QDM Exam 1 (69 Questions) – Operations Management, Strategy & Forecasting

This document is a complete and verified compilation of 69 multiple-choice questions and detailed answers from QDM Exam 1 for the 2025/2026 academic year, designed to support students studying Quality and Decision Making (QDM). It focuses on key areas of Operations Management, strategy, project management, productivity, and forecasting, and is structured to help students gain full exam readiness with confidence. Major concepts covered include: Operations Management fundamentals and decision areas Comparison of goods vs. services Calculation and interpretation of single-factor and multifactor productivity Contributions of Taylor, Ford, and Deming in operations theory Understanding of competitive advantage: cost leadership, differentiation, and responsiveness Strategic frameworks including SWOT analysis, Porter’s Five Forces, core competencies, and key success factors (KSFs) Project management tools like Gantt charts, PERT, and CPM including slack, variance, and crash cost analysis Global strategies: multidomestic, global, and transnational models Quantitative and qualitative forecasting techniques such as exponential smoothing, Delphi method, and regression Applications of activity mapping, balanced scorecards, and agile methods like Scrum This study guide is ideal for students in: Operations Management Business Administration Industrial Engineering Supply Chain and Logistics Strategic Management Project Management Decision Sciences It is suitable for undergraduate and graduate-level learners preparing for exams, assignments, and professional assessments in business and engineering faculties. It aligns with U.S. and international university curricula, and provides comprehensive explanations for both conceptual and applied questions. Keywords: operations management, productivity, goods vs services, single-factor productivity, multifactor productivity, forecasting, Gantt charts, PERT, CPM, strategy, SWOT analysis, Porter’s five forces, core competencies, competitive advantage, global strategy, project management, cost leadership, exponential smoothing, Delphi method, supply chain, decision making, activity map, balanced scorecard, agile, scrum