MAT/543 MAT543 MAT 543 WEEK 11 EXAM 3

Which is an example of using relevant information for the purpose of determining the potential payoff of a decision?

What is an example of a non-monetary decision payoff for a health care professional?

Analytical decision-making can be depicted in which type of pictorial format?

The probability of a decision’s possibility must always add up to what?

A manager is mistaken to implement which action before fully evaluating the start of a new project?

Which method to determine costs is considered the least accurate way to collect information?

Which method to determine costs involves tracking individuals through intervention?

Which method to determine costs involves using a provider-based approach?

PERT has multi-system applications for projects of what scale?

What is known as the difference between the earliest and latest start times for an activity?

What does TSPR stand for?

To understand and estimate project tasks and predecessor activities, what should managers do?

Harris Health is considering the development of a new ambulatory care service.  The project will cost $500,000 to implement and have a useful life of five years.  At the conclusion of the project’s useful life, equipment associated with the project can be sold for $45,000.  Over the five years of operation, incremental revenue attributed to the project will be $180,000 annually, while incremental expenses annually will be $48,000.  The organization is also considering an alternative project of similar risk and time horizon, which has a rate of return equal to 4.5%.  What is the project’s net present value (NPV)?

Harris Health is considering the development of a new ambulatory care service.  The project will cost $500,000 to implement and have a useful life of five years.  At the conclusion of the project’s useful life, equipment associated with the project can be sold for $45,000.  Over the five years of operation, incremental revenue attributed to the project will be $180,000 annually, while incremental expenses annually will be $48,000.  The organization is also considering an alternative project of similar risk and time horizon which has a rate of return equal to 4.5%. Assume Harris Health has a hurdle rate of 7% for projects of this type. From a financial perspective, should Harris pursue the project?

What is meant by an organization’s hurdle rate?

Harris Health is considering the development of a new ambulatory care service.  The project will cost $500,000 to implement and have a useful life of five years.  At the conclusion of the project’s useful life, equipment associated with the project can be sold for $45,000.  Over the five years of operation, incremental revenue attributed to the project will be $180,000 annually, while incremental expenses annually will be $48,000.  The organization is also considering an alternative project of similar risk and time horizon which has a rate of return equal to 4.5%.  What is the project’s computed internal rate of return (IRR)?

How many categories of contributing factors are parts of a Fish Bone chart?

What is the first step in quality analysis?

Total Quality Management (TQM) is based on the premise that any system exhibits a natural level of what?

Which quality analysis technique is used to specifically create group consensus?

Based on the data in the chart, what is the primary service area for Hospital A?
 
Community                            Hospital A              Hospital B              Hospital C              Hospital D
West                                       14.65%                   3.19                        63.29                      18.87%   
East                                         17.93                      3.23                        56.31                      22.53      
North                                      9.68                        12.32                      14.74                      63.27
South                                      4.94                        48.00                      9.45                        37.61
Central                                   10.15                      6.83                        30.45                      52.56
Upper                                     5.67                        56.92                      8.62                        28.80
Lower                                     44.39                      1.24                        25.36                      29.01

Which external factor in healthcare strategic planning is concerned with natal, mortality, and morbidity statistics?

Which type of planning focuses on space issues?

Based on the data in the chart, what is the primary service area for Hospital A?
 
Community                            Hospital A              Hospital B              Hospital C              Hospital D
West                                       14.65%                   3.19                        63.29                      18.87%   
East                                         17.93                      3.23                        56.31                      22.53      
North                                      9.68                        12.32                      14.74                      63.27
South                                      4.94                        48.00                      9.45                        37.61
Central                                   10.15                      6.83                        30.45                      52.56
Upper                                     5.67                        56.92                      8.62                        28.80
Lower                                     44.39                      1.24                        25.36                      29.01

Which external factor in healthcare strategic planning is concerned with income and education level?