The Very Best Way to Begin an Effort to Map

question 7

Multiple Choice

The very best way to begin an effort to map a process is to do which of these?

• A) Interview the process owner
• B) Interview the manager of the department
• C) Walk the actual process from beginning to end
• D) Take pictures of the factory floor at each shift

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Definitions:

Default Rate

The proportion of loans or debt instruments that are not repaid as agreed, leading to default, within a specific period.

Monthly Interest Rate

The Monthly Interest Rate is the interest rate charged or earned per month on a loan, savings account, or investment, expressed as a percentage of the principal.

NPV

Net Present Value; a financial metric that evaluates the profitability of an investment or project by calculating the difference between the present value of cash inflows and outflows over a period of time.

Chance Of Default

The probability that a borrower will be unable to meet their obligation to repay a loan or meet contractual obligations.