OPS 571T Education Specialist |tutorialrank.com

1. OPS 571 Week 1 Practice 100% Correct (AllPossible Question/Answer) For more course tutorialsvisit www.tutorialrank.com The Tuff Wheels was getting ready to start its development project for a new product to be added to their small motorized vehicle line for children. The new product is called the Kiddy Dozer. It will look like a miniature bulldozer, complete with caterpillar tracks and a blade. Tuff Wheels has forecasted the demand and the cost to develop and produce the new Kiddy Dozer. The table below contains the relevant information for thisproject. System integration and validation are an important step in which variant of the generic product developmentprocess?

2. Operation Management571 Part 2 Practice week1 Similarity of projects allows for a streamlined and highly structured development process in which variant of the generic product developmentprocess? Technology-pushproducts

3. Customizedproducts Complexsystems Quick-buildproducts Process-intensiveproducts

4. Quality function deployment(QFD): Is a manufacturing function aimed at lowering cost by reducing the portion of rejectedunits. Fills the house of quality matrix with the designer's aspirations for the product. Starts with studying and listening tocustomers. Is a place where the quality assurance function ishoused. Is another term for valueengineering.

5. Simplify products andprocesses Operation Management571 Part 2 Practice week1 What dimension of competitiveness does time-to-market performance in product design and process selectionaffect?

6. Operation Management571 Part 2 Practice week1 The most basic categories of cash flow for a typical new product do not include: Advocates of financial modeling of product design projects arguethat:

7. Financial analysis focuses on measurable quantitiesonly. Financial analysis brings discipline and control to the product developmentprocess Sufficiently rigorous financial analysis can accurately forecast the product's profitpotential. Financial analysis is as solid as the assumptions that go into themodel. Financial analysis nurtures innovation and creativity.

8. OPS 571-Week 1 practicequestions Match the following product types to the appropriate product developmentdescription. Explanation Descriptions of the product development process for these different types of products are summarized in Exhibit 3.2 in thetext.

9. 2. A process that emphasizes cross-functional integration and concurrent development of a product and its associated processes is knownas . (Choose the correct answer to fill in theblank.) Explanation: Product design engineers and manufacturing process planners work together in the process known as concurrent engineering to ensure that the product is designed in a way that it can be produced by the firm. Any needed changes to the processes can be planned for and put in place when production is scheduled tobegin. 3. Measures of product development success can be organized in what threecategories?

10. Explanation: The categories and specific examples of measurements are provided in Exhibit 3.11 in thetext. 4. Concept development assumes a proven technology in which variant of the generic product developmentprocess? 5. System integration and validation are an important step in which variant of the generic product developmentprocess? 6. A reason that firms must develop more new products than ever is which of thefollowing?

11. Explanation: Because the number of new products has increased while model lives and life cycles have shrunk, firms must mount more development projects than previously, and these projects must use substantially fewer resources perproject. 7. Design for manufacturing and assembly delivers product improvements by emphasizing which of thefollowing? Explanation: The greatest improvements related to DFMA arise from simplification of the product by reducing the number of separateparts.

12. 8. Advocates of financial modeling of product design projects argue that: Explanation: Financial modeling and sensitivity analysis are powerful tools for supporting product development decisions, but these techniques have important limitations. Many argue that rigorous financial analyses are required to bring discipline and control to the product development process. Others argue that financial analysis only focuses on measurable quantities and that it is often extremely difficult to predict these values accurately. 9. Sensitivity analysis of the base-case financial model is a useful tool for which of the followingreasons? 10. Performance measures discussed for development projects does not include

13. Explanation: Seemeasuring product development performance discussion. Week 1Quizzes The first step in developing a house of quality is to develop a listof . (Choose the correct answer to fill in theblank.) MultipleChoice •

14. customer requirements for theproduct Correct • rooms in thehouse • team members • major parts and components of theproduct • majorvendors

15. Explanation The focus of the house of quality is the customer, so developing a list of the customers’ requirements for the product is a logical firststep Show myanswersExplanation Item2 Item 2 0 of 2 points awarded ItemScored The Tuff Wheels was getting ready to start its development project for a new product to be added to their small motorized vehicle line for children. The new product is called the Kiddy Dozer. It will look like a miniature bulldozer, complete with caterpillar tracks and a blade. Tuff Wheels has forecasted the demand and the cost to develop and produce the new Kiddy Dozer. The table below contains the relevant information for thisproject.

