Lider Ltd is a leading bathroom furniture manufacturer in Indi
a. The company has more than 30 years experience in the market with extended knowledge of engineering and customers' taste. Lider is planning to launch a new type of bath fitting next year which offers Bluetooth connectivity and thermostat display. The company gathers a team of multi-disciplines, including engineering, procurement, sales and marketing. At the first team meeting, the project leader tells the team to discuss which functions will be valued by the customers, and how to deliver those functions with the lowest costs possible. Which of the following describes the process that the project team is undertaking?

• A.Cost analysis
• B.Standardisation
• C.Value engineering
• D.Just in time

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Aldar Properties is a property developer in UAE. In last month, it spent $2,160 for 10 tons of steel. In this month, it had planned 10% increment in budget for steel comparing to last month. But the number of orders boosted and total spend on steel reached $1,992.1 while Aldar has imported 11 tons. What is the main cost driver of steel budget?

• A.Both price and quantity variances
• B.Inflation
• C.Quantity variance
• D.Price variance

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Which type of specification is less time-consuming to develop?

• A.Outcome-based specification
• B.Design specification
• C.Conformance specification
• D.Technical drawings

Correct Answer: A

There are two major types of specification: conformance and performance specifications. They have the following characteristics:

Since performance specification is often a list of outputs or outcomes, it usually takes less time to develop than conformance specification.

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What is the output of regression analysis?

• A.Forecasting process
• B.Dependent variables
• C.Line of best fit
• D.Independent variables

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Synergy Ltd is a fast-growing tool and hardware retailer. The company's customer services team has been using Excel worksheets to manage customer relationships. When the company is expend-ing its market presence, this way of working leads to poorer customer services as the database is scattered around in spreadsheet, leading to patchy and inconsistent conversations with customers. The company decides to purchase a CRM system. What requirement should Synergy's procurement team take into account in the specification for CRM system?

• A.Total number of the supplier's employees
• B.The ability to import bulk data from Excel spreadsheets
• C.The relative size of the potential suppliers to Synergy
• D.The form and reference number of the purchase order

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