MCQ Flashcards
What is defined as:
Performance appraisal data collected from peers or colleagues (at the same level as the employee) and their manager.
180 degree feedback
What is defined as:
Performance appraisal data collected from “all around” an employee; their peers, subordinate, supervisors and sometimes internal and external customers.
360 degree feedback
What are the 5 stages of project management?
- Initiation
- Planning
- Execution
- Monitoring and control
- Closure
What are the 7 P’s of marketing?
- Product
- Price
- Place
- Promotion
- People
- Process
- Physical environment
What is:
The accumulation or increase of something over time, such as payments or benefits. This can also be a charge for work that has been done but not yet invoiced, which provision is made at the end of a financial period.
Accrual
What is:
An approach based on delivering requirements repetitively and incrementally throughout the project life cycle. The main aspect of agile is the necessity to demonstrate the central values and behaviours. These include trust, flexibility, empowerment and collaboration.
Agile project management
What does BACS stand for?
Bankers Automated Clearing Services
What is the organisations that has responsibility for all schemes that deal with the clearing and the settlement of IK automated payment services. These include direct debit and BACS direct credit.
BACS (bankers automated clearing service)
What is a balance sheet?
In financial accounting, it’s a summary of the financial balances of an individual or business.
What does BYOD stand for
Bring Your Own Device
What is the practice of allowing employees to use their own computers, smartphones, laptops etc for work purposes.
BYOD
What is meant by:
Innovation refers to changes in processes or the creation of more effective ideas, processes or products.
Business Innovation
What is meant by:
The selling of products and services to other businesses that are resold or used to make other items and/or services for sale?
Business Markets
What are business models?
A plan for the successful operation and profit making of a business, identifying sources of revenue, the intended customer base, products, and details of financing, such as revenue model, advertising model, products model etc.
What is:
The process of determining a business’ objectives, strategies and projected actions in order to promote it survival and development within a given timeframe. There are normally 2 key aspects to business planning. One is focussed on making profits and the other looks at dealing with risks that might impact the business. Business planning is usually outlined in a business plan
Business Planning
What is:
Capital Budget
A budget allocating money for the acquisition or maintenance of fixed assessed such as land, building or equipment.
What is:
The difference in the amount of cash available at the beginning and end of a period. The beginning is the opening balance, and the end is the closing balance. It is positive if the closing balance is higher than the opening balance and negative if the opening balance is higher than the closing balance. Inflow is the cash coming into the business and the outflow is the cash being sent.
Cash flow
What refers to the techniques, tools and processes needed to manage the people side of any business change.
Change Management
What does CIPD stand for?
The Chartered Institute of Personnel and Development
What is the Chartered Institute of Personnel and Development for?
It’s an association for human resource management professionals
What is Code of Practice?
A set of rules written down that describes how people should began in their given profession or role.
What is a set of rules written down that describes how people should began in their given profession or role.
Code of Practice
What are the 5 communication styles?
- Passive aggressive
- Assertive
- Aggressive
- Submissive
- Manipulative
- Passive aggressive
- Assertive
- Aggressive
- Submissive
- Manipulative
Are
Communication styles
This government department is responsible for promoting and strengthening business competition. It is a non-ministerial department.
Competition and Markets Authority (CMA)
In business this means conforming to a rule such as a specification, policy, standard or law.
Compliance
What is Consolidated Planning?
The ability to consolidate and document the fundamental components of a change initiative; budgets; risks, opportunities and issues; and quality requirements.
What was designed to protect consumers and give them rights when buying goods and services e.g. manufacturers are legally obliged to put certain information of products, such as health and safety messages on cigarettes
Consumer Protection Act 1987
What are the steps of contingency planning?
- Undercut and prioritise the Key Risks
- Specify risk trigger points
- Assess impact and estimate potential benefit or harm
- Crete a contingency plan
- Communicate and rehearse
What is the name of these steps?
- Undercut and prioritise the Key Risks
- Specify risk trigger points
- Assess impact and estimate potential benefit or harm
- Crete a contingency plan
- Communicate and rehearse
Contingency Planning
What is a Contingency Plan?
