Define Pareto Principle Or 80/20 Principle?

Define Pareto Principle Or 80/20 Principle?
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It is one way of tackling problem in management. It says 20% of the problems lead to other 80% of the problems. According to this principle, we should focus on 20% of the problem. In any software project first 10% and last 10% from the vital part of the project.
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What Is Pareto Principle?

Description : What Is Pareto Principle?

Last Answer : Pareto Principle is also known as 80/20 principle. It is a management tool to track problem tracking effectively. This principle says that 20% of the problems lead to 80% of other problems. Hence, in order ... the vital problems. In a project the vital problems are the first 10% and the last 10% .

What do you understand of Pareto (80/20) principle/analysis?

Description : What do you understand of Pareto (80/20) principle/analysis?

Last Answer : This is a statistical analysis method that helps decide priorities between several actions to be taken. The basis is that there are about 20% action which when executed gets you 80% of the results. In QA this is used to identify the 20% of causes that create 80% of the problems.

What is a visual representation of a project’s planned activities against a calendar called? a. A Gantt chart. b. A critical path network. c. A product flow diagram. d. A Pareto chart.

Description : What is a visual representation of a project’s planned activities against a calendar called? a. A Gantt chart. b. A critical path network. c. A product flow diagram. d. A Pareto chart.

Last Answer : a. A Gantt chart.

While assessing your project processes, you have identified some uncontrolled process variations. Which of the following would be the appropriate chart you may use for this purpose? Select one: a. Pareto diagram b. PERT chart c. Control chart d. HR personnel chart e. Critical path

Description : While assessing your project processes, you have identified some  uncontrolled process variations. Which of the following would be the  appropriate chart you may use for this purpose? Select one: a. Pareto diagram b. PERT chart c. Control chart d. HR personnel chart e. Critical path

Last Answer : c. Control chart

What is a visual representation of a project’s planned activities against a calendar called? a. A Gantt chart. b. A critical path network. c. A product flow diagram. d. A Pareto chart.

Description : What is a visual representation of a project’s planned activities against a calendar called?  a. A Gantt chart.  b. A critical path network.  c. A product flow diagram.  d. A Pareto chart.

Last Answer : a. A Gantt chart.

What Is 80/20 Principle?

Description : What Is 80/20 Principle?

Last Answer :  80/20 principle is also called as Pareto's principle.  It believes that 20% os tasks consume 80% energy for e.g. - 20% tasks in development consume 80% time, 20% of project personnel perform 80% task etc.

Resorce requirement in project becomes constant while the project is in its _____ progress stage. (A) 40 to 55% (B) 55 to 70% (C) 70 to 80% (D) 80 to 95%

Description : Resorce requirement in project becomes constant while the project is in its _____ progress stage. (A) 40 to 55% (B) 55 to 70% (C) 70 to 80% (D) 80 to 95%

Last Answer : (D) 80 to 95%

A planning phase for an engineering component generated 80 engineering drawings. The QA team randomly selected 8 drawings for inspection. This exercise can BEST be described as example of: A. Inspection B. Statistical Sampling C. Flowcharting D. Control Charting

Description : A planning phase for an engineering component generated 80 engineering drawings. The QA team randomly selected 8 drawings for inspection. This exercise can BEST be described as example of: A. Inspection B. Statistical Sampling C. Flowcharting D. Control Charting

Last Answer : B. Statistical Sampling

Resorce requirement in project becomes constant while the project is in its progress stage. (A) 40 to 55% (B) 55 to 70% (C) 70 to 80% (D) 80 to 95%

Description : Resorce requirement in project becomes constant while the  project is in its progress stage. (A) 40 to 55% (B) 55 to 70% (C) 70 to 80% (D) 80 to 95%

Last Answer : (D) 80 to 95%

A project with total budget cost of 30 crores is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given: Budgeted cost of work performed (EV) = 17 crores Actual Cost of work performed (AC = 19 crores Budgeted cost of work scheduled (PV) = 21 croresWhat is the cost performance index? A.0.895 B.0.81 C.0.90 D.1.12

