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Free L3M2 Exam Braindumps (page: 5)

Page 4 of 23
PDF with 90 Questions

The abbreviation `SOP' stands for:

  1. Standard office procedure
  2. Standard operating procedure
  3. System operating perfectly
  4. 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).



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

  1. Non-conformance
  2. Performance
  3. Conformance
  4. Non-performance

Answer(s): B

Explanation:

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



`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?

  1. Functionality
  2. Service
  3. Applicability
  4. 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.



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

  1. ABC Analysis
  2. The Rule of Three
  3. The 80-20 Rule
  4. 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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