OM Quiz _1 Guide_1

OM Quiz _1 Guide_1 - BENTLEY COLLEGE Department of...

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BENTLEY COLLEGE Department of Management Operations Management Module Professor Will O’Brien GB-301, Fall 2007 Office: AAC 333 Sections # 014, EB2, EB3 Tel: 978-897-4562 [email protected] Quiz #1 Guide ════════════════════════════════════════ Basic Concepts (you need to understand what each of these terms means): 1. Operations Management 2. Transformation Process 3. Global Economy 4. Value Chain 5. Business Strategy 6. Competitive Priorities 7. Operating Strategy 8. Process Measures 9. Strategic Planning 10. Sustainability 11. New Product Development Process 12. Design for Manufacturability (DFM) 13. Design for Supportability (DFS) 14. Voice of the Customer 15. Computer Aided Design & Manufacturing 16. Software as a Service (SaaS) 17. Portfolio Project Management (PPM) 18. IT Governance 19. Project Management 20. Agile Development Methodology Investing in Technology: 1. In terms of US IT spending, Forrester predicts that by 2010, the investment level will reach what amount? 2. Outline the major issues with respect to investing in IT. 3. What are the major factors/trends that are driving improvements in terms of IT investments?
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Software as a Service (SaaS): 1. Is SaaS a market? Yes 2. Is SaaS a method of delivering software? Yes 3. Describe the benefits of SaaS to a user of software. The benefits of using SaaS are that it will save you money because you avoid the cost of implementing the software, and you can pay as you go so you have the ability to cancel anytime. It will also save you time because the deployment time for SaaS is much shorter than traditional software. You also gain the advantage of being able to use the new features as they become available instead of having to wait until the next edition is released. 4. What are the benefits of SaaS to a vendor providing software? 5. What does On-Premise mean relative to software? 6. Compare On-Demand software vs. On-Premise. New Product & Service Development: 1. What are the financial benefits of a company being first in the market with a new product? Gain market share, product is more profitable over its life cycle, set their own prices, set industry standards 2. How is Quality Function Deployment used? It reduces the cost of making the product by significantly reducing the design times by using the voice of the customer to design their products better. 3. What is meant by “best practice”? 4. What is the Stage Gate Process?
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