Description :  A project with total budget cost of 30 crores is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given:  Budgeted cost of work performed (EV) = 17 ... crores What is the cost performance index?  A.0.895  B.0.81  C.0.90  D.1.12

Last Answer : A.0.895

.A planning phase for an engineering component generated 80 engineering drawings. The QA team randomly selected 8 drawings for inspection. This exercise can BEST be described as example of:A. Inspection B. Statistical Sampling C. Flowcharting D. Control Charting

Description : .A planning phase for an engineering component generated 80 engineering drawings. The QA  team randomly selected 8 drawings for inspection. This exercise can BEST be described as  example of: A. Inspection B. Statistical Sampling C. Flowcharting D. Control Charting

Last Answer : B. Statistical Sampling

Diversity management works on the principle of ____

Description : Diversity management works on the principle of ____

Last Answer : Ans. Acceptance

Boehm suggests an approach that addresses project objectives, milestones and schedules, responsibilities, management and technical approaches and required resources, This principle is called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.

Description : Boehm suggests an approach that addresses project objectives,  milestones and schedules, responsibilities, management and  technical approaches and required resources, This principle is  called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.

Last Answer : c. W5HH principle

Which of the following statements relating to working capital financing is not correct? A. An aggressive policy uses long-term debt to finance fluctuating current assetsB. Long-term debt is less risky that short-term debt C. A conservative policy uses long-term debt to finance fixed assets D. Short-term debt is cheaper than long-term debt E. The matching principle indicates that fluctuating current assets should be financed by short-term debt

Description : Which of the following statements relating to working capital financing is not correct? A. An aggressive policy uses long-term debt to finance fluctuating current assets B. Long-term debt ... . The matching principle indicates that fluctuating current assets should be  financed by short-term debt

Last Answer : A. An aggressive policy uses long-term debt to finance fluctuating current assets

Which of the following is a basic principle of finance as it relates to the management of working capital? A. Profitability varies inversely with risk. B. Liquidity moves together with risk. C. Profitability moves together with risk. D. Profitability moves together with liquidity.

Description : Which of the following is a basic principle of finance as it relates to the management of  working capital? A. Profitability varies inversely with risk. B. Liquidity moves together with risk. C. Profitability moves together with risk. D. Profitability moves together with liquidity.

Last Answer : C. Profitability moves together with risk.

Which of the following is not followed in capital budgeting? A. Cash flows principle B. Interest exclusion principle C. Accrual principle D. Post tax principle

Description : Which of the following is not followed in capital budgeting? A. Cash flows principle B. Interest exclusion principle C. Accrual principle D. Post tax principle

Last Answer : C. Accrual principle

The equilibrium is unstable and indeterminate under A.Edgeworth modelB.Cournot ModelC.Sweezy ModelD.Pareto Model

Description : The equilibrium is unstable and indeterminate under A.Edgeworth model B.Cournot Model C.Sweezy Model D.Pareto Model

Last Answer : A.Edgeworth model

What are all the types of pareto analysis

Description : What are all the types of pareto analysis

Last Answer : There are two types of pareto analysis (i)Pareto analysis based on Phenomenon (ii)Pareto analysis based on causes

………….. is a situation in which it is not possible to make someone better off without making someone worse off (a) Social efficiency ; (b) Production efficiency ; (c) Distribution efficiency ; (d) Pareto efficiency

Description : ………….. is a situation in which it is not possible to make someone better off without making someone worse off (a) Social efficiency ; (b) Production efficiency ; (c) Distribution efficiency ; (d) Pareto efficiency

Last Answer :  (d) Pareto efficiency

Which one of the following statements is incorrect ? (A) Pareto analysis is a statistical method used for analyzing causes, and is one of the primary tools for quality management. (B) Reliability of a software specifies the probability of failure-free operation of that software for a given time duration. (C) The reliability of a system can also be specified as the Mean Time To Failure (MTTF). (D) In white-box testing, the test cases are decided from the specifications or the requirements.

Description : Which one of the following statements is incorrect ? (A) Pareto analysis is a statistical method used for analyzing causes, and is one of the primary tools for quality management. (B) Reliability of ... (D) In white-box testing, the test cases are decided from the specifications or the requirements.

