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MBA 745 FINAL EXAM QUESTIONS
AND ANSWERS LATEST .DOCX
Question : Value Stream
Correct Answer: All Activities (Value Added, Business
Value Added, And Non-value Added) Required To Meet A Customer Or Stakeholder Request.
Question : Types Of Value Stream
Correct Answer: Products Services Ideas Sales Resources
Projects
Question : Types Of Value Stream
Correct Answer: Products: A Product Used From Materials To The Point Of Use By The Customer
Question : Types Of Value Stream
Correct Answer: Services: A Service From Suppliers To Solving The Need Of A Customer (Ex Barber, Police, Etc) Start When Notified Service Is Required, End When Service Is Provided
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Question : Types Of Value Stream: Ideas
Correct Answer: From Concept To Implementation (New
Products And Services) Concept Through Product Launch
Question : Types Of Value Stream: Sales
Correct Answer: New Business From Marketing To
Closing The Deal Prospect To Order
Question : Types Of Value Stream: Resources
Correct Answer: From Justification To Retirement At End
Of Use (Recruiting Of New Employees Through Retirement) Equipment And People
Question : Types Of Value Stream: Projects
Correct Answer: Projects From Concept O
Implementation And Support (Ex Lean Transformation Project - From Concept Through Implementation) Concept To Improvement
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Question : Value Stream Manager
Correct Answer: Designated As The Owner Of A Value
Stream Which Crosses Functional Boundaries. They Are Champions For Future State Design And Implementation, Creating Flow And Leverage Pull Across All Functions
Question : Value Stream Map
Correct Answer: A Visual Representation Of Activities
And Flows Of Information, Materials, And Services Required To Accomplish Specific Objectives.
Question : Value Stream Flows
Correct Answer: > Materials, Products And Services > <
Funds And Returns < < Information >
Question : A Current State Value Stream Map Must Be...
Correct Answer: ...at The Level Of Detail Which
Identifies The Waste.
Question : Mapping The Value Stream - 1-10
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Correct Answer: 1. Identify Mapping Team 2. Identify
Value Stream 3. Identify Suppliers 4. Identify Inputs 5.Identify Process 6. Identify Outputs 7. Identify Customers
- Other Stakeholders 9. Speculate Value 10. Champion
Approval
Question : Steps 11-20: Creating The Map: 11. Choose Approach 12. Choose Symbols 13. Identify Big Activities
- Decide What Information 15. Variation And Priorities
- Collect Information 17. Get Facts (Not Memory) 18.
Something Happening 19. Nothing Happening 20. Value Add Guestimate Correct Answer: Steps 11-20: Creating The Map: 11.Choose Approach 12. Choose Symbols 13. Identify Big Activities 14. Decide What Information 15. Variation And Priorities 16. Collect Information 17. Get Facts (Not Memory) 18. Something Happening 19. Nothing Happening 20. Value Add Guestimate
Question : Spioc
Correct Answer: Suppliers, Inputs, Process, Outputs,
Customers