MBA 745 Final EXAM, comprehensive questions and verified answers
QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT |!
1.Value Stream - (answer)all activities (value added, business value added, and non-value added)
required to meet a customer or stakeholder request.
2.Types of Value Stream - (answer)Products
Services
Ideas
Sales
Resources
Projects
3.Types of Value Stream - (answer)Products: A product used from materials to the point of use by the
customer
4.Types of Value Stream - (answer)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 - (answer)from concept to implementation (new products and services)
concept through product launch
6.Types of Value Stream: Sales - (answer)new business from marketing to closing the deal
Prospect to Order
7.Types of Value Stream: Resources - (answer)from justification to retirement at end of use (recruiting of
new employees through retirement)
,MBA 745 Final EXAM, comprehensive questions and verified answers
QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT |!
Equipment and people
8.Types of Value Stream: Projects - (answer)Projects from concept o implementation and support (ex
lean transformation project - from concept through implementation)
Concept to Improvement
9.Value Stream Manager - (answer)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 - (answer)A visual representation of activities and flows of information, materials,
and services required to accomplish specific objectives.
11.Value Stream Flows - (answer)> Materials, Products and Services >
< Funds and Returns <
< Information >
12.A current state value stream map must be... - (answer)...at the level of detail which identifies the
waste.
13.Mapping the Value Stream - 1-10 - (answer)1. Identify Mapping Team
2. Identify Value Stream
3. Identify Suppliers
4. Identify Inputs
5. Identify Process
6. Identify Outputs
,MBA 745 Final EXAM, comprehensive questions and verified answers
QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT |!
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 - (answer)Suppliers, Inputs, Process, Outputs, Customers
16.Value Add Guestimate - (answer)total time something is happening divided by the total time.
17.Check Sheet - (answer)a tool for recording and organizing data to identify a problem
18.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.
19.4 rules of run chart - (answer)STAR
- Shift
, MBA 745 Final EXAM, comprehensive questions and verified answers
QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT |!
- Trend
- Astronomical
- Runs
20.Run Chart - (answer)Shift: when too much data is grouped above or below the lines (rule of 6)
21.Run Chart - (answer)Trend: When a consecutive group is going up or going down (5 points)
22.Run Chart - (answer)Astronomical: When there is an outlier
3.Run Chart - (answer)Runs: (too few or too many) - number of times the median line is crossed
24.Value Stream Map - (answer): a visual representation of activities and flows of information,
materials, and services required to accomplish specific objectives.
25.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.
26.Made to Stock - (answer)Environment where products can be and usually are finished before receipt
of a customer order (ex - grocery store)
27.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
28.Make to Order - (answer)a) An environment where a good or service is made after receipt of a
customer's order
b) Relatively long lead time to ship after the order is received --> carry less stock
QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT |!
1.Value Stream - (answer)all activities (value added, business value added, and non-value added)
required to meet a customer or stakeholder request.
2.Types of Value Stream - (answer)Products
Services
Ideas
Sales
Resources
Projects
3.Types of Value Stream - (answer)Products: A product used from materials to the point of use by the
customer
4.Types of Value Stream - (answer)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 - (answer)from concept to implementation (new products and services)
concept through product launch
6.Types of Value Stream: Sales - (answer)new business from marketing to closing the deal
Prospect to Order
7.Types of Value Stream: Resources - (answer)from justification to retirement at end of use (recruiting of
new employees through retirement)
,MBA 745 Final EXAM, comprehensive questions and verified answers
QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT |!
Equipment and people
8.Types of Value Stream: Projects - (answer)Projects from concept o implementation and support (ex
lean transformation project - from concept through implementation)
Concept to Improvement
9.Value Stream Manager - (answer)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 - (answer)A visual representation of activities and flows of information, materials,
and services required to accomplish specific objectives.
11.Value Stream Flows - (answer)> Materials, Products and Services >
< Funds and Returns <
< Information >
12.A current state value stream map must be... - (answer)...at the level of detail which identifies the
waste.
13.Mapping the Value Stream - 1-10 - (answer)1. Identify Mapping Team
2. Identify Value Stream
3. Identify Suppliers
4. Identify Inputs
5. Identify Process
6. Identify Outputs
,MBA 745 Final EXAM, comprehensive questions and verified answers
QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT |!
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 - (answer)Suppliers, Inputs, Process, Outputs, Customers
16.Value Add Guestimate - (answer)total time something is happening divided by the total time.
17.Check Sheet - (answer)a tool for recording and organizing data to identify a problem
18.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.
19.4 rules of run chart - (answer)STAR
- Shift
, MBA 745 Final EXAM, comprehensive questions and verified answers
QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT |!
- Trend
- Astronomical
- Runs
20.Run Chart - (answer)Shift: when too much data is grouped above or below the lines (rule of 6)
21.Run Chart - (answer)Trend: When a consecutive group is going up or going down (5 points)
22.Run Chart - (answer)Astronomical: When there is an outlier
3.Run Chart - (answer)Runs: (too few or too many) - number of times the median line is crossed
24.Value Stream Map - (answer): a visual representation of activities and flows of information,
materials, and services required to accomplish specific objectives.
25.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.
26.Made to Stock - (answer)Environment where products can be and usually are finished before receipt
of a customer order (ex - grocery store)
27.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
28.Make to Order - (answer)a) An environment where a good or service is made after receipt of a
customer's order
b) Relatively long lead time to ship after the order is received --> carry less stock
