SMART is an acronym for .............

Specific, Measurable, Agreed (or Achievable) Realistic and Timed

What does the certification PMP stand for?

Project Management Professional

What is Stakeholder Analysis?

A project management tool to collect info about people impacted by a plan

A profit and loss account is.........

a financial report that summarizes a business's revenues and expenses

What is Process Management?

The use and application of a number of processes to achieve objectives

A Thought Shower is................

a discussion in which new ideas are made and discussed

What is a Vision Statement? A Statement ..................

Describing the clear and long term desired change from a business's work

A Project Management Triangle is..............

When each side of the triangle is a constraint

Waterfall Method is where......................

Each phase of the project cascades into the next.

Shareholders are people who.............

own one or more shares of a company, effectively becoming partial owners

Scope management is the process ............

where outputs, outcomes and benefits are identified & controlled

A supplier is................

A person or institution that is the source of goods or services

Schedule Management is....................

Developing, maintaining and communicating schedules for resources and time.

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Business Admin Glossary Quiz 7

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Glossary of Terms for the NCFE L3 Business Administrator.

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Questions 22

Answers

1
SMART is an acronym for .............
Specific, Measurable, Agreed (or Achievable) Reliable and Timed
Special, Measurable, Agreed (or Achievable) Realistic and Timed
Specific, Meaningful, Agreed (or Achievable) Realistic and Timed
Specific, Measurable, Agreed (or Achievable) Realistic and Timed
2
A work management tool for a key period that organises a team's work into manageable sections is...................
WBS (Work Benefit Structure)
WBS (Work Bonds Structure)
WBS (Work Betterment Structure)
WBS (Work Breakdown Structure)
3
What does the certification PMP stand for?
Project Management Person
Project Management Personnel
Project Management Profession
Project Management Professional
4
What is Stakeholder Analysis?
Where a formal plan is executed and delivered
A project management tool to collect info about people impacted by a plan
Where the business's resources are developed
Is a project management tool is used to collect data
5
What year were the Working Time Regulations published?
1991
1999
1998
1995
6
A profit and loss account is.........
an account that represents the dealings of a person or entity
a temporary account that is closed at the end of each accounting period
a financial report that summarizes a business's revenues and expenses
an account that is carried forward from one accounting period to another
7
What does the acronym SME mean?
Small to Medium Enterprise
Small to Medium Endeavors
Small to Medium Exercise
Small to Medium Economics
8
What is a logical sequence of activities to accomplish a project's goals or objectives?
Phased Project Managment
Positive Action
Project Life Cycle
Process Management
9
What is Process Management?
The justification for undertaking a project or programme
The use and application of a number of processes to achieve objectives
10
A Thought Shower is................
a discussion in which new ideas are made and discussed
a discussion in which a wide range of potential solutions are generated
a discussion in which a group of people work together to write down ideas
a discussion in which encourages imagination and innovative thinking
11
What is a Vision Statement? A Statement ..................
Describing the clear and long term desired change from a business' ideas
Describing the clear and long term desired change from a business' mistakes
Describing the clear and long term desired change from a business' trading
Describing the clear and long term desired change from a business's work
12
A Project Management Triangle is..............
When each side of the triangle is a concession
When each side of the triangle is a condition
When each side of the triangle is a constant
When each side of the triangle is a constraint
13
What is A Method for Effective Project Management and is Process Driven?
Prince4 Practitioner
Prince3 Practitioner
Prince5 Practitioner
Prince2 Practitioner
14
Waterfall Method is where......................
Each phase of the project ascends into the next
Each phase of the project cascades into the next.
15
Stakeholders are a person that owns shares in a company
True
False
16
What is a fund of money deposited with another financial organisation for the sole purpose of financial speculation?
Current Account
Trading Account
Spending Account
Non-Profit Account
17
Shareholders are people who.............
are individuals legally responsible for running and managing a company
are responsible for the company's financial health and reporting
own one or more shares of a company, effectively becoming partial owners
are ultimately responsible for taking managerial decisions
18
Scope management is the process ............
where a project management tool is used to collect information
where the business's resources are developed
where outputs, outcomes and benefits are identified & controlled
where a formal plan is executed
19
A supplier is................
A person or institution that receives goods
A person or institution that buys goods to be resold
A person or institution that is the source of goods or services
A person or institution that sells goods on behalf of another company
20
Schedule Management is....................
Formal process that defines how a project is executed & controlled
The application of a number of processes
Developing, maintaining and communicating schedules for resources and time.
A process whereby outputs, outcomes & benefits are identified & controlled
21
What is the justification for undertaking a project or programme & provides a rationale for the preferred solution.
Project Business Condition
Project Business Competition
Project Business Case
Project Business Cycle
22
What is WBS?
Work Breakdown System
Work Breakdown Structure
Work Breakdown Source
Work Breakdown Set-Up

Business Admin Glossary Quiz 7 Flashcards | StudBud