Last Answer : (D) In white-box testing, the test cases are decided from the specifications or the requirements.

The first electronic general purpose digital computer built by Mauchly and Eckert called ENIA did not work on the stored program principle. How many numbers could it store in its internal memory? a. 100 b. 20 c. 40 d. 80

Description : The first electronic general purpose digital computer built by Mauchly and Eckert called ENIA did not work on the stored program principle. How many numbers could it store in its internal memory? a. 100 b. 20 c. 40 d. 80

Last Answer : 20

The first electronic general purpose digital computer built by Mauchly and Eckert called ENIA did not work on the stored program principle. How many numbers could it store in its internal memory? a. 100 b. 20 c. 40 d. 80

Description : The first electronic general purpose digital computer built by Mauchly and Eckert called ENIA did not work on the stored program principle. How many numbers could it store in its internal memory? a. 100 b. 20 c. 40 d. 80

Last Answer : b. 20

A Responsibility Assignment Matrix (RAM) can be used to: a. define the terms of reference of the project manager. b. define the limits of the project sponsor’s responsibilities. c. allocate risk management response activities to project personnel. d. allocate work packages to those responsible for project work.

Description : A Responsibility Assignment Matrix (RAM) can be used to: a. define the terms of reference of the project manager. b. define the limits of the project sponsor's responsibilities. c ... response activities to project personnel. d. allocate work packages to those responsible for project work.

Last Answer : d. allocate work packages to those responsible for project work.

Which one of the following statements best defines the purpose of a Product Breakdown Structure (PBS)? a. To define the hierarchy of deliverables that are required to be produced on the project. b. To define how the products are produced by identifying derivations and dependencies. c. To establish the extent of work required prior to project commissioning and the handover. d. To identify the health and safety strategies and procedures to be used on the project

Description : Which one of the following statements best defines the purpose of a Product Breakdown Structure (PBS)? a. To define the hierarchy of deliverables that are required to be produced on the project. ... . d. To identify the health and safety strategies and procedures to be used on the project

Last Answer : a. To define the hierarchy of deliverables that are required to be produced on the project.

Which of the following does NOT generate changes to the Project documents: A. Define Activities B. Sequence Activities C. Estimate Activity Resources D. Estimate Activity Durations

Description : Which of the following does NOT generate changes to the Project documents: A. Define Activities B. Sequence Activities C. Estimate Activity Resources D. Estimate Activity Durations

Last Answer : A. Define Activities

Complete the following statement. As a project manager, Darrell is excited that he is assigned to be in charge of the most important project this year. After being chartered for the project, he analyses the information in the project charter and the stakeholder register to: Select one: a. decide how to draft a scope statement. b. start to define and develop the stakeholder needs and requirements c. prepare for the template to monitor project progress. d. estimate the entire project budget.

Description : Complete the following statement. As a project manager, Darrell is  excited that he is assigned to be in charge of the most important project  this year. After being chartered for the project, he ... c. prepare for the template to monitor project progress. d. estimate the entire project budget.

Last Answer : b. start to define and develop the stakeholder needs and requirements

The purpose of project planning is to identify various areas of the project work and the influencing factors, and subsequently define the boundaries of the project performance. (True/False)

Description : The purpose of project planning is to identify various areas of the project work and the  influencing factors, and subsequently define the boundaries of the project performance.  (True/False)

Last Answer : Ans. True

The methods and regulation used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project is known as … a. project management. b. Process Management c. Process d. Activities

Description : The methods and regulation used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project is known as … a. project management. b. Process Management c. Process d. Activities

Last Answer : a. project management.

Which of the following is true regarding the project scope statement?A. The project scope statement includes a change control system that describes how to make changes to the project scope. B. The project scope further elaborates the Initiating processes and serves as a basis for future project decisions. C. The project scope statement describes how the team will define and develop the work breakdown structure. D. The project scope statement assesses the reliability of the project scope and describes the process for verifying and accepting completed deliverables.

