CDFM Module 2 Test Questions and
Answers| Latest Update
What is the theory that as the quantity of output doubles, the man-hours required to produce
the quantity decreases at a fixed rate? ✔️✔️Learning Curve Theory
What is the name of the integrated management tool intended to relate contractor actual
performance on a contract to the contractor's planned cost and schedule that measures the
work progress in objective terms and that states the value of the work completed in dollars?
✔️✔️Earned Value Management System
What is the EVM-related term when there is a difference between budgeted cost of work
performed (BCWP) and actual cost of work performed (ACWP) on a cost reimbursable contract?
✔️✔️Cost Variance
What is a systematic approach to the problem of choosing the best method of allocating scarce
resources to achieve a given objective? ✔️✔️Economic Analysis
Cost Savings, Cost Avoidance, and Productivity Improvements are examples of what type of
cost benefits? ✔️✔️Quantifiable Benefits
In regards to measures of central tendency, what is a mean? A mode? A median? ✔️✔️Mean is
the arithmetic average; mode is the most frequent score in a distribution of scores; median is
the middle of arrayed values
What does correlation measure? ✔️✔️Correlation measures the degree of relationship between
two or more variables
For a perfect correlation to exist, what would be the coefficient? ✔️✔️1.0
, When evaluating a proposed investment or project with costs and benefits occurring not only in
the current year but also future years, it is necessary to "bring back to today's dollars" all those
costs and benefits. What is this process determining? ✔️✔️Net Present Value of the proposed
investment or project
What is a radical redesign of key business processes that involves examination of the
fundamental process itself? ✔️✔️Business Process Reengineering (also called Business Process
Innovation)
To be successful, a BPR team should include individuals possessing what competencies and
experiences? ✔️✔️A member who does not know the process being reviewed; a member who
knows the process being reviewed very well; customer(s) of the process being reviewed; at
least a member from organizations that would be impacted by a change; at least on technology
guru; one or two of the "best and brightest" individuals of the organization; at least one
member from outside the impacted organization; and at least a senior person of the
organization considering a change in the process (to provide support of the effort) - probably
not an active member of the team
What is the suggested maximum number of participants on a reengineering team? ✔️✔️10
What is the process of measuring and comparing one's performance against "best-in-class"
organizations and then adapting the best practices of those organizations to improve one's own
performance? ✔️✔️Benchmarking
What law or regulation has as its goal the improvement of federal program effectiveness and
public accountability by promoting a focus on results, service quality, and customer
satisfaction? ✔️✔️Government Performance and Results Act (GPRA)
In federal agencies, how often must strategic plans required under the GPRA Modernization Act
of 2010 be updated? ✔️✔️Every 4 years
Federal agencies are required to submit to OMB and Congress several financial-related reports
on an annual basis. If the agency chooses to submit a consolidated report to satisfy that
Answers| Latest Update
What is the theory that as the quantity of output doubles, the man-hours required to produce
the quantity decreases at a fixed rate? ✔️✔️Learning Curve Theory
What is the name of the integrated management tool intended to relate contractor actual
performance on a contract to the contractor's planned cost and schedule that measures the
work progress in objective terms and that states the value of the work completed in dollars?
✔️✔️Earned Value Management System
What is the EVM-related term when there is a difference between budgeted cost of work
performed (BCWP) and actual cost of work performed (ACWP) on a cost reimbursable contract?
✔️✔️Cost Variance
What is a systematic approach to the problem of choosing the best method of allocating scarce
resources to achieve a given objective? ✔️✔️Economic Analysis
Cost Savings, Cost Avoidance, and Productivity Improvements are examples of what type of
cost benefits? ✔️✔️Quantifiable Benefits
In regards to measures of central tendency, what is a mean? A mode? A median? ✔️✔️Mean is
the arithmetic average; mode is the most frequent score in a distribution of scores; median is
the middle of arrayed values
What does correlation measure? ✔️✔️Correlation measures the degree of relationship between
two or more variables
For a perfect correlation to exist, what would be the coefficient? ✔️✔️1.0
, When evaluating a proposed investment or project with costs and benefits occurring not only in
the current year but also future years, it is necessary to "bring back to today's dollars" all those
costs and benefits. What is this process determining? ✔️✔️Net Present Value of the proposed
investment or project
What is a radical redesign of key business processes that involves examination of the
fundamental process itself? ✔️✔️Business Process Reengineering (also called Business Process
Innovation)
To be successful, a BPR team should include individuals possessing what competencies and
experiences? ✔️✔️A member who does not know the process being reviewed; a member who
knows the process being reviewed very well; customer(s) of the process being reviewed; at
least a member from organizations that would be impacted by a change; at least on technology
guru; one or two of the "best and brightest" individuals of the organization; at least one
member from outside the impacted organization; and at least a senior person of the
organization considering a change in the process (to provide support of the effort) - probably
not an active member of the team
What is the suggested maximum number of participants on a reengineering team? ✔️✔️10
What is the process of measuring and comparing one's performance against "best-in-class"
organizations and then adapting the best practices of those organizations to improve one's own
performance? ✔️✔️Benchmarking
What law or regulation has as its goal the improvement of federal program effectiveness and
public accountability by promoting a focus on results, service quality, and customer
satisfaction? ✔️✔️Government Performance and Results Act (GPRA)
In federal agencies, how often must strategic plans required under the GPRA Modernization Act
of 2010 be updated? ✔️✔️Every 4 years
Federal agencies are required to submit to OMB and Congress several financial-related reports
on an annual basis. If the agency chooses to submit a consolidated report to satisfy that
