MBA 745 Final Exam Questions and Answers Latest Update 2025
Value Stream - Answers all activities (value added, business value added, and non-value added)
required to meet a customer or stakeholder request.
Types of Value Streams - Answers Products
Services
Ideas
Sales
Resources
Projects
Define Product - Answers Something used from materials to the point of use by the customer
Define Services - Answers Performing an act that solves the need of a customer (ex barber,
police, etc.)
Define Idea - Answers A business concept taken from genesis to implementation
Define Sales - Answers Initiating new business from marketing to closing the deal
Define Resources - Answers Equipment and people
Define Projects - Answers Projects from concept to implementation and support (ex lean
transformation project - from concept through implementation)
Concept to Improvement
Value Stream Manager - Answers 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 - Answers A visual representation of activities and flows of information,
materials, and services required to accomplish specific objectives.
Value Stream Flows - Answers > Materials, Products and Services >
< Funds and Returns <
< Information >
A current state value stream map must be... - Answers ...at the level of detail which identifies
, the waste.
SIPOC - Answers Suppliers, Inputs, Process, Outputs, Customers
Check Sheet - Answers A tool for recording and organizing data to identify a problem
Run Charts - Answers 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 - Answers STAR
- Shift
- Trend
- Astronomical
- Runs
Define Shift (Run Chart) - Answers When too much data is grouped above or below the lines
Define Trend (Run Chart) - Answers When a consecutive group is going up or going down
Define Astronomical (Run Chart) - Answers Astronomical: When there is an outlier
Define Runs (Run Chart) - Answers (too few or too many) - number of times the median line is
crossed
Define Value Stream Map - Answers : a visual representation of activities and flows of
information, materials, and services required to accomplish specific objectives.
Define Value Stream Mapping - Answers : 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 - Answers Environment where products are finished before receipt of a customer
order (ex - grocery store)
Assemble/Finish to Order - Answers - 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
Make to Order - Answers 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
Design/Engineer to Order - Answers a) An environment where customer specifications require
Value Stream - Answers all activities (value added, business value added, and non-value added)
required to meet a customer or stakeholder request.
Types of Value Streams - Answers Products
Services
Ideas
Sales
Resources
Projects
Define Product - Answers Something used from materials to the point of use by the customer
Define Services - Answers Performing an act that solves the need of a customer (ex barber,
police, etc.)
Define Idea - Answers A business concept taken from genesis to implementation
Define Sales - Answers Initiating new business from marketing to closing the deal
Define Resources - Answers Equipment and people
Define Projects - Answers Projects from concept to implementation and support (ex lean
transformation project - from concept through implementation)
Concept to Improvement
Value Stream Manager - Answers 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 - Answers A visual representation of activities and flows of information,
materials, and services required to accomplish specific objectives.
Value Stream Flows - Answers > Materials, Products and Services >
< Funds and Returns <
< Information >
A current state value stream map must be... - Answers ...at the level of detail which identifies
, the waste.
SIPOC - Answers Suppliers, Inputs, Process, Outputs, Customers
Check Sheet - Answers A tool for recording and organizing data to identify a problem
Run Charts - Answers 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 - Answers STAR
- Shift
- Trend
- Astronomical
- Runs
Define Shift (Run Chart) - Answers When too much data is grouped above or below the lines
Define Trend (Run Chart) - Answers When a consecutive group is going up or going down
Define Astronomical (Run Chart) - Answers Astronomical: When there is an outlier
Define Runs (Run Chart) - Answers (too few or too many) - number of times the median line is
crossed
Define Value Stream Map - Answers : a visual representation of activities and flows of
information, materials, and services required to accomplish specific objectives.
Define Value Stream Mapping - Answers : 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 - Answers Environment where products are finished before receipt of a customer
order (ex - grocery store)
Assemble/Finish to Order - Answers - 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
Make to Order - Answers 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
Design/Engineer to Order - Answers a) An environment where customer specifications require
