Quiz 4
Metrics and Normalization Mastery Quiz
Test your knowledge on the vital concepts of metrics, normalization methods, and performance indicators in organizations. This quiz is designed for those looking to enhance their understanding and skills in utilizing metrics effectively.
- 16 engaging questions
- Multiple-choice format
- Assess your understanding of metrics and performance analysis
Metrics are important because they can be used as the building blocks for
Analyses
Recommendations
Improvement activities
All of the above
Which statement is FALSE:
To overcome the problem of variation we take the average performance over time
the longer the period over which we measure, the more the effects of variation will be
The longer the period over which we collect data, the more likely that a process change occurs
If the process has changed,
We usually use a combined figure
We usually use the current average
We usually use the previous average
The data change, which occured due to the significant events (fire, flood), is usually omitted (not taken into consideration).
True
False
Normalization is a tool which allows to compare or combine data that we could not otherwise compare or combine.
True
False
Reporting costs per unit produced is an example of the following normalization method:
Categorization
Selection
Weighting factors
Per unit
Which normalization method is most useful, when there is a database of similar projects:
Selection
Weighting factors
Categorization
Per unit
This normalization method entails assigning each "package" of work a weighting factor based on the amount of effort required to complete the task:
Selection
Scoring
Categorization
Weighting factors
In this normalization method, performances of participants are compared to a mathematical model developed from the data:
Categorization
Per unit
Modeling
Scoring
In this normalization method, the scores for each management category are added to give a total score for the organization as a whole:
Scoring
categorization
Weighting factors
Modeling
A mission statement describes where the organization wants to be at some time in the future.
True
false
Key Performance Indicators (KPI) are the key metrics that indicate how well an organization is performing against its Critical Success Factors (CSF).
True
False
Which statement is TRUE:
a) the Balanced Scorecard is a group of metrics, which together monitor all key aspects of an organizational performance
B) the Balanced Scorecard was developed in 1994 by Kaplan and Norton
C) both a) and b)
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