Your Next Project Consists of 5 Consecutive 10-Day Activities,each Estimated

question 76

Multiple Choice

Your next project consists of 5 consecutive 10-day activities,each estimated by a different worker in your organization.You have all secretly added your own safety margin of 4 days into your estimates and you watch in horror as the project manager whips out his copy of Critical Chain and slams it on the table midway through their first project meeting."I'm taking your buffers and making them my own," he bellows.You recoil from this news and do some quick mental arithmetic.Now that you know the project manager is a Goldratt disciple,you know that the new project buffer will be:

• A)25 days
• B)20 days
• C)15 days
• D)10 days

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Definitions:

Inventory Control

The management of inventory to ensure the right quantity of supplies for operation without excess, thus minimizing costs.

International Financial Reporting Standards

Global accounting principles that provide guidance for companies on how to report financial events and conditions.

Prohibited

Refers to actions or activities that are forbidden by law, regulation, or policy.

LIFO

"Last In, First Out," an inventory valuation method where the most recently produced or acquired items are the first to be expensed.