Exam 11: Project Management

Once the crash cost per time period value is negative, no additional crashing should be performed.

Table 11-4 The following represents a project with known activity times.All times are in weeks. -Using the data in Table 11-4, what is the minimum possible time required for completing the project?

Table 11-8 A mad scientist has identified the ten steps required to create a race of atomic supermen to complete his plans for world conquest.The estimated time in weeks and cost in US dollars appear in the table along with the shortest possible duration for each activity and cost of those expedited activities.Activities are designated generically as A, B, and so on in order to avoid any copycat projects of this nature. -Consider the project summarized in Table 11-8.Suppose in addition to the costs shown in the table, the mad scientist faces a $2,000 per week opportunity cost of not being in control of the world.Which of these activities should not be reduced in an effort to deliver a minimum cost (both project and opportunity cost)project?

The value of work completed is computed by multiplying budgeted cost by the percent completion.

Budgets are computed using only ES times.

In PERT, the earliest start time for an activity is equal to the latest of the earliest finish times of all of its immediate predecessors.

For projects that have a daily fixed cost, it is not possible to reduce the overall duration once the cost of crashing exceeds the daily fixed cost.

Slack time in a network is the

An IT project requires 6 activities.The table below displays the expected time and budgeted cost for each activity. Develop a budget for the 15 weeks of the project using LS times.

CPM

In PERT, we assume that

Table 11-9 A mad scientist has identified the twelve steps required to complete his "take over the world" rehabilitation.The estimated time in weeks and cost in US dollars appear in the table along with the shortest possible duration for each activity and cost of those expedited activities. -Consider the project summarized in Table 11-9.In addition to the cost of the activities, the mad scientist must rent a menagerie of comfort animals during his program.The menagerie includes a number of animals, plus the feed, along with the services of a shepherd at a cost of $700 per week.There is also a $500/week penalty imposed by the League of Justice for any project lasting longer that 52 weeks.What is the duration of the normal completion time and total project cost at that time? What activities should be crashed to minimize the total project cost? What is the new project duration and cost?

Given the following small project, the critical path is ________ days.

A small software development project has five major activities.The times are estimated and provided in the table below. (a)What is the expected completion time for this project? (b)What variance would be used in finding probabilities of finishing by a certain time?

Development of a new deluxe version of a particular software product is being considered.The activities necessary for the completion of this are listed in the table below (Time in weeks). (a)What is the project completion date? (b)What is the total cost required for completing this project on normal time? (c)If you wish to reduce the time required to complete this project by one week, which activity should be crashed, and how much will this increase the total cost?

Table 11-5 -How long could Table 11-5's activity F be delayed without delaying the project?

Reducing the overall activity time is based on which of the following steps?

Given an activity's optimistic, most likely, and pessimistic time estimates of 3, 7, and 11 days respectively, compute the expected time for this activity.

Table 11-4 The following represents a project with known activity times.All times are in weeks. -Using the data in Table 11-4, determine the latest time activity A can be started without delaying the project completion.

An IT project requires 6 activities.The table below displays the expected time and budgeted cost for each activity. Develop a budget for the 15 weeks of the project using ES times.