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NEW QUESTION: 1
Which factor encompasses the standards and cultural behavior that are important to the business?
A. Strategy
B. Mission
C. vision
D. Values
Answer: D
Explanation:
In an effort to fully understand the business, it is imperative to be able to articulate the factors that drive the business strategy. The business priorities establish the direction for the business and determine the business outcomes to be achieved from the strategy. The business requirements, business capabilities, and business solutions enable the business to move from its current to its target state business model.
In addition to defining the business priorities, requirements, capabilities, solutions, and outcomes it is important to understand the additional factors that drive the target state of the business.
Values: Values encompass the standards and behavior that are important to the business.
Values are important to understand from a business architecture perspective because the organization is a personification of its values. The business values influence how individuals within an organization perceive the purpose of the business. Business values vary across industry verticals and public and private sector organizations.
Mission: The mission defines the purpose of the organization. Similar to the values, the mission will vary across industry verticals and public and private sector organizations.
Vision: A vision is an overall picture of the target state of the business. Depending on the organization, there can be an overarching vision statement or each organization within the business can have a vision statement. A vision statement is not detailed in nature. The vision statement sets the framework for strategic planning. An example of a vision statement is a manufacturing company desiring to be the top steel provider in the world in the next five years. A vision statement is not detailed.
Strategy: A strategy is a long-term plan that enables the business to work toward achieving its vision and is aligned with the values and mission of the organization. A strategy is based on the business goals and objectives that support the business priorities.
A strategy is a map of how the business will move from point A to point B.
The strategy considers the business operations, value proposition, customers, and finance. The goals and objectives enable the business to measure its progress toward executing on the strategy.
Goals: Business goals determine what the business wants to accomplish as part of its strategy. Using the manufacturing company that was mentioned earlier, one goal could be to acquire smaller steel manufacturers to build upon existing capabilities. Another goal may be to develop strategic partnerships with key suppliers. Metrics are associated with goals.
There will be specific time lines for each of the previous examples.
Objectives: Business objectives are more specific and often have shorter time lines than goals. Business objectives are components of business goals. A business objective for the steel manufacturing company may be reducing operational costs by 5 percent over the next six months. Another objective may be to develop three new strategic partnerships by the end of the next fiscal year.
The SMART framework is used to define effective objectives:
S: Specific
M: Measurable
A: Achievable
R: Realistic
T: Time bound
NEW QUESTION: 2
The user requirements call for a model stock portfolio list to be created. The user will be able to enter selection criteria for the equities to be included in the model stock portfolio list. There is another requirement for the user to be able to save the selection criteria. How many elementary processes would be counted?
A. 0
B. Not counted
C. 1
D. 2
Answer: D
NEW QUESTION: 3
Which of the following professional organizations sets standards for quality and environmental audits?
A. The International Standards Organization.
B. The International Organization of Supreme Audit Institutions.
C. The Board of Environmental, Health, and Safety Auditor Certifications.
D. The Committee of Sponsoring Organizations of the Treadway Commission.
Answer: A
NEW QUESTION: 4
Della works as a project manager for BlueWell Inc. She has asked her assistant Beth to provide activity duration estimate for an activity. Beth provides Della the following estimate chart:
What will be the activity duration according to the PERT three-point analysis?
A. 0
B. 1
C. 2
D. 3
Answer: B
Explanation:
Explanation/Reference:
Explanation:
A three-point estimate records the optimistic, most likely, and the pessimistic duration and then records an average for the predicted duration. Three-point estimate is a way to enhance the accuracy of activity duration estimates. This concept is originated with the Program Evaluation and Review Technique (PERT).
PERT charts the following three estimates: Most likely (TM): The duration of activity based on realistic factors such as resources assigned, interruptions, etc. Optimistic (TO): The activity duration based on the best-case scenario Pessimistic (TP): The activity duration based on the worst-case scenario The expected (TE) activity duration is a weighted average of these three estimates: TE = (TO + 4TM + TP) / 6 Duration estimates based on the above equations (sometimes simple average of the three estimates is also used) provide more accuracy.
Here it is,
TE = ( 24 + 28*4 + 36) / 6
= 272/6
= 29 (approx)
Incorrect Answers:
A, B, D: These are not the valid answers for this question.
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