A plan designed to take account of a possible future event or circumstance, helping a business to respond effectively.
What does CPD stand for?
Continuous Professional Development
What is Continuous Professional Development
A process of tracking and documenting skills, knowledge and experience that you gain formally and informally that you then apply.
Normally defined as “the way things are done round here” this means the way in which the attitudes, beliefs, values and norms of the business are visible, evident and shared by all employees in the business.
Corporate Culture
The perception of a business amongst its stakeholders and the wider public.
Corporate Image
What is corporate image?
The perception of a business amongst its stakeholders and the wider public.
What’s does CSR stand for
Corporate Social Responsibility
What is CSR defined as?
The practice of integrating social and environmental goals into business operations. Common roles include helping control costs, improve a business’ brand, attract top-quality talent and facilitate long-term financial success.
What is:
Companies are subject to paying this. It’s levied on business profits and other income, as well as on chargeable gains. this tax is charged on the profits of a financial year but can be adapted to suit the business.
Corporation Tax
What is Cost-benefit analysis?
Businesses use cost-benefit analysis to analyse their decisions. The benefits are subtracted from the costs of a situation or potential action to show the risks of that action.
What does CRM stand for?
Customer Relationship Management
What is a strategy for managing a business’ relationships and interactions with customer and potential customers.
Customer Relationship Management (CRM)
This is a way of raising for a project or business by asking a large number of people for a small amount of money each. Traditionally, financing a business, project or venture involved asking a few people for large sums of money.
Crowdfunding
What is the process by which a business deals with a sudden emergency.
Crisis Management
What is Crisis Management
What is the process by which a business deals with a sudden emergency.
What is the practice of collecting, organising protecting, and storing a business’ data so it can be analysed for business decisions.
Data Management
What is Debt factoring?
Where a business takes responsibility for collecting money relating to another business’ invoices. Then they pay the business part of the total amount owed on the invoices. It’s a powerful tool that can improve cash flow.
What is:
Where a business takes responsibility for collecting money relating to another business’ invoices. Then they pay the business part of the total amount owed on the invoices. It’s a powerful tool that can improve cash flow.
Debt Factoring
What is DEFRA
The Department for Environment, Food and Rural Affairs
What is The Department for Environment, Food and Rural Affairs (DEFRA)
They are responsible for environmental protection, food protection and standards, agriculture, fisheries and rural communities in the UK, GB and NI
What is Direct Discrimination?
A way where you are treated worse than another person or other people because of a protected characteristic, or someone thinks you have a protected characteristic.
What is the following statement known as:
When someone thinks you have a protected characteristic
Discrimination by perception
What is it called when you are treated worse than another person or other people because of a protected characteristic you have.
Direct discrimination
What does DSE stand for?
Display Screen Equipment
What does EMAS stand for?
Eco-management Audit Schemes
What are Eco-management Audit Schemes
A voluntary premium management tool developed in 1993 for businesses to evaluate, report, and continually improve their environmental performance
What is the insurance that protects against the cost of compensations claims which may arise from illness or injury as a result of an employee’s work for you. If a business employs one or more people, it is a legal requirement to have in place.
Employers Liability Insurance
What is an act to consolidate enactments relating to employment rights.
Employment Rights Act 1996
What year did the Employment Rights Act come into force?
1996
What is a public body that has statutory jurisdiction to hear disputes between employers and employees. The most common disputes are concerned with unfair dismissal, redundancy payments and employee discrimination.
Employment Tribunal
This act protects people from discrimination in the workplace and society, replacing previous laws with one singular act, making the law easier to understand.
The Equality Act 2010
What is Ethical Approach?
It refers to implementing appropriate business policies and practices with regard to arguably controversial subjects. Some issues that come up in a discussion of ethics include corporate governance, insider trading, bribery, discrimination, social responsibility, and Financial and legal responsibilities.
