QUESTION: 13

The abbreviation `SOP' stands for:

Standard office procedure
Standard operating procedure
System operating perfectly
Standard operations process

Answer(s): B

Explanation:

Standard operating procedure.

A set of step-by-step instructions to direct employees how to perform routine operations (Profex Publishing).

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QUESTION: 14

A specification which focuses on the outputs of a requirement is called:

Non-conformance
Performance
Conformance
Non-performance

Answer(s): B

Explanation:

A performance specification concentrates on the outputs of whatever it is you're buying.

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QUESTION: 15

`Value engineering is a structured approach to increasing the value obtained from a product by of- fering the same level of XXXXX at a lower cost'.
What is XXXXX?

Functionality
Service
Applicability
Practicality

Answer(s): A

Explanation:

Functionality.
The idea of value analysis or value engineering is that cost should be taken out of the product, whilst enabling the same performance.

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QUESTION: 16

The Pareto Principle, broadly speaking, is also known as (choose two):

ABC Analysis
The Rule of Three
The 80-20 Rule
Value Analysis

Answer(s): A,C

Explanation:

Pareto Analysis is sometimes known as the 80-20 Rule. It is the basis of ABC Analysis. 'in any series of elements to be controlled, a selected small factor [say 20%] in terms of number of elements almost always accounts for a large factor [say 80%] in terms of effort'. The figures in square brackets are illustrative - Pareto did not include these numbers and the % can be otherwise. The principle that a small percentage of 'things' will soak up a large amount of resource is what actu-ally matters.
For example, if you have 100 suppliers, a disproportionate amount of energy / time / spend will be devoted to a small number of them. Similarly if you have 100 staff members. Or a stock range of thousands. Similarly for customers. And so on.
A relatively simple concept, worth it's weight in gold in my opinion - my favourite management concept.

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QUESTION: 13

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QUESTION: 15

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QUESTION: 16

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