Mixed Deck — All BSE Topics Flashcards

What is the purpose of acceptance sampling in quality control?

Answer: To determine whether to accept or reject a batch based on a sample inspection

Acceptance sampling uses statistical methods to inspect a representative sample from a batch and decide whether the entire batch meets quality requirements.

Which risk response strategy involves shifting the negative impact of a risk to a third party?

Answer: Transfer

Transferring a risk moves ownership of the risk and its consequences to another party, such as through insurance or outsourcing.

What is 'process capability' (Cp) a measure of?

Answer: The ability of a process to produce output within specification limits

Process capability (Cp) quantifies how well a process can produce output within customer-defined specification limits relative to the process's natural variation.

Which cost estimation technique uses the relationship between a new project's parameters and historical data from completed similar projects?

Answer: Parametric estimating

Parametric estimating uses statistical relationships between historical data and project variables (like cost per unit) to calculate estimates.

Which quality cost category includes costs incurred to prevent defects from occurring?

Answer: Prevention Costs

Prevention costs are investments made to stop defects from occurring, including training, process design, and quality planning activities.

What is the purpose of a project baseline?

Answer: To serve as an approved reference point for measuring project performance

A project baseline is the approved version of the plan used to compare actual performance and identify variances.

An engineering project has a Budget at Completion (BAC) of $200,000 and a Cost Performance Index (CPI) of 0.80. What is the Estimate at Completion (EAC) using the CPI-based formula?

Answer: $250,000

EAC = BAC / CPI = $200,000 / 0.80 = $250,000, meaning the project is projected to cost $50,000 more than budgeted.

A technology roadmap in strategic engineering management is primarily used to:

Answer: Align technology development timelines with business strategy and market needs

A technology roadmap visually links technology development plans to business objectives and market timelines, helping organizations make coordinated strategic investment decisions over time.

A manufacturer's throughput is constrained by a single workstation processing 80 units/hour while all others process 120+ units/hour. According to the Theory of Constraints, the first corrective action should be to:

Answer: Exploit the constraint by maximizing its utilization

The Theory of Constraints (TOC) prescribes first exploiting (fully utilizing) the existing constraint before spending money to elevate it.

In product development, what is the primary benefit of rapid prototyping?

Answer: To quickly create physical or digital models to test concepts, gather feedback, and reduce development risk

Rapid prototyping enables teams to quickly build and test physical or digital representations of a design to validate concepts, identify flaws, and incorporate user feedback before full investment.

In which project management methodology are daily stand-up meetings a key component?

Answer: Scrum

In Scrum, daily stand-up meetings, also known as daily scrums, are a fundamental component. These meetings provide a platform for the team to synchronize, discuss progress, address challenges, and plan for the day. This daily interaction enhances collaboration, transparency, and adaptability within the team, making Scrum an effective project management methodology.

The coefficient of variation (CV) is defined as:

Answer: Standard deviation divided by mean, expressed as a percentage

CV = (Standard Deviation / Mean) × 100%, and it measures relative variability, allowing comparison across datasets with different units or scales.

What is the key principle behind 'agile' innovation management approaches compared to traditional sequential (waterfall) models?

Answer: Agile delivers value incrementally through iterative cycles with continuous customer feedback

Agile approaches break development into short iterations (sprints), delivering working increments frequently and incorporating ongoing user feedback to adapt to changing requirements.

In risk management, what is the difference between a 'threat' and an 'opportunity'?

Answer: Threats are negative risks with adverse impacts; opportunities are positive risks with beneficial impacts

Risk management addresses both threats (negative events that could harm project objectives) and opportunities (positive events that could benefit project objectives if realized).

Which of the following is not a benefit of supply chain management?

Answer: Decreased efficiency

Supply chain management aims to enhance efficiency by providing insights into operations and processes, leading to increased output and customer satisfaction. It does not result in decreased efficiency.

When applying the Analytic Hierarchy Process (AHP) to a vendor selection decision, the consistency ratio (CR) should be:

Answer: Less than or equal to 0.10 to confirm judgment consistency

AHP requires a CR ≤ 0.10 (10%) to confirm that pairwise comparisons are sufficiently consistent; higher values indicate the judgments should be revisited.

Which depreciation method allocates an equal amount of cost each year over the asset's useful life?

Answer: Straight-Line Depreciation

Straight-line depreciation spreads the cost evenly by dividing (cost minus salvage value) by the useful life.

Why is effective supply chain management vital for companies?

Answer: To pass along savings to consumers

Effective supply chain management is vital for companies to minimize costs throughout the product life cycle, allowing them to pass along savings to consumers and offer competitive prices.

Which document formally closes a project or phase and confirms that all work has been completed?

Answer: Final project report / project closure document

The project closure document (or final report) formally confirms project completion and transfers deliverables to the appropriate stakeholders.

According to the Pareto Principle, approximately what percentage of problems are caused by a small percentage of causes?

Answer: 80% of problems come from 20% of causes

The Pareto Principle (80/20 rule) states that approximately 80% of effects come from 20% of causes, helping teams prioritize improvement efforts.