Question

In one manufacturing company, it is known the probability of a product pass the quality control test can only be 0.6, 0.2 or 0.1, otherwise they are identified as defective. Considering occurrence chance of 0.6 scenario is twice higher than the other possibilities, if quality control center test products, what is the probability that until a defective item has been found: is 0.6, 0.2 or 0.1 given they had to test 1, 2, 3, or 4 products?

Answer 1

Question 1: Can you think of a situation where quality is not an important factor and thus quality costs can be reduced drastically?

Question 2: Is it possible for a process to be out of statistical control even though all the data points fall within control limits? Explain?

Question 3: what points management should focus on while doing risk analysis in project management. Also describe how does it affect the overall project elements such as costs, deadlines, viability etc.

Question 4: Which project should company take; A high risk project with huge profits or low risk project with low profits? Explain all criterion used for making a decision?