16. Tuff Wheels also has provided the project plan shown below. As can be seen in the project plan, the company thinks that the product life will be three years until a new product must becreated. Assume all cash flows occur at the end of eachperiod.

17. a. What is the net present value (discounted at 8%) of this project? Consider all costs and expected revenues. (Enter your answer in thousands of dollars. Perform all calculations using Excel. Do not round any intermediate calculations. Round your answer to the nearest thousand.) $8,336 b. What is the impact on NPV for the Kiddy Dozer if the actual sales are 50,000 per year? 70,000 per year? (Enter your answer in thousands of dollars. Perform all calculations using Excel. Do not round any intermediate calculations. Round your answer to the nearest thousand.) NPV 50,000$6,627 NPV 70,000$10,046

18. c. Based on the original sales level of 60,000, what is the effect on NPV caused by changing the discount rate to 9%, 10%, or 11%? (Enter your answer in thousands of dollars. Perform all calculations using Excel. Do not round any intermediate calculations. Round your answer to the nearestthousand.) Measures of product development success can be organized in what threecategories? MultipleChoice • Time to market, productivity, and quality Correct •

19. Timeliness, quality, andcost • Speed, cost, andeffectiveness • Cost, quality, andspeed • Efficiency, effectiveness, and value Explanation The categories and specific examples of measurements are provided in Exhibit 3.11 in thetext.

20. System integration and validation are an important step in which variant of the generic product developmentprocess? MultipleChoice • Technology-pushproducts • Customizedproducts

21. • Complexsystems Correct • Quick-buildproducts • Process-intensive products Explanation See Exhibit3.2. Which of the following is a characteristic of concurrentengineering?

22. MultipleChoice • Integrated computer-assisteddesign • Using automated guidedvehicles • Separate development teams working at once Correct • Having an excellent forecastingsystem

23. • The design-build-test cycle Explanation Detail design of the components is a highly parallel process, often referred to as concurrent engineering, with many separate development teams working atonce. Quality function deployment(QFD): MultipleChoice • Is a manufacturing function aimed at lowering cost by reducing the portion of rejectedunits.

24. • Fills the house of quality matrix with the designer's aspirations for the product. • Starts with studying and listening to customers. Correct • Is a place where the quality assurance function ishoused. • Is another term for value engineering.

25. Explanation The QFD process starts with studying and listening to customers to determine the characteristics of a superiorproduct. The purpose of value analysis/value engineering (VA/VE) is to: MultipleChoice • Simplify products andprocesses Correct • Explanation

26. The purpose of value analysis/value engineering (VA/VE) is to simplify products andprocesses. Economic analysis of product development projects is useful in which of the followingcircumstances? MultipleChoice • Factorylocation • Distributiondecisions • Go/no-go milestones

27. Correct • Demandestimation • Pricing Explanation Economic analysis is useful in at least two differentcircumstances: 1. Go/no-gomilestones. 2. Operational design and developmentdecisions.

28. The most basic categories of cash flow for a typical new product do not include: MultipleChoice • Explanation The most basic categories of cash flow for a typical new-product- development projectare:

29. What dimension of competitiveness does quality in product design affect? MultipleChoice • Engineering hours perproject •

30. The cost of ongoing service Correct • Responsiveness to customerneeds • Aesthetics ofdesign • None ofthese Explanation SeeMeasuring product development performance discussion..

