Mixed Deck — All PCC Topics Flashcards

Which consulting framework divides a client organization's capabilities into primary and support activities to identify sources of competitive advantage?

Answer: Porter's Value Chain

Porter's Value Chain breaks down organizational activities into primary and support functions to reveal where value is created and competitive advantage can be gained.

Which analysis determines how changes in key assumptions affect a financial model's outcome?

Answer: Sensitivity analysis

Sensitivity analysis varies inputs one at a time to see their effect on results.

During an engagement, a consultant uncovers evidence that the client is knowingly violating environmental laws. What is generally the most appropriate initial action?

Answer: Raise the issue with appropriate client leadership and seek legal guidance on obligations

Consultants should escalate serious illegal conduct within the client and consider legal obligations rather than ignore or conceal it.

A consultant realizes midway through a project that they lack the technical expertise required for a new workstream. The most professional response is to:

Answer: Disclose the gap and recommend bringing in a qualified specialist

Professional competence standards require consultants to accept only work they can perform or to obtain qualified help transparently.

What quality assurance measure supports core concepts and principles?

Answer: Regular self-assessment, peer review, and adherence to established standards

Ongoing quality assurance through self-assessment, peer review, and standards adherence ensures continuous improvement.

What is the primary purpose of a written engagement letter or statement of work?

Answer: To document scope, deliverables, fees, timelines, and responsibilities so expectations are clear

An engagement letter sets clear, mutually agreed expectations and reduces misunderstandings.

Which phase involves monitoring the project’s progress?

Answer: Execution & Monitoring

The Execution & Monitoring phase is where the project plan is put into action, and the actual work of the project is performed. During this phase, project managers continuously track progress, manage resources, address issues, and compare actual performance against the planned schedule and budget. This ongoing oversight ensures the project stays on track and within scope, allowing for timely adjustments.

Comparing a client's processes and metrics with industry best-in-class performers is called:

Answer: Benchmarking

Benchmarking compares performance against peers or leaders to find improvement gaps.

If a project's net present value (NPV) is positive at the firm's cost of capital, it generally means:

Answer: The project is expected to create value above the required return

A positive NPV means discounted inflows exceed the investment at the required rate.

In a fishbone (Ishikawa) diagram, what is placed at the 'head' of the fish?

Answer: The problem or effect being analyzed

The head holds the effect, and the bones represent categories of potential causes.

Which structured problem-solving approach follows the phases: Define, Measure, Analyze, Improve, Control?

Answer: DMAIC

DMAIC is the core Six Sigma methodology for improving existing processes, progressing through five disciplined phases to reduce defects and variability.

A consultant reallocates staff so no one exceeds 40 hours per week, which extends the critical path. What technique was used?

Answer: Resource leveling

Resource leveling adjusts dates to address resource limits and can change the critical path, unlike smoothing.

Which is the best reason to choose CE topics based on a personal skills gap assessment?

Answer: It targets learning to areas that most improve competence and client service

Gap-based planning directs CE toward the skills that most strengthen professional practice.

Which cycle supports continuous improvement?

Answer: PDCA cycle

The PDCA (Plan-Do-Check-Act) cycle is a four-step iterative management method used for the control and continuous improvement of processes and products. It provides a structured approach to problem-solving and implementing changes, ensuring that improvements are systematically tested, evaluated, and standardized. This cycle is fundamental to quality management and continuous organizational learning.

What ethical standard governs safety and compliance practice?

Answer: Adherence to the profession's code of ethics and applicable laws and regulations

Professional ethics codes and applicable laws provide the framework for ethical practice in every professional field.

In a work breakdown structure (WBS), what is the lowest level of decomposition called?

Answer: Work package

The work package is the lowest WBS level, where cost and duration can be reliably estimated and managed.

What is the main purpose of a lessons-learned session at project closeout?

Answer: To capture knowledge that improves future engagements

Lessons learned document what worked and what didn't so future projects benefit from the experience.

How should professionals apply professional standards and ethics in daily practice?

Answer: Consistently integrate best practices into every aspect of professional work

Consistent application of professional standards ensures quality outcomes and builds professional credibility.

A client survey gives consistent results when administered twice to the same group a week apart. This demonstrates:

Answer: Test-retest reliability

Consistency over repeated administrations is test-retest reliability.

Which PESTLE factor would a new data privacy regulation fall under?

Answer: Legal

Data privacy laws are legal factors in a PESTLE analysis.