Mod 2.2 Quiz Flashcards
What is the acquisition approach that delivers capability to the war fighter and a set of increments spread over time with a known desired end state capability rather than a single effort because technology is not yet available to provide that in-state capability?
Evolutionary acquisition
What concept is based on the axiom that the best time to reduce cost is early in the process?
Cost as an independent variable (CAIV)
What is the name of the integrated management tool intended to relate contractor actual performance on a contract to the contractors planned cost and schedule, that measures the work progress in objective terms, and that states the value of the work completed in dollars?
Earned value management system (EVMS)
What is the EVM related term when there is a difference between budgeted cost of work performed and actual cost of work performed on a cost reimbursable contract?
Cost variance
Cost savings, cost avoidance, and productivity improvements are examples of what type cost benefits?
Quantifiable benefits
In regards to measures of central tendency, what is a mean? a mode? and median?
Mean is the arithmetic average
Mode is the most frequent score in a distribution of scores
Median is the middle of arrayed values
For a perfect correlation to exist what would be the coefficient?
1.0
The defense acquisition system is the management process that guides DOD acquisition programs and is basically The process by which programmatic risk is managed. What are the three programmatic risks that must be successfully managed?
Cost, schedule, and performance risk
What are the appropriations that may be used to fund and acquisition program?
RDT &E, procurement, O& M, Milcon, and Milpers
What is the term used to describe dollars shown in the lifecycle cost estimate where in the effects of inflation are not considered?
Base year dollars or constant year dollars
What is the term used to describe dollars used for programming and budgeting purposes where in the effects of inflation are considered?
Then year dollars or current year dollars
What cost structure does MIL-STD-881C represent?
Work breakdown structure
Which cost estimating method is based on direct comparison with historical information of one similar system?
Analogy method
Which cost estimating method is known as a statistical method or top down method?
Parametric approach
Which cost estimating method requires extensive knowledge of the product or process?
Engineering approach
What are the methods/steps in conducting the Delphi technique?
Query expert opinion; seek supporting rationale or information for each expert; summarize the results; gather second opinion; continue iteration until consensus or near consensus is reached
What is the theory that as the quantity of output doubles the man hours required to produce the quantity decreases at a fixed rate?
Learning curve theory
What is a systematic approach to the problem of choosing the best method of allocating scarce resources to achieve a given objective?
Economic analysis
Cost savings, cost avoidance, and productivity improvements are examples of what type cost benefits?
Quantifiable benefits
When evaluating a proposed investment or project with costs and benefits occurring not only in the current year but also future years, it is necessary to bring back to today’s dollars all those costs and benefits. What is this process determining?
Net present value of the proposed investment or project
