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 that has mapped and are desiring to pursue
• E) identify non value added activities

Understand and apply the concept of budgeting in cost management; compute the difference between actual and budgeted performance.

Calculate and interpret controllable variances in overhead costs.

Calculate and interpret fixed and variable overhead variances, including spending and efficiency.

Understand the significance of operating capacity and its impact on cost variances.

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Definitions:

Square Root

A value that, when multiplied by itself, gives the original number.

Directly Proportional

The relationship between two variables where if one variable increases, the other variable increases by the same factor.

Total Revenue

The total income generated from the sale of goods or services, calculated as the unit price multiplied by the quantity sold.

Constant of Proportionality

The constant of proportionality is the factor that relates two variables that are directly proportional to one another.