Description : Which of the following is true regarding the project scope statement? A. The project scope statement includes a change control system that describes how to  make changes to the ... reliability of the project scope and describes  the process for verifying and accepting completed deliverables.

Last Answer : B. The project scope further elaborates the Initiating processes and serves as a basis  for future project decisions.

Which of the following may generate a milestone list: A. Define Activities B. Sequence Activities C. Estimate Activity Resources D. Estimate Activity Durations

Description : Which of the following may generate a milestone list: A. Define Activities B. Sequence Activities C. Estimate Activity Resources D. Estimate Activity Durations

Last Answer : A. Define Activities

A Responsibility Assignment Matrix (RAM) can be used to: a. define the terms of reference of the project manager. b. define the limits of the project sponsor’s responsibilities. c. allocate risk management response activities to project personnel. d. allocate work packages to those responsible for project work.

Description : A Responsibility Assignment Matrix (RAM) can be used to:  a. define the terms of reference of the project manager.  b. define the limits of the project sponsor's responsibilities.  ... response activities to project personnel.  d. allocate work packages to those responsible for project work.

Last Answer : d. allocate work packages to those responsible for project work.

Which one of the following statements best defines the purpose of a Product Breakdown Structure(PBS)? a. To define the hierarchy of deliverables that are required to be produced on the project. b. To define how the products are produced by identifying derivations and dependencies. c. To establish the extent of work required prior to project commissioning and the handover. d. To identify the health and safety strategies and procedures to be used on the project.

Description : Which one of the following statements best defines the purpose of a Product Breakdown  Structure(PBS)?  a. To define the hierarchy of deliverables that are required to be produced on the project.  b. ... .  d. To identify the health and safety strategies and procedures to be used on the project.

Last Answer : a. To define the hierarchy of deliverables that are required to be produced on the project.

Define Car And Dar?

Description : Define Car And Dar?

Last Answer : CAR - Casual analysis and resolution: CAR identifies problem and perform a root cause analysis of the same. CAR needs to be performed at every project phase. Fishbone diagram ... to analyze possible decisions using a formal evaluation process that identifies alternatives against current resources.

A project has a 60% chance of a $100,000 profit and a 40 per cent of a US $100,000 loss. The Expected Monetary Value for the project is A. $100,000 profit B. $60,000 loss C. $ 20,000 profit D. $40,000 loss

Description :  A project has a 60% chance of a $100,000 profit and a 40 per cent of a US $100,000  loss. The Expected Monetary Value for the project is  A. $100,000 profit  B. $60,000 loss  C. $ 20,000 profit  D. $40,000 loss

Last Answer : C. $ 20,000 profit

To complete a 20 person-month project in 10 months, a team should have 4 full-time staff members assigned to the project.

Description : To complete a 20 person-month project in 10 months, a team should have 4 full-time  staff members assigned to the project.

Last Answer : Ans: False

Which of the following statements regarding cash flow patterns (for time periods 0, 1, 2, 3, and 4) is correct? A. The sequence of -Rs.100, Rs.50, Rs.40, Rs.60, and Rs.50 is a non-conventional cash flow pattern B. The sequence of -Rs.100, Rs.600, -Rs.1,100, Rs.600, and Rs.20 potentially has a maximum of two internal rates of return. C. The sequence of +Rs.100, -Rs.1,100, and Rs.1,600 is a conventional cash flow pattern. D. The sequence of -Rs.50, Rs.50, Rs.70, Rs.60, and -Rs.150 potentially has at most two internal rates of return.

Description : Which of the following statements regarding cash flow patterns (for time periods 0, 1, 2, 3, and 4) is correct? A. The sequence of -Rs.100, Rs.50, Rs.40, Rs.60, and Rs.50 is a non-conventional cash ... -Rs.50, Rs.50, Rs.70, Rs.60, and -Rs.150 potentially has at most two internal rates of return.

Last Answer : B. The sequence of -Rs.100, Rs.600, -Rs.1,100, Rs.600, and Rs.20 potentially has a maximum of two internal rates of return.

