Shared Flashcard Set

Details

MN 3331 Exam 2 Quiz Questions
Systems Engineering
33
Finance
Graduate
10/19/2011

Additional Finance Flashcards

 


 

Cards

Term
Systems engineering top-down design (also termed decomposition and definition) places initial emphasis upon (first step):
Definition
Stakeholder Requirements
Term
Systems engineering top-down design (also termed decomposition and definition) places initial emphasis upon (first step):
Definition
Technical Assessment
Term
A work breakdown structure: (pick 2)
Definition
Can be expressed in multiple levels of interest

Is a product oriented family tree
Term
This systems engineering technical process is part of a feedback "loop" in the "V" model and answers the question: "Did we build it right?" (In other words, does the system meet the design to or build-to specifications?)
Definition
Verification
Term
This systems engineering technical process is part of a feedback "loop" in the "V" model and answers the question: "Did we build the right thing?"
Definition
Validation
Term
Risk is comprised of components that reflect: (pick all that apply)
Definition
A future root cause (yet to happen), which, if eliminated or corrected, would prevent a potential consequence from occurring,
2. A probability (or likelihood) assessed at the present time of that future root cause occurring, and
3. The consequence (or effect) of that future occurrence.
Term
This step in the DoD Risk Management Process directs the teams to execute the defined and approved risk mitigation plans:
Definition
Risk Mitigation Plan Implementation
Term
echnical Performance Measurements (TMPs), that compare the actual versus planned technical development and design, are part of which systems engineering technical management process?
Definition
Technical Assessment
Term
The two broad families of contract types are: (pick 2)
Definition
Fixed Price
Cost Reimbursement
Term
A statement of objectives (SOO) has these characteristics: (select all that apply)
Definition
Intended to garner maximum innovation in contractor proposals
high level performance objectives stated in broad terms
Term
The following amount is used when budgeting for a Cost Plus Award Fee (CPAF) contract:
Definition
Estimated cost, base fee, max award fee for budget period
Term
Research and development funds will expire in two months. The program has a new requirement to develop a prototype unmanned vehicle for logistic support and wishes to use the funds prior to expiration. The program manager knows that Lockheed Martin has done similar work and could do the work satisfactory and that the government could sign a sole source contract before the funds expire. Market research has shown that several other companies could also do the work; however, a full and open competition would not be able to be completed in time to use the expiring funds. Which of the following best describes FAR policy in regards to exceptions to full and open competition for this situation
Definition
Use full and open competition as expiring funds is not a reason for an exception to competition
Term
Which of the following are characteristics of a fixed price type contract:
Definition
Minimum cost risk on government
Risk of performance on contractor
Term
Contract administration services include all of the following EXCEPT:
A) Contract Management
B) Quality Assurance
C) Engineering Support
D) Property Management
E) Financial Services
F) Operational Testing
Definition
Operational Testing
Term
Decisions as to which contractor processes and products DCMA will perform surveillance on is based upon:
A) Cost of surveillance
B) Risk assessments
C) Earned value variance reports
D) Contractor's longevity in the business
Definition
Risk assessments
Term
Allowable costs must comply with all of the following: (select all that apply)
Reasonableness
Allocability
Direct costs
Terms of the contract
Generally accepted accounting principles
Definition
Reasonableness (per ppt 10-2 slide 21)
Allocability
Terms of the contract
Generally accepted accounting principles
Term
The title of the person in the source selection team that makes a final source selection decision is the:
A. SSA (from Source Selection Document pg 2)
B. SSEB
C. SSAC
D. Program Manager
Definition
SSA (from Source Selection Document pg 2)
Term
Which of the following statement is true of weaknesses and a deficiencies when evaluating competitive proposals:
A. A Company whose proposal contains either a deficiency or weakness should not be awarded a contract.
B. A Company whose proposal contains a weakness should not be awarded a contract
C. A Company whose proposal contains a deficiency should not be awarded a contract
D. A deficiency may be corrected after contract award.
Definition
A Company whose proposal contains a deficiency should not be awarded a contract (deficiency is unacceptable and per the 10-1 slide 23 a weakness only increases the risk of unscuccessful performance, cant find where it states a weakness means no contract) Validated
Term
This cost estimating method uses a 1:1 comparison between similar items:
A. Analogy (I think this one. GAO Cost Estimate Guide) Validated
B. Parametric (this is the only one that is comparing similar items statistically) ppt 11-1 slide 39
C. Engineering
D. Actuals
Definition
Analogy (I think this one. GAO Cost Estimate Guide) Validated
