LOMA 335 EXAM QUESTIONS
WITH COMPLETE SOLUTIONS
GRADED A+
professional code of conduct - Answer-A listing of behavioral standards required of
members of a profession who agree to support the standards as part of maintaining
their professional standing. [13]
program - Answer-A plan or system of action directed toward a specified goal. [11]
project - Answer-A planned undertaking with a specific phased approach, plan, or
design for achieving a unique specified end. [11]
project baselines - Answer-A collection of project performance standards for time,
scope, and cost. Also known as project performance management baselines. [14]
project budget - Answer-The projected operational results of the project in its entirety,
including standard costs and potentially standard times. [14]
project change - Answer-An acknowledged departure from a project's original project
plan. [14]
project charter - Answer-A document authorized by the project sponsor and formally
establishing the existence of a project. [14]
project constraint - Answer-A circumstance that places limitations on a project, and
traditionally includes scope, time and cost. [14]
project lifecycle - Answer-The combination of all project phases from project initiation to
project closure. [14]
project manager - Answer-the person accountable for fulfilling the functions of planning,
organizing, directing and controlling resources so as to achieve a project's established
goal or goals. [14]
project organization chart - Answer-A chart that records a project's lines of authority,
responsibility, accountability, and communication. [14]
project phase - Answer-A segment of the project lifecycle consisting of a set of related
project activities. [14]
,project plan - Answer-A formal, approved document used to guide a project through
execution. [14]
project portfolio management (PPM) approach - Answer-A project management
approach that consists of treating all company projects as a project portfolio and
coordinating all projects with one another. [14]
project schedule - Answer-A document that shows links between project elements;
notes dependencies; and shows a sequence that satisfies the project's goals and
constraints, including terminal elements with scheduled start dates and finish dates, as
well as planned dates for performing project activities and meeting project milestones.
[14]
project scope baseline - Answer-The formally authorized version of the combination of a
project's scope statement and work breakdown structure. [14]
project scope - Answer-The totality of results that a project will produce. [14]
project sponsor - Answer-A company executive who authorizes the project, provides
supportive resources to the project, and communicates project information up the
organizational chain of command on behalf of the project. Also known as project
champion or executive sponsor. [14]
project stakeholder - Answer-An internal or external party who has an interest in a
project and expects to benefit from it. [14]
project status - Answer-A project's progress toward completion at a point in time. [14]
project team member - Answer-In project management, a person assigned to perform a
portion of project activities. [14]
project team - Answer-In project management, all people assembled for accomplishing
a project. [14]
project timeline - Answer-In project management, a graphical representation of a
chronological sequence of a project, typically providing only summary information, and
intended to provide an executive overview. Also known as chronology. [14]
projection - Answer-An extension of a mathematical pattern observed in known data
created for the purpose of estimating unknown data. [8]
proposition - Answer-For business research, a statement describing relationships
among research variables and formulated so that it may be verified or refuted. [6]
,protege - Answer-In a mentoring relationship, the less experienced employee, who is
sponsored and supported by the more experienced employee, known as a mentor. [3]
protocol - Answer-A set of rules determining the format and transmission of electronic
data. [13]
Public Company Auditing Oversight Board (PCAOB) - Answer-a private-sector, non-
profit corporation established to oversee the auditors of public companies in order to
protect the interests of investors and further the public interest in the preparation of
informative, fair, and independent audit reports. [13]
publication bias - Answer-A consistent cognitive error consisting of a tendency to
overemphasize research evidence that has been published widely as opposed to results
that received limited distribution. [6]
punishment - Answer-In behavior modification, the process of discouraging a specific
behavior by immediately presenting an undesirable consequence or removing
something desirable. Contrast with negative reinforcement. [3]
pure research - Answer-Research designed to solve theoretical problems, with no
contemplated application to business purposes. Also known as basic research. [6]
qualitative forecasting method - Answer-A forecasting method that uses non-
mathematical models and relies on customer opinion, sales producer opinion, expert
opinion, and other subjective factors as a basis for projecting unknown values. Also
known as judgmental forecasting method. [8]
qualitative research - Answer-research designed to apply inductive reasoning to
interpret verbal information, potentially along with some numerical information, ad then
to generate verbal descriptions of phenomena associated with a specified research
subject.
