception report - โœ” โœ” False An input to the material requirements planning (MRP) system is an inventory records file - โœ” โœ” True An operational goal of total quality management is the careful design of the product or service - โœ” โœ” True An opportunity flow diagram as part of a six sigma quality improvement process might be found in which DMAIC category - โœ” โœ” Improve An output of MRP is a bill of materials (BOM) file - โœ” โœ” False AQL stands for accepting questionable lots in production quality management - โœ” โœ” False Breakthrough projects are those that provide fundamental improvements to existing products - โœ” โœ” False Conformance quality is a strategic decision for a firm - โœ” โœ” False Design of Experiments (DOE) is sometimes referred to as multivariate testing - โœ” โœ” True Design of Experiments (DOE) refers to the work done before production of early model prototypes of a new product - โœ” โœ” False Design quality in products refers to the degree to which a products or service specifications are met - โœ” โœ” False Design quality refers to the inherent value of the product in the marketplace - โœ” โœ” True Facility location analysis considers the competitive imperative to be close to customers as to timeliness of deliveries - โœ” โœ” True Failure mode and effect analysis is used in six sigma projects. It involves which of the following - โœ” โœ” calculating a risk priority number for each possible failure For which of the following should we use a "p" chart to monitor process quality - โœ” โœ” Defective electrical switches Freezing the master schedule is - โœ” โœ” done to avoid the chaos of expediting and resultant overdue orders Generally, determining lost sizes in MRP systems is simple - โœ” โœ” False

The "p chart" is only useful for sampling the deals with continuous variables - โœ” โœ” False The 2nd step in managing a project is writing the statement of work - โœ” โœ” False The acronym ERP stands for - โœ” โœ” Enterprise Resource Planning The critical path in a CPM analysis is always the shortest path through the network - โœ” โœ” False The dimension of design quality that concerns the sensory characteristics of the product is which of the following - โœ” โœ” Aesthetics The fact that organizations are flattening is one of the reasons that project management is important - โœ” โœ” True The Greek letter alpha is associated with consumer's risk - โœ” โœ” False The master production schedule states the number of items to be produced during specific time periods

  • โœ” โœ” True The term CTQ is used in the "Define(D)" portion of the DMAIC methodology - โœ” โœ” True The valuations in an Earned Value Management analysis must be either profits or revenue - โœ” โœ” False Time fences are periods of time having some specified level of opportunity for the customer to make changes. - โœ” โœ” True To obtain a 99.7 percent confidence level in a "p" chart we would use a value of 3 for "z" - โœ” โœ” True TQM is an acronym meaning "total quality measurement." - โœ” โœ” False We would expect to see which of the following in an MRP system's inventory status file - โœ” โœ” Scrap parts What is a work breakdown structure - โœ” โœ” A definition of the hierarchy of project tasks, subtasks, and work packages When implemented correctly, MRP links all areas of the business. - โœ” โœ” False Which of the following are eligible companies to be considered for the Baldrige award - โœ” โœ” auditing firms Which of the following can be used or lot sizing in an MRP system - โœ” โœ” least unit cost Which of the following is a criterion that influences manufacturing plant or warehouse facility location decisions - โœ” โœ” Proximity to customers

Which of the following is a dimension of design quality - โœ” โœ” features Which of the following is considered a primary report in an MRP system - โœ” โœ” Planned order schedules Which of the following is not a production activity report generated by MRP - โœ” โœ” Bill of Materials report Which of the following is one of the main purposes of a MRP system - โœ” โœ” to determine the amount of materials needed to produced each end item Which of the following should we use an "R" chart to monitor process quality - โœ” โœ” tire pressures in an auto assembly plant While business organizations can seek to achieve the Baldrige National Quality Award, universities cannot - โœ” โœ” False