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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 materials B. An employee is hired to work on a project, either exclusively or for an assigned number of hours C. The materials and supplies needed for the company’s day-to-day operations. D....
What is the output of regression analysis?
What is the output of regression analysis?A . Forecasting process B. Dependent variables C. Line of best fit D. Independent variablesView AnswerAnswer: C Explanation: Regression refers to a quantitative measure of the relationship between one or more independent variables and a resulting dependent variable. Regression is of use to professionals...
Which of the following activities are considered as secondary activities of an organization? Select TWO that apply
Which of the following activities are considered as secondary activities of an organization? Select TWO that applyA . Component fabrication B. Training C. Information system development D. Shipping E. Service responseView AnswerAnswer: B,C Explanation: According to Porter's value chain, secondary activities consist of firm infrastructure, human re-source management, technology development...
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 . DOWNTIME B. VA/VE C. OWN-IT D. 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...
This arrangement is known as...?
A procurement manager is discussing with other stakeholders about the scope and the implementation of the upcoming construction project. A stakeholder argues that the construction projects are often risky as the overall scope of the work can't be accurately estimated from the beginning. Furthermore, the project spans over a long...
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 materials B. An employee is hired to work on a project, either exclusively or for an assigned number of hours C. The materials and supplies needed for the company’s day-to-day operations. D....
Which of the following is the disadvantage of embedding standards in a specification?
Which of the following is the disadvantage of embedding standards in a specification?A . Standards do not improving buyer's bargaining power B. Embedding standards into specification requires enormous time and effort C. Standards are too static and discourage innovation D. Standards are too flexible and may cause ambiguity in the...
Is this a correct approach?
Sealines Inc is developing its fleet of cargo ships. The company is planning to build a new ship powered by natural gas. Brian, the procurement manager at Sealines, suggests the project team to develop a through-life specification before engaging with the supplier. Is this a correct approach?A . Yes, decommissioning...
Is Robert's action reasonable?
Robert is a senior buyer at MMC Construction Ltd. His company is doing multiple development projects in the country, which increases procurement workload significantly. Meanwhile, most of the tasks are handled manually, which causes bottlenecks in the workflows. The procurement team is overwhelmed by the workload and complains from other...
Which of the following is a challenge of making a business case for straight re-buys?
Which of the following is a challenge of making a business case for straight re-buys?A . Terms and conditions B. Research of procurement process C. Effective inventory control D. Identifying suitable suppliersView AnswerAnswer: C Explanation: For straight re-buy, the specifications for the products are known. Generally, there will be an...