quality circle (QC) - Answer-A voluntary group of five to ten employees who meet
regularly to discuss quality improvement and ways to reduce costs. A quality circle
typically consists of a group of employees and their supervisor from a single operational
area. Also known as quality control circle. [4, 10]
quantitative forecasting method - Answer-A forecasting method that uses mathematical
models that incorporate data about past events and values in order to project future
events. [8]
quantitative research - Answer-Research designed to examine exclusively numerical
information and generate numerical information about the characteristics of a
phenomenon under analysis. [6]
, queuing management systems - Answer-Electronic software systems used to model
and analyze work processes affected by waiting lines, and then to establish appropriate
rules for automatically routing service objects to service destinations. [11]
random error - Answer-An error due to imprecision in measurement or variability in
sampling. [6]
random number generator - Answer-a table or software application that automatically
identifies a pattern of values that would be produced by sampling a probability
distribution. [9]
random traffic - Answer-In a contact center, traffic that arrives in a haphazard manner;
also known as random arrival. [12]
random variable - Answer-In a quantitative model, a variable whose values represent all
possible outcomes. [9]
random variations - Answer-Changes in a trend that are either unexpected or are one-
time occurrences. [8]
range - Answer-The difference between the highest and lowest values in a particular
population. [9]
rating agency - Answer-A cop any that researches individual public companions and
publishes information about the companies it rates. [13]
rational persuasion - Answer-A type of influence tactic in which a person attempts to
convince others through the use of logic, reason, education or a detailed plan. [3]
readerboard - Answer-An electronic screen mounted in a contact center that displays
real time statistics and recent performance results for a particular work group. Also
called suspended monitor or electronic display. [12]
reference bias - Answer-A survey design error that consists of a tendency for the
sequence of topics, questions, and activities to bias answers. [6]
referent power - Answer-Power that arises when others identify with a person who has
desirable resources or personal traits and comply solely on that basis. [3]
regression analysis - Answer-Projecting the value of one dependent variable basedon
its change over time in relation to changes in one or more independent variables. [8]
regression model - Answer-A mathematical statement of a relationship between a
dependent variable and one or more independent variables. [8]
WITH COMPLETE SOLUTIONS
GRADED A+
professional code of conduct - Answer-A listing of behavioral standards required of
members of a profession who agree to support the standards as part of maintaining
their professional standing. [13]
program - Answer-A plan or system of action directed toward a specified goal. [11]
project - Answer-A planned undertaking with a specific phased approach, plan, or
design for achieving a unique specified end. [11]
project baselines - Answer-A collection of project performance standards for time,
scope, and cost. Also known as project performance management baselines. [14]
project budget - Answer-The projected operational results of the project in its entirety,
including standard costs and potentially standard times. [14]
project change - Answer-An acknowledged departure from a project's original project
plan. [14]
project charter - Answer-A document authorized by the project sponsor and formally
establishing the existence of a project. [14]
project constraint - Answer-A circumstance that places limitations on a project, and
traditionally includes scope, time and cost. [14]
project lifecycle - Answer-The combination of all project phases from project initiation to
project closure. [14]
project manager - Answer-the person accountable for fulfilling the functions of planning,
organizing, directing and controlling resources so as to achieve a project's established
goal or goals. [14]
project organization chart - Answer-A chart that records a project's lines of authority,
responsibility, accountability, and communication. [14]
project phase - Answer-A segment of the project lifecycle consisting of a set of related
project activities. [14]
,project plan - Answer-A formal, approved document used to guide a project through
execution. [14]
project portfolio management (PPM) approach - Answer-A project management
approach that consists of treating all company projects as a project portfolio and
coordinating all projects with one another. [14]
project schedule - Answer-A document that shows links between project elements;
notes dependencies; and shows a sequence that satisfies the project's goals and
constraints, including terminal elements with scheduled start dates and finish dates, as
well as planned dates for performing project activities and meeting project milestones.