What is known by:
It refers to implementing appropriate business policies and practices with regard to arguably controversial subjects. Some issues that come up in a discussion of ethics include corporate governance, insider trading, bribery, discrimination, social responsibility, and Financial and legal responsibilities.
Ethical Approach
What is an External Customer?
People who pay for and use the products and service which are offered by a business.
Who are people who pay for and use the products and service which are offered by a business.
External Customers
What does FCA stand for?
Financial Conduct Authority
What are the FCA?
They are a financial regulatory body which is independent to the government and looks at the regulation of conduct by financial services firms.
Who are a financial regulatory body which is independent to the government and looks at the regulation of conduct by financial services firms.
The FCA (financial conduct authority)
What is known as a cause-and-effect diagram. It is a visual tool for identifying potential causes of a problem in order to inferior its root causes.
Fishbone Diagram
What is a fish bone diagram used for?
It is a visual tool for identifying potential causes of a problem in order to inferior its root causes.
What is the analysis and synthesis workflow and the aim to improve economic efficiency (especially productivity) know as?
Frederick Taylor’s scientific management theory
What is Frederick Taylor’s scientific management theory?
It’s the analysis and synthesis workflow and the aim to improve economic efficiency (especially productivity)
What gives the public access to information bro by public authorities?
The Freedom of Information Act 2000
With which act must Public Authorities publish certain information about their activities and give this information when the public request it?
The Freedom of Information Act 2000
What is The Freedom of Information Act 2000
When Public Authorities publish certain information about their activities and give this information when the public request it.
When was The Freedom of Information Act brought into force?
2000
Who created the GANTT chart?
Henry L Gantt
What is a GANTT chat used for?
It shows activities that are planned to take place at certain periods. The activities are usually in horizontal lines and periods in vertical lines.
What shows activities that are planned to take place at certain periods. The activities are usually in horizontal lines and periods in vertical lines.
GANTT chart
Which act is a legal framework that sets guidelines for the collection and processing of personal information of individuals within the EU. It applies to all companies based in the EU and those with EUE citizens as customers. It had and extraterritorial effect, so non-EU countries are also effected. Even though the UK has left the EU the UK will still need to comply with it.
General Data Protection Regulation (GDPR)
When was General Data Protection Regulation (GDPR) brought into force?
2018
What relates to a the managements policies, processed, and guidance for an area of responsibility and also allows for proper oversight and accountability?
Governance
What is Gross Profit?
It is the difference between the revenue and the cost of products or services, before deducting other payments such as payroll. (What a business/person makes)
What is Gross Profit?
It is the difference between the revenue and the cost of products or services, before deducting other payments such as payroll. (What a business/person makes)
What is It is the difference between the revenue and the cost of products or services, before deducting other payments such as payroll. (What a business/person makes)
Gross Profit
Which act states wide-ranging duties for employers. They must protect the health, safety and welfare of their employees, causal workers, clients and visitor while on site.
Health and Safety at Work Act 1974
When did the Health and Safety at Work Act come into force?
1974
What is hierarchical structure?
And organisational structure that usually shows a single group or person and the top with levels below them
What is an organisational structure that usually shows a single group or person and the top with levels below them
Hierarchical structure
What does HMRC stand for?
His/Her Majesty’s Revenue & Customs
What is a non-ministerial department of the UK Government and is responsible for the collection of taxes, state support and administration of other regulatory authorities, e.g. the national minimum wage
HMRC
What does HSE stand for?
Health and Safety Executive
What is the Health and Safety Executive?
Britains national regulator for workplace health and safety and helps prevent work-related death, injury and ill health.
What does HRM stand for?
Human Resource Management
What is Human Resource Management
The practice of recruiting, hiring, deploying and managing a business’ employees.
What is the practice of recruiting, hiring, deploying and managing a business’ employees known as?
Human Resource Management (HRM)
What is a market situation where there are many sellers but all selling dissimilar goods?
Imperfect competition
What is imperfect competition?
A market situation where there are many sellers but all selling dissimilar goods?
What is indirect discrimination?
A rule or a policy that applies to everyone but disadvantages a particular characteristic.
