Quiz 5

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Benchmarking Excellence Quiz

Test your knowledge on benchmarking metrics and their application in project management with this engaging quiz! Whether you're a novice or a seasoned professional, you'll find valuable insights as you explore the various aspects of effectiveness, efficiency, and performance measurement.

16 thought-provoking questions
Assess your understanding of key concepts
Enhance your skills in benchmarking studies

16 Questions4 MinutesCreated by MeasuringImpact425

Which one is NOT a criterion we need to compare our metrics against:

Completeness

Review against the Project Charter

Availability and consistency of data

Review against the project proposal

Which one is FALSE:

Effectiveness and efficiency measures are often in conflict

It is often effectiveness that gets measured

'hiring the right person for a job' is an example of the effectiveness measure

Efficiency can be described as 'doing things right'

Which one is FALSE:

Once the data have been collected, one of the first tasks is to validate it to ensure that it is correct, complete and in the correct units

It is often possible to boost short-term performance by sacrificing long-term performance; hence, it is preferable to have a mix of short-term and long-term metrics in thebenchmarking study

downstream metrics are often referred to as lead metrics

An external metric is a metric by which people outside an organization measure its performance

Which one is NOT a method for identifying the optimal number of metrics in the study:

Reviewing the scope of the study

Benchmarking at high levels

Following the Pareto rule

Asking your supervisor

Which one is an issue to consider when sharing cost data:

Legal restrictions (laws such as the Treaty of Rome and Anti-Trust in the USA)

exchange rate volatility and inflation

Differences in accounting practices

All of the above

When developing operational definitions, benchmarking participants should

Be as specific and focused as possible and provide a clear definition

Itemize what is included and excluded

Provide examples

All of the above

What is true about upstream metrics:

a) they represent the cause

B) they are often called lead metrics

Both a) and b)

A smoke screen usually masks a fear that the objector may in some way be disadvantaged by the benchmarking study

True

False

The first step in contacting a potential participant is

To identify the right person to contact

To send an invitation pack

To agree to attend an inaugural meeting

None of the above

Which one is NOT the focus of the first meeting:

Building relationships

Finalizing metrics

Reviewing common ground

Mapping the general course of the projec

Between-meeting activities include

Personal contact with participants

Prompt issuing of minutes

Regular progress and status reports

All of the above

Quiz 5

Benchmarking Excellence Quiz

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