Term
Assuming 10% learning, if the first item produced takes 100 hours, the second item produced can be expected to take:
A. 100 hours
B. 90 hours (didn’t he just go over this) second item is 10 % less than the first item.Validated
C. 80 hours
D. 70 hours
Definition
90 hours (didn’t he just go over this) second item is 10 % less than the first item.Validated
Term
For major defense acquisition programs (MDAPs), independent cost estimates (ICE) are required (by statute) at the following milestone reviews/decisions: (select all that apply)
A. Milestone A
B. Milestone B
C. Milestone C
D. Full Rate Production Decision Review
Definition
A. Milestone A
B. Milestone B
C. Milestone C
D. Full Rate Production Decision Review (Required at Program Initiation and all subsequent Milestones and Decision Reviews per ppt 11-1 slide 59) doesn’t state per statute but assumed it is implied by the statement in the slideValidated
Term
The CARD is prepared by:
A. Program Manager
B. DCAPE
C. Contracting Officer
D. Service Cost Agency
Definition
Program Manager (ppt 11-1 slide 55) Validated
Term
The Independent Cost Estimate (ICE) for ACAT ID programs is prepared by:
A. GAO
B. USD (AT&L) staff
C. DCAPE
D. Program Manager
Definition
DCAPE per ppt 11-1 slide 59 Validated
Term
Overall management responsibility for Planning, Programming, Budgeting and Execution (PPBE) lies with this official:
A. Deputy Secretary of Defense
B. Director, Cost Assessment and Program Evaluation
C. Deputy Under Secretary of Defense (Policy)
D. Deputy Under Secretary of Defense (Comptroller)
Definition
Deputy Secretary of Defense (per introduction to acquisition management guide)
Term
The Program Objective Memorandum (POM) now represents 5 years and the Budget Estimate Submission (BES) represents 1 year. What are the years of the POM and BES that the Military Components and Defense Agencies will submit to OSD in 2011?
A. POM 2013-2017; BES 2012
B. POM 2011-2015; BES 2012
C. POM 2012-2016; BES 2012
D. POM 2013-2017; BES 2013
Definition
POM 2013-2017; BES 2013 (Defense Memorandum, and slide 31 from class right now)
Term
A product of this phase of PPBE is the Defense Planning and Programming Guidance.
A. Execution
B. Budgeting
C. Planning
D. Programming
Definition
Planning Ch 8, pg 56., Intro to Defense Acquisitions, This fiscal guidance impacts content of the emerging DPPG and subsequent POM and BES submissions.
Term
This review may be conducted by the SECDEF to address major issues. These issues will be addressed during the programming and budgeting phases.
A. Defense Planning & Programming Guidance
B. Chairman’s Program Assessment
C. Front End Assessment
D. National Security Strategy
Definition
Front End Assessment (per Introduction to acquisition management pg 56)
Term
Which player is in charge of the Budgeting phase of PPBE within the DoD?
A. USD(Comptroller)
B. Director, Cost Analysis and Program Evaluation
C. USD(Policy)
D. Office of Management and Budget
Definition
USD(Comptroller) Ch 8, pg. 58 Intro to Defense Acquisitions, Budgeting Section
Term
Reprogramming permits the DoD to:
A. Carry over funds that are about to expire into the next fiscal year
B. Use funds for purposes other than those originally intended by Congress
C. Move funds from one year to the next
D. Obtain additional funds from Congress to cover insufficient funds
Definition
Use funds for purposes other than those originally intended by Congress (Mod 13, Slide 48) Validated
Term
The Anti-Deficiency Act: (select all that apply)
A. Prohibits obligations in excess of the amount available in an appropriation, apportionment, allocation, or allotment
B. Requires agencies to establish control systems and fix responsibility for violations of the Act
C. Requires that appropriated funds be used for needs that arise in the years of the appropriation's obligation availability period
D. Prohibits obligations in advance of an appropriation
Definition
A. Prohibits obligations in excess of the amount available in an appropriation, apportionment, allocation, or allotment (Mod 13, Slide 44) Validated
B. Requires agencies to establish control systems and fix responsibility for violations of the Act (Mod 13, Slide 44) Validated
D. Prohibits obligations in advance of an appropriation (Mod 13, Slide 44) Validated
Term
Regardless of the appropriation title, the duration of the expired phase, during which invoices can be paid using the cited funds, is:
A. 2 years
B. 3 years
C. 4 years
D. 5 years
Definition
5 years (Budget Execution, Slide 18,19) Validated
Term
Of the three process involved in Congressional Enactment, this process does not result in a law:
A. Budget Resolution
B. Authorization
C. Appropriation
Definition
Budget Resolution (Cong Enac, Slide 14) Validated
Term
It is currently Fiscal Year 2012. Which of the following actions are you authorized to do with your FY10 Procurement funding (select all choices that apply):
A. Increase scope of existing contracts
B. Incur new obligations
C. Funding may not be used
D. Make Payments on existing obligations
Definition
A. Increase scope of existing contracts (Budget Execution, Slide 18) Validated
B. Incur new obligations (Budget Execution, Slide 18) Validated
D. Make Payments on existing obligations (Budget Execution, Slide 18) Validated
Supporting users have an ad free experience!