Quiz 7

A detailed infographic showing a risk management process with agile principles and Six Sigma imagery, bright colors, and modern design.

Risk Management Mastery Quiz

Test your knowledge on essential concepts in risk management, agile practices, and Six Sigma methodologies. This quiz covers a wide range of topics including the calculation of Risk Priority Number (RPN), agile principles, and Lean techniques.

Challenge yourself and learn:

  • Key aspects of risk management
  • Agile practices and principles
  • Six Sigma and Lean methodologies
36 Questions9 MinutesCreated by AssessingEagle521
Which are the three aspects used in the calculation of RPN?
Likelihood, prob. Of occurrence
Detectability
Severity, effect, magnitude
The following statements concern Risk Management: Contingency plans and controls are the same
True
False
The following statements concern Risk Management: Controls are implemented to increase RPNs
True
False
The following statements concern Risk Management: FMEA is a risk management tool that should be used proactively
True
False
The following statements concern Risk Management: There is no ISO standard for how to manage risks
True
False
The following statements concern Risk Management: Risks are perceived equally across different cultures
True
False
The following statements concern Risk Management: Availability bias can affect the way people perceive risks
True
False
The following statements concern Risk Management: It is s possible to assign a probability to a risk
True
False
The following statements concern Risk Management: Black-swan Events are easily predictable
True
False
The following statements concern Risk Management:Black-swan events are rationalized in hindsight
True
False
Action A: To sign house insurance with protection against losses by fire
Strat1: Do nothing
Strat2: Eliminat
Strat3: Transfer/share
Strat4: Reduce or mitigat
Action B: To blow out candles before leaving the flat
Strat1: Do nothing
Strat2: Eliminat
Strat3: Transfer/share
Strat4: Reduce or mitigat
Action C: To install fire alarms in the building
Strat1: Do nothing
Strat2: Eliminat
Strat3: Transfer/share
Strat4: Reduce or mitigat
Action D: To buy a fire extinguisher and fire blanket
Strat1: Do nothing
Strat2: Eliminat
Strat3: Transfer/share
Strat4: Reduce or mitigat
Action E: To save valuable things elsewhere (e.g., cloud, Bank)
Strat1: Do nothing
Strat2: Eliminat
Strat3: Transfer/share
Strat4: Reduce or mitigat
Risk management involves several steps. Order the steps below in chronological order, e.g., ACEBDF
ABCDEF
BCDFEA
CEDBAF
ABEFDC
CABDEF
FABDEC
Below you will find four pairs of values. Chose for each pair, the value advocated in the Agile Manifesto.
1:Comprehensive documentation
1:Working software
2:Contract negotiation
2:Customer collaboration
3:Individuals and interactions
3:Processes and tools
4: Following a plan
4:Responding to change
The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To deliver few and large deliveries
True
False
The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To conduct several tasks simultaneously
True
False
The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To have teams organizing themselves
True
False
The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To test while developing
True
False
The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To visualize progress
True
False
The following statements concern agile practices.: SCRUM is common within software development
True
False
The following statements concern agile practices: It is possible to get SCRUM certified
True
False
The following statements concern agile practices: Sprints usually take from 1 to 5 workdays
True
False
The following statements concern agile practices: The product owner is part of the development team
True
False
The following statements concern agile practices: Daily SCRUMS are mainly for solving problems
True
False
The following statements refer to Six Sigma. Which statement is False?
Six Sigma has been very popular at GE and Motorola
Master Black Belt is the highest possible ASQ certification
The main focus of Six Sigma projects is to reduce waste
The following statements refer to Six Sigma. Which statement is False?
Six-Sigma process performance corresponds to a maximum of 3.4 dpmo
Six Sigma projects usually follow the DMAIC cycle
Three-sigma process performance gives fewer defects than six-sigma process performance
The following statements refer to Lean. Which statement is False?
Lean has its roots in Toyota Production System
Lean focus mainly on resource efficiency
Fire brigades have high flow efficiency
The following statements refer to Lean. Which statement is False?
Low-cost airlines rank high on flow efficiency
It is easier to achieve high flow efficiency when products are similar, and demand varies little C
Queues and waiting is a sign of low flow efficiency
Link each of the Lean tools A-C to one of the purposes 1-4, e.g. A1, B2, C3
 

A: Spaghetti diagrams

B: 5s

C: Value stream maps

 

1: to keep and maintain things in order at the workplace

2: to study motion at the workplace

3: to identify the main causes affecting an outcome

4: to study processing time and production lead time

A2
A3
A4
A1
B1
B2
B3
B4
C2
C1
C3
C4
The acronym DOWN-TIME is usually used for the eight sources of waste within Lean. Indicate four of those eight sources of waste.
Defects
Overproduction
Wait
Unuse Talent
Transportation
Inventory
Motion
Motion
-
Link each of the Improvement Programs to one of the foci 1-3,
e.g., TQM1 + SS2 + Lean3
 
TQM Six Sigma Lean
 
1: ↓waste, ↓ lead time, ↑ efficiency
 
2: ↓ defects, ↓ variation, save money
 
3: ↑ customer satisfaction, ↑ customer loyalty
TQM - 3
TQM - 2
SS - 1
SS-2
Lean - 3
Lean - 1
Link each of the Improvement Programs to one of the foci 1-3,
e.g., TQM1 + SS2 + Lean3 TQM Six Sigma Lean
 
 
1: DMAIC2: Analytical tools, e.g., VSM3: PDCA
TQM - 3
TQM - 2
SS - 1
SS-2
Lean - 3
Lean - 2
Link each of the Improvement Programs to one of the foci 1-3,
e.g., TQM1 + SS2 + Lean3 TQM Six Sigma Lean
 
 
1: It may be too philosophical, It lacks a clear roadmap, It may not be profitable 2: It relies heavily on statistics, It does not involve everybody, It may not increase customer satisfaction3: It may reduce flexibility, It may cause congestion in the supply chain, It may reduce employee satisfaction
TQM - 1
TQM - 3
SS - 1
SS-2
Lean - 3
Lean - 2
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