If the Sales is Rs.100 crores, EBIT is Rs.30 crores, PAT is Rs.20 crores and Total Assets is Rs.300 crores, then the return on assets (ROA) is given by A. 6.67% B. 10% C. 33.33% D. 23.33% E. 26.67%

Description : If the Sales is Rs.100 crores, EBIT is Rs.30 crores, PAT is Rs.20 crores and Total Assets is Rs.300 crores, then the return on assets (ROA) is given by A. 6.67% B. 10% C. 33.33% D. 23.33% E. 26.67%

Last Answer : B. 10%

In which of the following systems, few rules over all

Description : In which of the following systems, few rules over all

Last Answer : Oligarchy

Herodatus is considered as

Description : Herodatus is considered as

Last Answer : Father of History

Each component of the software product is separately estimated and the results aggregated to produce an estimate for the overall job. (A) Algorithmic model (B) Expert judgment (C) Bottom-up (D) Top down

Description : Each component of the software product is separately estimated and the results aggregated to produce an estimate for the overall job. (A) Algorithmic model (B) Expert judgment (C) Bottom-up (D) Top down

Last Answer : (C) Bottom-up

Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known. (A) Algorithmic model (B) Expert judgment (C) Top down (D) Analogy

Description : Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known. (A) Algorithmic model (B) Expert judgment (C) Top down (D) Analogy

Last Answer : (D) Analogy

The entire process of a project may be considered to be made up on number of sub process placed in different stage called the (A) Technical key resources (B) Work key structure (C) Work Breakdown Structure (WBS). (D) None of the above

Description : The entire process of a project may be considered to be made up on number of sub process placed in different stage called the (A) Technical key resources (B) Work key structure (C) Work Breakdown Structure (WBS). (D) None of the above

Last Answer : (C) Work Breakdown Structure (WBS).

In the initial stage of the project the probability of comple(C) Low (D) Any of the aboveting the project is ___ . (A) Zero (B) High

Description : In the initial stage of the project the probability of completing the project is ___ . (A) Zero (B) High (C) Low (D) Any of the above

Last Answer : (C) Low

The probability of completing the project can be estimated based upon the ____ . (A) Uniform distribution curve (B) Normal distribution curve. (C) U-shaped distribution curve (D) None of the above

Description : The probability of completing the project can be estimated based upon the ____ . (A) Uniform distribution curve (B) Normal distribution curve. (C) U-shaped distribution curve (D) None of the above

Last Answer : (B) Normal distribution curve.

Five dimensions that must be managed on a project (A) Constraint, Quality, Cost, Schedule, Staff (B) Features, Quality, Cost, Schedule, Staff (C) Features, priority, Cost, Schedule, Staff (D) Features, Quality, Cost, Schedule, customer

Description : Five dimensions that must be managed on a project (A) Constraint, Quality, Cost, Schedule, Staff (B) Features, Quality, Cost, Schedule, Staff (C) Features, priority, Cost, Schedule, Staff (D) Features, Quality, Cost, Schedule, customer

Last Answer : (B) Features, Quality, Cost, Schedule, Staff

Project performance consists of (A) Time (B) Cost (C) Quality (D) All of the above

Description : Project performance consists of (A) Time (B) Cost (C) Quality (D) All of the above

Last Answer : (C) Quality

Design phase consist of (A) Input received (B) Output received (C) Both (A) and (B) (D) None of the above

Description : Design phase consist of (A) Input received (B) Output received (C) Both (A) and (B) (D) None of the above

Last Answer : (C) Both (A) and (B)

Following are the phases of Project Management Life Cycle. Arrange them in correct order 1. Design, 2. Marketing, 3. Analysis and evaluation, 4. Inspection, testing and delivery (A) 3-2-1-4 (B) 1-2-3-4 (C) 2-3-1-4 (D) 4-3-2-1

Description : Following are the phases of Project Management Life Cycle. Arrange them in correct order 1. Design, 2. Marketing, 3. Analysis and evaluation, 4. Inspection, testing and delivery (A) 3-2-1-4 (B) 1-2-3-4 (C) 2-3-1-4 (D) 4-3-2-1

Last Answer : (A) 3-2-1-4