What is a rule or a policy that applies to everyone but disadvantages a particular characteristic known as?
Indirect Discrimination
What does ICO stand for?
Information Commissioner’s Office
What is Information Commissioner’s Office (ICO) ?
The public body responsible for regulating data protection in the UK. They offer advice and guidance, prompt good practice, monitor breach reports, conduct audits and advisory visits, consider complaints, monitor compliance and take enforcement action where appropriate.
Who are the public body responsible for regulating data protection in the UK. They offer advice and guidance, prompt good practice, monitor breach reports, conduct audits and advisory visits, consider complaints, monitor compliance and take enforcement action where appropriate.
Information Commissioners Office (ICO)
This is a tool used to understand which stakeholders have the most influence in a project and how they impact it’s success
Influence Impact Grid
What is an internal customer?
People within a business who receive goods or services from other parts of the business
Who are people within a business who receive goods or services from other parts of the business?
Internal customers
What are interpersonal skills?
These include skills of listening, questioning and understanding body language. Most of these are communication related as well as as those attributes associated with emotional intelligence. This means being able to understand and manage your own and others emotions.
What are define as skills of listening, questioning and understanding body language. Most of these are communication related as well as as those attributes associated with emotional intelligence. This means being able to understand and manage your own and others emotions.
Interpersonal skills
Who offer a range of standards for businesses to follow and adhere to? This standard was owned by the UK government until 2017 when it transitioned into a community interest company
Investors in people
What do the Investors of People do?
They offer a range of standards for businesses to follow and adhere to? This standard was owned by the UK government until 2017 when it transitioned into a community interest company
What does ISO stand for?
International Organisation for Standardisation
What are the ISO? (International Organisation for Standardisation)
They are an international organisation which develop and publish international standards across a range of fields
Who are an international organisation which develop and publish international standards across a range of fields?
The ISO (International Organisation for Standardisation)
What is a Japanese business philosophy of continuous development that aims to improve all the functions and processes of a business and involve all the employees?
Kaizen
What is Kotter’s 8 step model?
- Create a sense of urgency.
- Build a coalition.
- A strategic vision.
- Unless a volunteer army
- Enable action by removing barriers.
- Generated short term wins.
- Sustain acceleration.
- Institute change
What is this:
- Create a sense of urgency.
- Build a coalition.
- A strategic vision.
- Unless a volunteer army
- Enable action by removing barriers.
- Generated short term wins.
- Sustain acceleration.
- Institute change
Kotter’s 8 step model
What does KPI stand for?
Key performance indicator
What is a key performance indicator (KPI)?
Measure of performance of a time against a specific objective
What is a measure of performance of a time against a specific objective?
Key performance indicator (KPI)
What does KRI stand for?
Key risk indicator
What is a key risk indicator?
A management measure to decide how risky something is and it can be used to spot early warning signs for risk in various areas of a business
What is a key risk indicator?
A management measure to decide how risky something is and it can be used to spot early warning signs for risk in various areas of a business
What is a management measure to decide how risky something is and it can be used to spot early warning signs for risk in various areas of a business?
Key risk indicator
What can also be known as the five stages of grief?
Kübler-Ross management model - change curve
What are the five stages of grave?
- Denial,
- anger,
- bargaining,
- depression,
- acceptance
List the nine leadership styles
Transformational transactional servant autocratic, Laissez-faire, democratic bureaucratic, charismatic and situational
What is lean practice?
A practice consistent of continuous improvement and experimentation to achieve perfect value with zero waste
What is practice consistent of continuous improvement and experimentation to achieve perfect value with zero waste known as?
Lean practice
What is a learning style?
An individuals preferred our best method of gaining knowledge
What is legislation?
The act or process of making or enacting laws
What does LLC stand for?
Limited liability company
What is a limited liability company?
Where stakeholders of a business are protected personally against any action by a business
What is Where stakeholders of a business are protected personally against any action by a business known as.
Limited liability company
What is a macro environment?