31. WEEK 1 EXAM RESULTS/ mostanswers In the generic product development process, phase 2 (system-level design) begins with corporate strategy and incorporates market objectives. False Concept development is one of the typical phases of product development. True

32. Most purchasers of electronic products cannot fully operate them and use only a small number of the availablefeatures True Economic analysis of product development projects must evaluate which of thefollowing? MultipleChoice • Planned profitability of theproduct • Expected market share to beattained • Net present value ofprofits

33. • Timing and amount of net cash flow Correct • Demand elasticity of theproduct Which of the following is not an example of technology –pushproduct? MultipleChoice • Gore-tex

34. • Artificialvein • plantseeds Correct • I-phone7 • Go-proCamera

35. Which of the following is not a typical phases of productdevelopment? MultipleChoice • Conceptdevelopment • Planning • System-leveldesign • early marketfeedback

36. Correct • Production/ramp-up Consumer electronics is an example of a product developed in which variant of the generic product developmentprocess? MultipleChoice • Technology-pushproducts •

37. Customizedproducts • Platform products • Quick-build products Incorrect • Process-intensiveproducts

38. Because ecodesigned products are innovative and have better environmental performance, they can be of a slightly lesser quality than the market standard. False Performance measures discussed for development projects does not include MultipleChoice •

39. Frequency of new productintroductions • Yield • Percentage sales coming from very old products Correct • Cost of materials andtooling • conformance - reliability inuse

40. Specialized design firms tend to have highly developed processes that support the needs of particularindustries. True Quality function deployment involves listening to customers to determine the characteristics of a superiorproduct. True One of the major benefits of DFMA is that products are designed that customers willwant. False A key decision point in the generic development process during "Phase 1: Concept Development" is projectapproval. False

41. Sensitivity analysis of the base-case financial model is a useful tool for which of the followingreasons? MultipleChoice • To determine how long the development process can profitablylast • To understand how many technical people are needed to make the project a success • To help understand the basic trade-offs of resources committed and cash received

42. Correct • To identify the necessary product launchdate • To set marketing and salesbudgets Incorporation of environmental considerations in the design and development of products or services is calledecodesign. True A key tool of a quality function deployment team is the house of quality matrix. True

43. A key decision point in the generic development process during "Phase 4: Testing and Refinement" is conceptapproval. False DFMA stands for design for manufacturing and assembly. True The generic development process outlined in the textbook is followed by many, if not most, of the firms in the Fortune500. False Similarity of projects allows for a streamlined and highly structured development process in which variant of the generic product developmentprocess? MultipleChoice

44. • Technology-pushproducts • Customizedproducts Correct • Complexsystems • Quick-buildproducts •

45. Process-intensiveproducts A competency is not core if it is easy for competitors toimitate. True What dimension of competitiveness does quality in product design affect? MultipleChoice •

46. Engineering hours perproject • The cost of ongoingservice • Responsiveness to customerneeds • Aesthetics ofdesign Incorrect • None ofthese

47. The purpose of value analysis/value engineering (VA/VE) isto: MultipleChoice A reason that firms must develop more new products than ever is which of thefollowing? MultipleChoice • patents and tradenames

48. Core competencies are those things that everyone in the firm must be able to dowell. False OPS 571-Week 1 practicequestions Match the following product types to the appropriate product developmentdescription. Explanation

49. Descriptions of the product development process for these different types of products are summarized in Exhibit 3.2 in thetext. 2. A process that emphasizes cross-functional integration and concurrent development of a product and its associated processes is knownas . (Choose the correct answer to fill in theblank.) Explanation: Product design engineers and manufacturing process planners work together in the process known as concurrent engineering to ensure that the product is designed in a way that it can be produced by the firm. Any needed changes to the processes can be planned for and put in place when production is scheduled tobegin. 3. Measures of product development success can be organized in what threecategories?

50. Explanation: The categories and specific examples of measurements are provided in Exhibit 3.11 in thetext. 4. Concept development assumes a proven technology in which variant of the generic product developmentprocess? 5. System integration and validation are an important step in which variant of the generic product developmentprocess?