ISDS 3115 STANDARD EXAMS ANSWERS AND
QUESTIONS SET A+
✔✔competing on cost: low-cost leadership - ✔✔means achieving maximum value, as
perceived by the customer
does not imply low quality
✔✔competing on response: flexibility - ✔✔matching market changes in design
innovation and volumes
✔✔competing on response: reliability - ✔✔meeting schedules
✔✔competing on response: quickness - ✔✔in design, production, and delivery
✔✔strategy development process: SWOT analysis stands for - ✔✔Strengths
Weaknesses
Opportunities
Threats
✔✔SWOT analysis - ✔✔analyze the environment: identify strengths, weaknesses,
opportunities, and threats. understand the environment, customers, industry, and
competitors
determine the corporate mission: state the reason for the firm's existence and identify
the value it wishes to create
form a strategy: build a competitive advantage, such as low price, design or volume
flexibility, quality, quick delivery, dependability, after-sale services, or broad product
lines
✔✔strategic planning, core competencies, and outsourcing:
outsourcing is accelerating due to - ✔✔1. increased technological expertise
,2. more reliable and cheaper transportation
3. rapid development and deployment of advancements in telecommunications and
computers
✔✔outsourcing - ✔✔transferring activities that have traditionally been internal to
external suppliers
✔✔advantages of outsourcing - ✔✔cost savings
gaining outside expertise that comes with specialization
improving operations and service
maintaining a focus on core competencies
accessing outside technology
✔✔disadvantages of outsourcing - ✔✔increased logistics and inventory costs
loss of control (quality, delivery, etc.)
potential creation of future competition
negative impact on employees
risks may not manifest themselves for years
✔✔project characteristics - ✔✔single unit
many related activities
difficult production planning and inventory control
general purpose equipment used
high labor skills
✔✔management of projects - ✔✔1. planning
2. scheduling
3. controlling
✔✔management of projects: planning - ✔✔goal setting, defining the project, team
organization
, ACTIVITIES:
- objectives
- resources
- work breakdown structure
- organization
✔✔management of projects: scheduling - ✔✔relate people, money, and supplies to
specific activities and activities to each other
ACTIVITIES:
- project activities
- start and end times
- network
✔✔management of projects: controlling - ✔✔monitor resources, costs, quality, and
budgets; revise plans and shift resources to meet time and cost demands
ACTIVITIES:
- monitor
- compare
- revise
- action
✔✔the role of the project manager - ✔✔highly visible, responsible for making sure that:
1. all necessary activities are finished in proper sequence and on time
2. the project comes in within budget
3. the project meets its quality goals
4. the people assigned to the project receive motivation, direction, and information to do
their jobs
✔✔project managers should be - ✔✔good coaches
good communicators
able to organize activities from a variety of disciplines
✔✔planning the project (before project) - ✔✔set the goals - time, cost, performance
define the project
develop work breakdown structure
identify team/resources
✔✔scheduling the project - ✔✔sequence activities
QUESTIONS SET A+
✔✔competing on cost: low-cost leadership - ✔✔means achieving maximum value, as
perceived by the customer
does not imply low quality
✔✔competing on response: flexibility - ✔✔matching market changes in design
innovation and volumes
✔✔competing on response: reliability - ✔✔meeting schedules
✔✔competing on response: quickness - ✔✔in design, production, and delivery
✔✔strategy development process: SWOT analysis stands for - ✔✔Strengths
Weaknesses
Opportunities
Threats
✔✔SWOT analysis - ✔✔analyze the environment: identify strengths, weaknesses,
opportunities, and threats. understand the environment, customers, industry, and
competitors
determine the corporate mission: state the reason for the firm's existence and identify
the value it wishes to create
form a strategy: build a competitive advantage, such as low price, design or volume
flexibility, quality, quick delivery, dependability, after-sale services, or broad product
lines
✔✔strategic planning, core competencies, and outsourcing:
outsourcing is accelerating due to - ✔✔1. increased technological expertise
,2. more reliable and cheaper transportation
3. rapid development and deployment of advancements in telecommunications and
computers
✔✔outsourcing - ✔✔transferring activities that have traditionally been internal to
external suppliers
✔✔advantages of outsourcing - ✔✔cost savings
gaining outside expertise that comes with specialization
improving operations and service
maintaining a focus on core competencies
accessing outside technology
✔✔disadvantages of outsourcing - ✔✔increased logistics and inventory costs
loss of control (quality, delivery, etc.)
potential creation of future competition
negative impact on employees
risks may not manifest themselves for years
✔✔project characteristics - ✔✔single unit
many related activities
difficult production planning and inventory control
general purpose equipment used
high labor skills
✔✔management of projects - ✔✔1. planning
2. scheduling
3. controlling
✔✔management of projects: planning - ✔✔goal setting, defining the project, team
organization
, ACTIVITIES:
- objectives
- resources
- work breakdown structure
- organization
✔✔management of projects: scheduling - ✔✔relate people, money, and supplies to
specific activities and activities to each other
ACTIVITIES:
- project activities
- start and end times
- network
✔✔management of projects: controlling - ✔✔monitor resources, costs, quality, and
budgets; revise plans and shift resources to meet time and cost demands
ACTIVITIES:
- monitor
- compare
- revise
- action
✔✔the role of the project manager - ✔✔highly visible, responsible for making sure that:
1. all necessary activities are finished in proper sequence and on time
2. the project comes in within budget
3. the project meets its quality goals
4. the people assigned to the project receive motivation, direction, and information to do
their jobs
✔✔project managers should be - ✔✔good coaches
good communicators
able to organize activities from a variety of disciplines
✔✔planning the project (before project) - ✔✔set the goals - time, cost, performance
define the project
develop work breakdown structure
identify team/resources
✔✔scheduling the project - ✔✔sequence activities
