MBA 745 Final Exam Questions And Correct
Answers| Latest Update
1.Value Stream
all activities (value added, business value added, and non-value added) required to meet a
customer or stakeholder request.
2.Types of Value Stream
Products
Services
Ideas
Sales
Resources
Projects
3.Types of Value Stream
Products: A product used from materials to the point of use by the customer
4.Types of Value Stream
Services: A service from suppliers to solving the need of a customer (ex barber, police, etc)
,start when notified service is required, end when service is provided
5.Types of Value Stream: Ideas
from concept to implementation (new products and services)
concept through product launch
6.Types of Value Stream: Sales
new business from marketing to closing the deal
Prospect to Order
7.Types of Value Stream: Resources
from justification to retirement at end of use (recruiting of new employees through retirement)
Equipment and people
8.Types of Value Stream: Projects
Projects from concept o implementation and support (ex lean transformation project - from
concept through implementation)
Concept to Improvement
,9.Value Stream Manager
designated as the owner of a value stream which crosses functional boundaries. They are
champions for future state design and implementation, creating flow and leverage pull across all
functions
10.Value Stream Map
A visual representation of activities and flows of information, materials, and services required to
accomplish specific objectives.
11.Value Stream Flows
> Materials, Products and Services >
< Funds and Returns <
< Information >
12.A current state value stream map must be...
...at the level of detail which identifies the waste.
13.Mapping the Value Stream - 1-10
1. Identify Mapping Team
2. Identify Value Stream
3. Identify Suppliers
4. Identify Inputs
, 5. Identify Process
6. Identify Outputs
7. Identify Customers
8. Other Stakeholders
9. Speculate Value
10. Champion Approval
14.Steps 11-20: Creating the map: 11. Choose Approach
12. Choose Symbols
13. Identify Big Activities
14. Decide what information
15. Variation and Priorities
16. Collect information
17. Get facts (not memory)
18. Something Happening
19. Nothing Happening
20. Value Add Guestimate
15.SPIOC
Suppliers, Inputs, Process, Outputs, Customers
16.Value Add Guestimate
total time something is happening divided by the total time.
Answers| Latest Update
1.Value Stream
all activities (value added, business value added, and non-value added) required to meet a
customer or stakeholder request.
2.Types of Value Stream
Products
Services
Ideas
Sales
Resources
Projects
3.Types of Value Stream
Products: A product used from materials to the point of use by the customer
4.Types of Value Stream
Services: A service from suppliers to solving the need of a customer (ex barber, police, etc)
,start when notified service is required, end when service is provided
5.Types of Value Stream: Ideas
from concept to implementation (new products and services)
concept through product launch
6.Types of Value Stream: Sales
new business from marketing to closing the deal
Prospect to Order
7.Types of Value Stream: Resources
from justification to retirement at end of use (recruiting of new employees through retirement)
Equipment and people
8.Types of Value Stream: Projects
Projects from concept o implementation and support (ex lean transformation project - from
concept through implementation)
Concept to Improvement
,9.Value Stream Manager
designated as the owner of a value stream which crosses functional boundaries. They are
champions for future state design and implementation, creating flow and leverage pull across all
functions
10.Value Stream Map
A visual representation of activities and flows of information, materials, and services required to
accomplish specific objectives.
11.Value Stream Flows
> Materials, Products and Services >
< Funds and Returns <
< Information >
12.A current state value stream map must be...
...at the level of detail which identifies the waste.
13.Mapping the Value Stream - 1-10
1. Identify Mapping Team
2. Identify Value Stream
3. Identify Suppliers
4. Identify Inputs
, 5. Identify Process
6. Identify Outputs
7. Identify Customers
8. Other Stakeholders
9. Speculate Value
10. Champion Approval
14.Steps 11-20: Creating the map: 11. Choose Approach
12. Choose Symbols
13. Identify Big Activities
14. Decide what information
15. Variation and Priorities
16. Collect information
17. Get facts (not memory)
18. Something Happening
19. Nothing Happening
20. Value Add Guestimate
15.SPIOC
Suppliers, Inputs, Process, Outputs, Customers
16.Value Add Guestimate
total time something is happening divided by the total time.