A set of external conditions of the effective businesses development efforts either positively or negatively. These include economic demographic technological natural social and cultural and legal and political.
What is described as a set of external conditions of the effective businesses development efforts either positively or negatively. These include economic demographic technological natural social and cultural and legal and political.
Macro environment
What are market forces?
A supply versus demand and the effect on price how the supply of product is related to the level of demand for it
What is a supply versus demand and the effect on price and how the supply of a product is related to the level of demand for it?
Market forces
What is market research?
The process of gathering information about target market and customers in order to inform business activity
What is the process of gathering information about target market and customers in order to inform business activity known as?
Market forces
What is McKinsey’s 7S model?
Until the analyses accompanies organisational design and the goal of the model is to depict how effectiveness can be achieved in an organisation through the interactions of the seven key elements.
What are the 7S’s in McKinley’s model?
Structure, strategy, skill, system, shared values, style and staff
Who’s model is this? Structure, strategy, skill, system, shared values, style and staff
McKinsey’s
What is a micro environment?
The factors are elements in a businesses and environment which affect its performance and decision-making. These elements include the businesses suppliers, Intermediaries, customers and public’s
What is a mission statement?
It is a list of the values purpose goals and objectives of a business. It is normally short and to the point of that everyone can understand it.
What occurs when a single business has a large proportion of the market power through its factors of production which can drive prices down?
Monopsony interaction
What is monopsony interaction?
When a single business has a large proportion of the market power through its factors of production, which drive prices down
What is national living wage?
An obligatory minimum wage payable to workers in the United Kingdom aged 21 and over
What is the obligatory minimum wage payable to works in the United Kingdom age 21 and over called?
National Living Wage
As of April 2024, how much is the national living wage?
£11.44
What is net profit?
It’s the difference between the revenue and the cost of product or services after deducting other payments such as payroll overheads taxes, et cetera
What is the difference between the revenue and the cost of products or services after deducting other payments such as payroll overheads and taxes called?
Net Profit
What is organisational culture?
A set of values and believes in a business that demonstrates how people behave
What is a set of values and beliefs in a business that demonstrate how people behave called?
Organisational culture
What is it called when a business employs another business to do some of its work instead of using its own employees to do it?
Outsourcing
What is outsourcing?
We are business employees another business to do some of its work instead of using it on employees to do it
What is an organisation where two or more individuals pull together their money skills and other reset resources and also share any profit and loss under a partnership agreement?
Partner organisation
What is a partner organisation?
Where to or more individuals pull together their money skills and resources and share any profit and loss under partnership agreement
What does PAYE stand for?
Pay as you earn
What does PAYE do?
It is a system of paying income tax and national insurance through the deductions of tax and national insurance contributions which comes directly from your wages or pension
What is a system of paying income tax and national insurance contributions through the deductions of the tax and national insurance contributions directly from your wages or pension?
PAYE
What does PECR stand for?
Privacy and electronic communications regulations
What is PECR?
The regulations which give people specific privacy rights in relation to electronic communications
What does PERT stand for?
Program evaluation and review technique
What is the program evaluation and review technique?
This is a to to enable you to evaluate an estimate the time required to complete a task within deadlines
What is PEST analysis?
This is an analysis of the external macro environment that affects all businesses where factors are usually beyond the businesses control and sometimes present themselves as threats
What does PEST stand for?
Political, economic, social, and technological
What does PESTLE stand for?
Political, economic, social, technological, legal and environmental
What is pestle analysis?
If framework the businesses can use to analyse the key factors influencing from the outside. HR practitioners and senior managers can use the results of this analysis to guide strategic decision making.
What is phased project management?
It is the use an application of a number of processes, knowledge skills and experience to achieve objectives. There are a number of project management phases required to implement the project. These phases include project initiation, project planning, project execution, project monitoring and controlling, and project closing.
What is phased project management?
It is the use and application of a number of processes, knowledge skills and experience to achieve objectives. There are a number of project management phases required to implement the project. These phases include project initiation, project planning, project execution, project monitoring and controlling, and project closing.
