Business Management Systems

Which type of business management system is best described as an “off-the-shelf” (OTS) or prepackaged system?

• a database management system (DBMS)

• a software as a service (SaaS) system

• a custom cloud-based system

• an on-premises system

Answer explanation

While some SaaS packages can be customized, most allow just a limited amount of customization; by-and-large the manager has to take the system as it is given.

Which stage of the project management process involves documenting the lessons learned during the project’s execution?

• Closure Stage

• Documentation Stage

• Optimization Stage

• Review and Analysis Stage

Answer explanation

The last stage, or the closure stage, is when the project manager documents the lessons learned during the project’s execution.

The stage of the project management (PM) process where the manager constantly monitors the progress of the project and the project’s resources is called the execution phase.

• True

• False

Answer explanation

The third phase, or the execution phase, of the project management (PM) process is where the manager constantly monitors the progress of the project and the projects resources.

Most project management (PM) systems are located on local servers in order to reduce security risks and facilitate collaboration among the various project stakeholders.

• True

• False

Answer explanation

In order to reduce security risk and facilitate collaboration among project stakeholders, most project management (PM) software is cloud-based or located on the internet.

What are Big Data Analytics?

• a system that seeks to manage a firm’s interactions with customers by using data analysis to identify valuable customers and target future customers

• the technology and processes used to gain intelligent, usable information from applicable databases across the internet

• Business Process Management that seeks to streamline an organization’s activities

• a system that accurately determines reordering points and order quantity levels

Answer explanation

Big Data Analytics is the technology and processes that are used to gain intelligent, usable information from databases across the internet.

Because accurate tracking of employee performance will always be critical to good management, most firms invest in a software that manages

• benefits administration.

• recruiting and hiring.

• compensation levels.

• employee evaluation.

Answer explanation

Employee evaluation software is a key management tool that tracks and supports employee performance.

Human resource management is the strategic allocation of an organization’s resources to the employees who operate most efficiently and can use the resources to the best advantage.

• True

• False

Answer explanation

Human resource management is the strategic use of employees to allow organizations to operate efficiently and gain competitive advantage.

Which statement correctly names the type of HR management software that should be used for the described activity? More than one answer may be correct.

• Documenting employee performance and providing an equitable means of ranking performance requires employee evaluation software.

• Ensuring that hourly or salaried employees and independent contractors are paid correctly requires compensation management software.

• Looking ahead to determine the future workforce needs of the corporation requires recruiting and hiring software.

• Ensuring that the future workforce will have the necessary knowledge and skills requires providing colleges with e-learning software.

The performance of inventory management systems has been greatly advanced since the 1970s through the development of software as a service (SaaS) options and database management systems (DBMS).

• True

• False

Answer explanation

The universal product code (UPC) and radio frequency identification (RFID) technology, combined with database management systems (DBMS), have greatly advanced inventory management systems.

Which of the following is a tool commonly used by project managers and accessed using project management software?

• process execution

• employee benefits software

• process modeling

• Gantt charts

Answer explanation

Project management software allows managers to make use of Gantt charts.