[14]
project scope baseline - Answer-The formally authorized version of the combination of a
project's scope statement and work breakdown structure. [14]
project scope - Answer-The totality of results that a project will produce. [14]
project sponsor - Answer-A company executive who authorizes the project, provides
supportive resources to the project, and communicates project information up the
organizational chain of command on behalf of the project. Also known as project
champion or executive sponsor. [14]
project stakeholder - Answer-An internal or external party who has an interest in a
project and expects to benefit from it. [14]
project status - Answer-A project's progress toward completion at a point in time. [14]
project team member - Answer-In project management, a person assigned to perform a
portion of project activities. [14]
project team - Answer-In project management, all people assembled for accomplishing
a project. [14]
project timeline - Answer-In project management, a graphical representation of a
chronological sequence of a project, typically providing only summary information, and
intended to provide an executive overview. Also known as chronology. [14]
projection - Answer-An extension of a mathematical pattern observed in known data
created for the purpose of estimating unknown data. [8]
proposition - Answer-For business research, a statement describing relationships
among research variables and formulated so that it may be verified or refuted. [6]
,protege - Answer-In a mentoring relationship, the less experienced employee, who is
sponsored and supported by the more experienced employee, known as a mentor. [3]
protocol - Answer-A set of rules determining the format and transmission of electronic
data. [13]
Public Company Auditing Oversight Board (PCAOB) - Answer-a private-sector, non-
profit corporation established to oversee the auditors of public companies in order to
protect the interests of investors and further the public interest in the preparation of
informative, fair, and independent audit reports. [13]
publication bias - Answer-A consistent cognitive error consisting of a tendency to
overemphasize research evidence that has been published widely as opposed to results
that received limited distribution. [6]
punishment - Answer-In behavior modification, the process of discouraging a specific
behavior by immediately presenting an undesirable consequence or removing
something desirable. Contrast with negative reinforcement. [3]
pure research - Answer-Research designed to solve theoretical problems, with no
contemplated application to business purposes. Also known as basic research. [6]
qualitative forecasting method - Answer-A forecasting method that uses non-
mathematical models and relies on customer opinion, sales producer opinion, expert
opinion, and other subjective factors as a basis for projecting unknown values. Also
known as judgmental forecasting method. [8]
qualitative research - Answer-research designed to apply inductive reasoning to
interpret verbal information, potentially along with some numerical information, ad then
to generate verbal descriptions of phenomena associated with a specified research
subject.
quality circle (QC) - Answer-A voluntary group of five to ten employees who meet
regularly to discuss quality improvement and ways to reduce costs. A quality circle
typically consists of a group of employees and their supervisor from a single operational
area. Also known as quality control circle. [4, 10]
quantitative forecasting method - Answer-A forecasting method that uses mathematical
models that incorporate data about past events and values in order to project future
events. [8]
quantitative research - Answer-Research designed to examine exclusively numerical
information and generate numerical information about the characteristics of a
phenomenon under analysis. [6]
, queuing management systems - Answer-Electronic software systems used to model
and analyze work processes affected by waiting lines, and then to establish appropriate
rules for automatically routing service objects to service destinations. [11]
random error - Answer-An error due to imprecision in measurement or variability in
sampling. [6]
random number generator - Answer-a table or software application that automatically
identifies a pattern of values that would be produced by sampling a probability
distribution. [9]
random traffic - Answer-In a contact center, traffic that arrives in a haphazard manner;
also known as random arrival. [12]
random variable - Answer-In a quantitative model, a variable whose values represent all
possible outcomes. [9]
random variations - Answer-Changes in a trend that are either unexpected or are one-
time occurrences. [8]
range - Answer-The difference between the highest and lowest values in a particular
population. [9]
rating agency - Answer-A cop any that researches individual public companions and
publishes information about the companies it rates. [13]
rational persuasion - Answer-A type of influence tactic in which a person attempts to
convince others through the use of logic, reason, education or a detailed plan. [3]
readerboard - Answer-An electronic screen mounted in a contact center that displays
real time statistics and recent performance results for a particular work group. Also
called suspended monitor or electronic display. [12]
reference bias - Answer-A survey design error that consists of a tendency for the
sequence of topics, questions, and activities to bias answers. [6]
referent power - Answer-Power that arises when others identify with a person who has
desirable resources or personal traits and comply solely on that basis. [3]
regression analysis - Answer-Projecting the value of one dependent variable basedon
its change over time in relation to changes in one or more independent variables. [8]
regression model - Answer-A mathematical statement of a relationship between a
dependent variable and one or more independent variables. [8]
