MBA 745 Final Exam fully solved &
updated
Value Stream - answer all activities (value added, business value
added, and non-value added) required to meet a customer or
stakeholder request.
Types of Value Streams - answer Products
Services
Ideas
Sales
Resources
Projects
Define Product - answer Something used from materials to the point
of use by the customer
Define Services - answer Performing an act that solves the need of a
customer (ex barber, police, etc.)
Define Idea - answer A business concept taken from genesis to
implementation
Define Sales - answer Initiating new business from marketing to
closing the deal
Define Resources - answer Equipment and people
,Define Projects - answer Projects from concept to implementation
and support (ex lean transformation project - from concept through
implementation)
Concept to Improvement
Value Stream Manager - answer The owner of a value stream which
crosses functional boundaries. They are a champion for future state
design and implementation, creating flow and leverage pull across
all functions
Value Stream Map - answer A visual representation of activities and
flows of information, materials, and services required to accomplish
specific objectives.
Value Stream Flows - answer > Materials, Products and Services >
< Funds and Returns <
< Information >
A current state value stream map must be... - answer ...at the level
of detail which identifies the waste.
SIPOC - answer Suppliers, Inputs, Process, Outputs, Customers
Check Sheet - answer A tool for recording and organizing data to
identify a problem
Run Charts - answer type of chart used to show variations in the
process over time or to show trends (such as improvements or the
lack of improvements) in the process.
4 rules of run chart - answer STAR
, - Shift
- Trend
- Astronomical
- Runs
Define Shift (Run Chart) - answer When too much data is grouped
above or below the lines
Define Trend (Run Chart) - answer When a consecutive group is
going up or going down
Define Astronomical (Run Chart) - answer Astronomical: When there
is an outlier
Define Runs (Run Chart) - answer (too few or too many) - number of
times the median line is crossed
Define Value Stream Map - answer : a visual representation of
activities and flows of information, materials, and services required
to accomplish specific objectives.
Define Value Stream Mapping - answer : a team based systematic
approach to create value stream maps which identify waste in the
current state or paint the vision of a future state with less waste.
Made to Stock - answer Environment where products are finished
before receipt of a customer order (ex - grocery store)
Assemble/Finish to Order - answer - An environment a product or
service is assembled after receipt of a customer's order
- Products are typically a mix of standard items and prefabricated
modules
updated
Value Stream - answer all activities (value added, business value
added, and non-value added) required to meet a customer or
stakeholder request.
Types of Value Streams - answer Products
Services
Ideas
Sales
Resources
Projects
Define Product - answer Something used from materials to the point
of use by the customer
Define Services - answer Performing an act that solves the need of a
customer (ex barber, police, etc.)
Define Idea - answer A business concept taken from genesis to
implementation
Define Sales - answer Initiating new business from marketing to
closing the deal
Define Resources - answer Equipment and people
,Define Projects - answer Projects from concept to implementation
and support (ex lean transformation project - from concept through
implementation)
Concept to Improvement
Value Stream Manager - answer The owner of a value stream which
crosses functional boundaries. They are a champion for future state
design and implementation, creating flow and leverage pull across
all functions
Value Stream Map - answer A visual representation of activities and
flows of information, materials, and services required to accomplish
specific objectives.
Value Stream Flows - answer > Materials, Products and Services >
< Funds and Returns <
< Information >
A current state value stream map must be... - answer ...at the level
of detail which identifies the waste.
SIPOC - answer Suppliers, Inputs, Process, Outputs, Customers
Check Sheet - answer A tool for recording and organizing data to
identify a problem
Run Charts - answer type of chart used to show variations in the
process over time or to show trends (such as improvements or the
lack of improvements) in the process.
4 rules of run chart - answer STAR
, - Shift
- Trend
- Astronomical
- Runs
Define Shift (Run Chart) - answer When too much data is grouped
above or below the lines
Define Trend (Run Chart) - answer When a consecutive group is
going up or going down
Define Astronomical (Run Chart) - answer Astronomical: When there
is an outlier
Define Runs (Run Chart) - answer (too few or too many) - number of
times the median line is crossed
Define Value Stream Map - answer : a visual representation of
activities and flows of information, materials, and services required
to accomplish specific objectives.
Define Value Stream Mapping - answer : a team based systematic
approach to create value stream maps which identify waste in the
current state or paint the vision of a future state with less waste.
Made to Stock - answer Environment where products are finished
before receipt of a customer order (ex - grocery store)
Assemble/Finish to Order - answer - An environment a product or
service is assembled after receipt of a customer's order
- Products are typically a mix of standard items and prefabricated
modules
