FMEA Is Used to ________

question 30

Multiple Choice

FMEA is used to ________.

• A) check the efficacy of a business case
• B) identify ways a process or product can fail to meet critical customer requirements
• C) determine the accuracy and precision of your measurements
• D) identify inputs (Xs) and outputs (Ys) from a project you have mapped and are desiring to pursue
• E) identify non value added activities

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Definitions:

Value Chain

A model that describes the full range of activities needed to create a product or service, from inception to delivery to the end user.

Leading Indicators

Economic or financial variables that predict future trends and changes in the economy or markets before they occur.

Lagging Indicators

Metrics that follow an event, used to confirm patterns or trends, typically economic, after they have begun to manifest.

Strategic Learning

The process of using performance metrics to verify strategic objective expectations and, if necessary, adjusting them.