What is the use and application of a number of processes, knowledge skills and experience to achieve objectives. There are a number of project management phases required to implement the project. These phases include project initiation, project planning, project execution, project monitoring and controlling, and project closing.
Fed project management
What does PMI stand for?
Project management Institute
What is project management Institute?
An international project management organisation supporting professionals working in a project management role
What is an international project management organisation supporting professionals working in a project management role
Project management institute (PMI)
What are policies and procedures?
Documents that are put in place to explain how businesses will deal with issues when they arise to sure that they operate a fair and consistent way towards employees
What is PAT?
Portable appliance testing
What is positive action?
A series of lawful actions that looked to overcome and minimise disadvantages in employment opportunities. These will be people who share a protected characteristic.
What is a series of lawful actions that looked to overcome and minimise disadvantages in employment opportunities. These will be people who share a protected characteristic.
Positive action
What does PPE stand for?
Personal protective equipment
What does COSHH stand for?
Control of substances hazardous to health
What is meant by the control of substances hazardous to health?
The law that requires employers to control substances that hazardous to health
What is budget variance?
The difference between the figures that you have been projected in your budget and your business is actual performance. You can calculate variance for any of the line items in your budget, such as revenue, fix costs, variable costs, and net profit. Budget variance can be favourable or unfavourable.
What is the difference between the figures that you have been projected in your budget and your business is actual performance called?
Budget variance
What is Prince2 practitioner - projects in controlled environments?
A method for effective project management and is processed driven. It is widely recognised used in the private sector.
What is the use an application of a number of processes, knowledge, skills and experience to achieve objectives?
Process management
What is the process of purchasing goods or services called?
Procurement
What is meant by procurement?
The process of purchasing gods our services
What is a profit and loss account?
A profit and loss account shows a businesses revenue and expenses of a particular period of time typically either one month or consolidated months of a year. These figures show whether your business has made a profit or a loss over that time period.
What is project business case?
The justification for undertaking a project or programme, evaluating the benefit, cost and risk of alternative options and provides a rational for the preferred solution
What is the justification for undertaking a project or programme, evaluating the benefit, cost and risk of alternative options and provides a rational for the preferred solution
Project business case
What is the project life-cycle?
Logical sequence activities to accomplish a project schools or objectives. There are four phases to the project life cycle.
What are the four phases of the project life-cycle?
Initiation, planning, execution, and evaluation
What are these:
Initiation, planning, execution, and evaluation
Project life cycle
What is a project management plan?
The formal documentation that defines how a project is executed, monitored and controlled
What is the formal documentation that defines how a project is executed, monitored and controlled
Project management plan
What is project management professional? (PMP)
An internationally recognised professional certification offered by the project management Institute to recognise project managers who have proven they have the skills to successfully manage projects
What is an internationally recognised professional certification offered by the project management Institute to recognise project managers who have proven they have the skills to successfully manage projects
Project management professional
What is an internationally recognised professional certification offered by the project management Institute to recognise project managers who have proven they have the skills to successfully manage projects
Project management professional
What does PMP stand for?
Project management professional
What is the Project Management Triangle
Each side of the triangle represent a constraint, and the other side can’t be changed without having an effect on the others.
What is a project resource plan?
a resource plan to ensure that all the resources needed to complete the project identifies
What is a resource plan to ensure that all the resources needed to complete the project identifies
Project resource plan
What is a project sponsor?
Someone who is accountable for ensuring that the work is governed effectively and delivers the objectives that meet identified needs
What does PON stand for?
Purchase order number
What is a purchase order number?
A specific reference code that is generated by a business and assigned to a purchase so that it can be tracked throughout the order process
What is a specific reference code that is generated by a business and assigned to a purchase so that it can be tracked throughout the order process known as?
Purchase order number (PON)
What is qualitative financial forecasting?
The use of judgements and opinions to make financial predictions and decisions
What is the use of judgements and opinions to make financial predictions and decisions
Qualitative financial forecasting
What is quantitive financial forecasting
The use of quantifiable data such as volumes, profit, and expenses to make financial predictions and decisions
What is the use of quantifiable data such as volumes, profit, and expenses to make financial predictions and decisions known as?
