Free L4M2 Exam Braindumps (page: 11)

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Which of the following provides in-depth detail for both functional and non-functional require-ments and covers assumptions, constraints, performance, dimensions, weights and reliability of a product?

  1. Performance specification
  2. Tolerance
  3. Statement of work
  4. Design specification

Answer(s): D

Explanation:

Design specification is a detailed document providing a list of points regarding a product or pro-cess. For example, the design specification could include required dimensions, environmental fac-tors, ergonomic factors, aesthetic factors, maintenance that will be needed, etc. It may also give specific examples of how the design should be executed, helping others work properly (a guideline for what the person should do).
Performance specification is written requirement that describes the functional performance criteria required for a particular equipment, material, or product. Tolerance is the permissable limit of a variable used to define a product Statement of work is the document that captures and defines all aspects of a project, including the activities, deliverables and the timetable for the project.


Reference:

CIPS study guide page 118
LO 3, AC 3.1



Which of the following is the technology that disrupts traditional retail?

  1. Self-Driving Cars
  2. Blockchain
  3. E-commerce
  4. Robotics

Answer(s): C

Explanation:

One of the biggest disruptors in retail has been e-commerce. According to a report by IDC, in the month of December 2018, which is also the holiday season in the west, the e-commerce sector globally, has grown by 20 percent.
LO 2, AC 2.2



A buying organisation may not have technical capability to produce a highly complex specification.
Which of the following are sources of information that can be used to create the specification? Select 2 that apply

  1. Standard terms and conditions
  2. Name cards
  3. Industry standards
  4. Suppliers' know-how
  5. Constitution

Answer(s): C,D

Explanation:

If an organisation doesn't have capability to produce a technical specification, they can draft one based on standards or consulting the suppliers.


Reference:

CIPS study guide page 125-130
LO 3, AC 3.1



Which of the following is the best definition of target costing?

  1. The net present cost of the purchase or project and all future revenues flowing from it discounted back to the present time.
  2. The total of all costs in acquiring goods or services from the inception of the demand for them until their safe and satisfactory delivery at the point required.
  3. The cost of a product after analysing its components step by step
  4. A product cost estimate derived from a competitive market price.

Answer(s): D

Explanation:

Target costing is an activity aimed at reducing the life-cycle costs of new products, while ensuring quality, reliability, and other consumer requirements by examining all possible ideas for cost reduction at the product planning, research and development and prototyping phases of production. But it is not just a cost reduction technique; it is part of a comprehensive strategic profit management system.


Reference:

CIPS study guide page 161
LO 3, AC 3.4






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