Digital Transformation Engineering Economics Quiz PDF

# Digital Transformation Engineering Economics ## Multiple-Choice Quiz 1. **How does digital transformation reduce operational costs in engineering industries?** * A) By automating repetitive tasks and reducing labor costs. * B) By increasing manual interventions in all processes. * C)...

# Digital Transformation Engineering Economics ## Multiple-Choice Quiz 1. **How does digital transformation reduce operational costs in engineering industries?** * A) By automating repetitive tasks and reducing labor costs. * B) By increasing manual interventions in all processes. * C) By making supply chains more inefficient. * D) By ignoring predictive maintenance and data analytics. 2. **What is a key benefit of AI in engineering project management?** * A) It increases project delays. * B) It optimizes scheduling and resource allocation. * C) It makes decision-making more complex. * D) It eliminates the need for engineers. 3. **How does predictive maintenance help reduce costs?** * A) By preventing unexpected equipment failures. * B) By increasing downtime for repairs. * C) By ignoring maintenance schedules. * D) By relying only on manual inspections. 4. **Which technology enhances real-time monitoring in engineering industries?** * A) Internet of Things (IoT). * B) Paper-based records. * C) Manual data entry. * D) Human-only monitoring. 5. **How can cloud computing benefit engineering firms?** * A) By enabling remote collaboration and data storage. * B) By increasing dependency on physical servers. * C) By eliminating the need for cybersecurity. * D) By slowing down data access. 6. **What financial risk is associated with digital transformation?** * A) High initial investment costs. * B) Reduced efficiency. * C) Increased manual workload. * D) Less access to real-time data. 7. **Which factor improves supply chain efficiency in digital transformation?** * A) AI-driven analytics and automation. * B) Delayed order processing. * C) Increased paperwork. * D) Limited access to supplier data. 8. **How does automation impact labor costs?** * A) It reduces labor costs by eliminating repetitive tasks. * B) It increases dependency on manual labor. * C) It makes tasks more complex. * D) It slows down production processes. 9. **Which pricing model is enabled by digital transformation?** * A) Subscription-based or pay-per-use models. * B) Fixed pricing without flexibility. * C) Increased costs with no added benefits. * D) Only one-time payments for all services. 10. **How does digital transformation impact decision-making in engineering?** * A) AI and data analytics improve accuracy. * B) It makes decision-making slower. * C) It removes human involvement entirely. * D) It relies only on traditional methods. 11. **What role does AI play in manufacturing optimization?** * A) It enhances production efficiency and quality control. * B) It increases machine downtime. * C) It removes the need for monitoring. * D) It slows down automation processes. 12. **How can blockchain improve engineering supply chains?** * A) By ensuring transparency and security in transactions. * B) By making data manipulation easier. * C) By increasing reliance on manual tracking. * D) By reducing trust between suppliers. 13. **How does digital twin technology help in engineering?** * A) By creating virtual models for simulations and testing. * B) By increasing project costs with no benefits. * C) By eliminating the need for real-time monitoring. * D) By slowing down the design process. 14. **What is a major cybersecurity concern in digital transformation?** * A) Data breaches and cyberattacks. * B) Increased security due to outdated systems. * C) Reduced risk with no security measures. * D) Ignoring encryption in cloud storage. 15. **How does digital transformation affect capital and operating expenditures (CapEx & OpEx)?** * A) It shifts CapEx to OpEx through cloud-based solutions. * B) It increases the cost of manual operations. * C) It reduces the need for cost optimization. * D) It eliminates digital investment costs. 16. **What is an advantage of using AI in supply chain management?** * A) Demand forecasting and inventory optimization. * B) Increased waste and inefficiencies. * C) Slower decision-making. * D) Reduced supply chain visibility. 17. **Which government policy supports digital transformation in engineering?** * A) Tax benefits and grants for technology adoption. * B) Regulations that discourage digital investment. * C) Increased restrictions on AI implementation. * D) Banning cloud-based services. 18. **How does Industry 4.0 improve efficiency in manufacturing?** * A) By integrating automation, AI, and smart systems. * B) By reducing technological advancements. * C) By increasing dependency on manual labor. * D) By limiting real-time data usage. 19. **What is a key advantage of digital transformation in engineering?** * A) Faster innovation and competitive advantage. * B) Increased project delays. * C) Higher costs with no benefits. * D) Reduced efficiency and decision-making speed. 20. **How does AI-driven risk management benefit engineering firms?** * A) By predicting potential failures before they occur. * B) By relying only on historical data. * C) By eliminating safety measures. * D) By increasing operational risks.