OPERATIONS MANAGEMENT EXAM 1

Question 1

what is operations management?

Answer 1

steps to turn inputs into outputs efficiently and effectively

Question 2

what are inputs?

Answer 2

raw materials, time, energy, capital, machinery

Question 3

what are outputs?

Answer 3

goods and services

Question 4

3 areas of any organization?

Answer 4

financial accounting, productions/operations, marketing

Question 5

why do we need to study OM 1?

Answer 5

3 fundamental areas

Question 6

why do we need to study OM 2?

Answer 6

how goods/services are produced

Question 7

why do we need to study OM 3?

Answer 7

what operation managers do

Question 8

why do we need to study OM 4?

Answer 8

costly part of an organization

Question 9

supply chain?

Answer 9

supplier, manufacturer, distributer, retailer, consumer

Question 10

strategic decision 1?

Answer 10

design of goods and services

Question 11

strategic decision 2?

Answer 11

managing quality

Question 12

strategic decision 3?

Answer 12

process and capacity strategy

Question 13

strategic decision 4?

Answer 13

location strategy

Question 14

strategic decision 5?

Answer 14

layout strategy

Question 15

strategic decision 6?

Answer 15

HR and job design

Question 16

strategic decision 7?

Answer 16

supply chain management

Question 17

strategic decision 8?

Answer 17

inventory management

Question 18

strategic decision 9?

Answer 18

scheduling

Question 19

strategic decision 10?

Answer 19

maintenance

Question 20

location strategy?

Answer 20

where to locate the facility

Question 21

layout strategy?

Answer 21

integrate capacity, personnel, technology

Question 22

goods are?

Answer 22

tangible, identical, remote/factory production, have measurable attributes, can resell

Question 23

services are?

Answer 23

intangible, unique, consumed/produced simultaneously, knowledge based, hard to measure attributes, can’t resell

Question 24

projects are?

Answer 24

series of related tasks to achieve an objective, unique

Question 25

ex of a project?

Answer 25

building a bridge

Question 26

3 stages of project management?

Answer 26

planning, scheduling, controlling

Question 27

what’s the objective of project management?

Answer 27

ensure project is completed on time, in budget, efficiently

Question 28

what’s involved in the planning phase?

Answer 28

setting goals, objectives, timeline, risk, personnel, budget

Question 29

what does WBS stand for?

Answer 29

work breakdown structure

Question 30

what does WBS do?

Answer 30

breaking down work into sub-objectives

Question 31

4 ethical issues faced by a project manager

Answer 31

gifts, falsifying reports, cutting corners, masking inefficiencies

Question 32

what are the roles of a project manager?