- All Exams Instant Download
Which of the following can directly affect labour variance? Select TWO that apply:
Which of the following can directly affect labour variance? Select TWO that apply:A . Wage rate per hourB . InflationC . Company's budgetD . Overhead expenditureE . OvertimeView AnswerAnswer: A, E Explanation: Labour variance refers to a situation in which actual costs of labor differ from projected or budgeted labor...
Which of the following correctly describe the process undertaken by IKEA project team?
Facing fiercer competition at home and abroad, IKEA, the leading furniture retailer, needs to im-prove its competitiveness. In order to do this, IKEA must decrease operating costs and improve quality of current and new retail stores. The company establishes a project team. The job of the team is to collect...
Which of the following are considered as direct costs in a construction company? Select TWO op-tions
Which of the following are considered as direct costs in a construction company? Select TWO op-tionsA . Raw materialsB . An employee is hired to work on a project, either exclusively or for an assigned number of hoursC . The materials and supplies needed for the company’s day-to-day operations.D ....
Interserve is a construction contractor in UK. When receiving a huge and complex project, Inter-serve’s procurement manager assesses the risks by quantifying them and recommends other stake-holders to plan mitigating actions. Is the procurement manager’s action justified?
Interserve is a construction contractor in UK. When receiving a huge and complex project, Inter-serve’s procurement manager assesses the risks by quantifying them and recommends other stake-holders to plan mitigating actions. Is the procurement manager’s action justified?A . No, because no risks can be quantified, therefore the procurement manager’s action...
Which of the following method is that purchaser applying?
A purchaser is looking for alternative supplies if there is a major disruption to their supply chain, including logistics, manufacturing and all support services. Which of the following method is that purchaser applying?A . Treat the riskB . Terminate the riskC . Tolerate the riskD . Transfer the riskView AnswerAnswer:...
Which of the following problems may be identified as open-ended problems? Select TWO that apply:
Which of the following problems may be identified as open-ended problems? Select TWO that apply:A . Shortage of key medicines in healthcare industryB . A cyber attack takes down whole company’s IT systemC . Engine failures cause flight cancellations.D . Logistics costs incur a large portion in wholesale pricesE ....
At which stage of through-life contract management, procurement team needs to identify sources of risk and the ways to mitigate them?
At which stage of through-life contract management, procurement team needs to identify sources of risk and the ways to mitigate them?A . Specification stageB . Supplier relationship stageC . Tendering stageD . Contracting stageView AnswerAnswer: B Explanation: Risk management has become incredibly complex, especially for capital purchase which requires through-life...
Which of the following indicates types of waste that procurement department concentrates on when adopting Lean methods?
Which of the following indicates types of waste that procurement department concentrates on when adopting Lean methods?A . DOWNTIMEB . VA/VEC . OWN-ITD . SCAMPERView AnswerAnswer: A Explanation: Copious amounts of waste can occur in the workplace, particularly in a manufacturing process, but do you know what the eight most...
Total cost of ownership of a solar panel is $5,000 and it is expected that the panel will make a sav-ing of $1,000 each year. So it would take 5 years for the benefits to repay the investment. Therefore, the firm plans to keep the solar panel for at least 5 years. Is payback period calculation right for making the business decision?
Total cost of ownership of a solar panel is $5,000 and it is expected that the panel will make a sav-ing of $1,000 each year. So it would take 5 years for the benefits to repay the investment. Therefore, the firm plans to keep the solar panel for at least...
Which of the following bodies provides standards for the products and services in the US?
Which of the following bodies provides standards for the products and services in the US?A . ISOB . ANSIC . AFNORD . BSIView AnswerAnswer: B Explanation: ANSI is the American National Standards Institute. It is responsible for providing technical standards in the US LO 3, AC 3.1