Qualitative financial forecasting
What does RACI stand for in RACI matrix?
Responsible, accountable, consulted and informed
What is an RACI matrix?
Known as a responsibility assignment matrix it is a project management to use to identify and track responsibilities of those involved in a project
What does RAID in RAID log stand for?
Risks, actions, issues and decisions
What is an RAID log?
A project management to used to identify the risks, actions, issues and decisions of a project
What does RCA stand for?
Root cause analysis
What is root cause analysis?
It is the process of discovering the causes of problems in order to identify appropriate solutions
What does REACH stand for?
The registration and valuation authorisation and restriction of chemicals
What is reflective practice?
Aware of studying your own experiences to improve the way that you work
What is reflective practice?
Aware of studying your own experiences to improve the way that you work
What is resource management?
the efficient development and use of a business is resources. These include financial resources, people skills, production resources or information technology (IT)
What is the efficient development and use of a business is resources. These include financial resources, people skills, production resources or information technology (IT)
Resource management
What does RIDDOR stand for?
Reporting of injuries diseases and dangerous occurrences regulations
When did RIDDOR come into action?
2013
What is RIDDOR?
The regulation which puts duties onto employers self-employed and those in control of Work premises to report certain serious workplace accidents, occupational diseases and specified dangerous occurrences
What is the regulation which puts duties onto employers self-employed and those in control of Work premises to report certain serious workplace accidents, occupational diseases and specified dangerous occurrences known as
RIDDOR
What is a risk assessment?
The method of identifying hazards and risk factors that have the potential cause harm
What is schedule management?
Developing, maintaining and communicating schedules for resources and time. It is a timetable for a project.
What is scope management?
The process Rabbi output, outcomes and benefits are identified, defined and controlled
What is a shareholder?
Someone who owns shares in a company through purchasing a part of that company
What does SMART stand for?
Specific, measurable, agreed or achievable, realistic and time bound
What is used for goal setting?
SMART targets
What does SME stand for?
Small to medium enterprise
What is a small to medium enterprise classed as?
A business with fewer than 250 employees
What is a stakeholder?
A person who has an interest or is affected by a business
What is stakeholder analysis?
A project management to use to collect information about the people who will be impacted by a project
What are stakeholder relationships?
Relationships with stakeholders through managing their expectations and objectives
What is statutory leave entitlement?
The minimum amount of annual leave which all employees are entitled to. In the UK it is the equivalent of 5.6 weeks.
What does STEEP stand for?
Social, technological, economic, ecological, and political factors
What is STEEP used for?
To evaluate different external factors which could impact a business
What is a supplier?
A person or entity that is the source of goods and services
What is a global network used to deliver products and services both within an outside the business.
Supply chain and management
What is a swot analysis?
It will help develop a strong business strategy by making sure you have considered all your businesses strengths and weaknesses as well as the opportunities and threats the business may face
What is a synoptic endpoint assessment?
An assessment of the KSB learnt by the apprentice throughout the unprogrammed part of an apprenticeship and as specified within the apprenticeship standard
What is a thought? Shower?
A discussion in which new ideas are generated and discussed
What is a trading account?
I fund of money deposited with another financial organisation for the sole purpose of financial speculation usually all the same by an investment dealer fund manager or personal trader
What is a vision statement?
One sentence statement describing the clear and inspirational long-term desired change resulting from a business or programs work
What is the waterfall method?
Linear project management approach stakeholder and customer requirements are gathered at the beginning of a project, and then a sequential project plan is created to accommodate those requirements. The waterfall model is so named because each phase of the project cashcard into the next following steadily down like a waterfall.
What does WBS stand for?
Working breakdown structure
What does WBS mean?
If work management tail for a key project that organises a teams or departments work into manageable sections
What is a set of regulations that state people may or may not work?
Working time regulations
When did the working time regulations come into force?
1998
