Question 1

The ________ is a statement of all work that has to be completed.

Accepted Answer

work breakdown structure (WBS)

Question 2

Deviations from the project plan are often referred to as ________.

Accepted Answer

variances

Question 3

The crash cost is the additional cost associated with reducing the time required to complete an activity in a project.

Accepted Answer

A) True 
 B)False  False

Question 4

A project has three paths.A-B-C has a length of 25 days.A-D-C has a length of 15 days.Finally,A-E-C has a length of 20 days.Which one of the following statements is TRUE?

Accepted Answer

A)  A-D-C is the critical path. 
B)  A-B-C has the most slack. 
C)  The expected duration of this project is 25 days. 
D)  The expected duration of this project is 25 + 15 + 20 = 60 days. 
A)  A-D-C is the critical path. 
B)  A-B-C has the most slack. 
C)  The expected duration of this project is 25 days. 
D)  The expected duration of this project is 25 + 15 + 20 = 60 days.

Question 5

In making an estimate of the most pessimistic time for an activity,a manager deliberately estimates this time too high (i.e.,longer than it should be).What is the result of this action,assuming the beta distribution is being used to make time estimates?

Accepted Answer

A)  The most likely time for this activity will be larger than it should be. 
B)  The variance of the activity will be smaller than it should be. 
C)  The beta distribution will be symmetric around its mean. 
D)  The expected time for this activity will be larger than it should be. 
A)  The most likely time for this activity will be larger than it should be. 
B)  The variance of the activity will be smaller than it should be. 
C)  The beta distribution will be symmetric around its mean. 
D)  The expected time for this activity will be larger than it should be.

Question 6

Table 3.9
All activity times for the project are in weeks.
 $$\begin{array} { | c | c | c | c | c | } 
\hline \text { Activity } & \begin{array} { c } 
\text { Optimistic } \
\text { Time }
\end{array} & \begin{array} { c } 
\text { Most Likely } \
\text { Time }
\end{array} & \begin{array} { c } 
\text { Pessimistic } \
\text { Time }
\end{array} & \begin{array} { c } 
\text { Immediate } \
\text { Predecessor(s) }
\end{array} \
\hline \text { A } & 3 & 4 & 5 & \cdots \
\text { B } & 5 & 7 & 9 & - \
\text { C } & 2 & 3 & 10 & \text { A } \
\text { D } & 2 & 5 & 8 & \text { B } \
\text { E } & 1 & 7 & 7 & \text { B } \
\text { F } & 3 & 5 & 7 & \text { C,D } \
\text { G } & 7 & 8 & 9 & \text { D,E } \
\text { H } & 2 & 6 & 10 & F \
\hline
\end{array}$$
-Using Table 3.9,what is the critical path of this project?

Accepted Answer

A)  A-C-F-H 
B)  B-D-F-H 
C)  B-D-G 
D)  B-E-G 
A)  A-C-F-H 
B)  B-D-F-H 
C)  B-D-G 
D)  B-E-G

Question 7

For controlling projects,the Cost Performance Index (CPI)measures the ratio of the budgeted cost of the work completed to date divided by the actual cost for that same work.

Accepted Answer

A) True 
 B)False

Question 8

Resource allocation is an attempt to shift ________ from activities with slack to those on the critical path where resources are overloaded.

Accepted Answer

The answer of Resource allocation is an attempt to shift...

Question 9

What are the five steps involved in planning a project?

Accepted Answer

Defining the work breakdown st

Question 10

Of the four major phases in project life cycles,typically the execution stage requires the most resources.

Accepted Answer

A) True 
 B)False

Question 11

Table 3.8
 $$\begin{array} { | c | c | c | } 
\hline \text { Activity } & \begin{array} { c } 
\text { Immediate } \
\text { Predecessor(s) }
\end{array} & \begin{array} { c } 
\text { Time } \
\text { (weeks) }
\end{array} \
\hline \text { A } & \cdots & 3 \
\text { B } & \cdots & 4 \
\text { C } & A , B & 5 \
\text { D } & \text { A } & 6 \
\text { E } & \mathrm { C } & 4 \
\text { F } & \mathrm { D } , \mathrm { E } & 2 \
\hline
\end{array}$$
-Using Table 3.8,what is the critical path of the above project?

Accepted Answer

A)  B-C-E-F 
B)  B-C-F 
C)  A-D-F 
D)  A-C-E-F 
A)  B-C-E-F 
B)  B-C-F 
C)  A-D-F 
D)  A-C-E-F

Question 12

________ is a measure of the probability and consequence of not reaching a defined project goal.

Accepted Answer

The answer of ________ is a measure of the probability...

Question 13

Total slack can be calculated as the difference between the latest start (LS)and earliest start (ES),or by the difference between the latest finish (LF)and earliest finish (EF).

Accepted Answer

A) True 
 B)False

Question 14

Table 3.12
You are responsible for managing a project with the following activities (times are given in weeks).
 $$\begin{array} { | c | c | c | } 
\hline \text { Activity } & \begin{array} { c } 
\text { Expected } \
\text { Time }
\end{array} & \begin{array} { c } 
\text { Immediate } \
\text { Predecessor } ( \mathrm { s } )
\end{array} \
\hline \mathbf { A } & 3 & \cdots - \
\text { B } & 3 & - \
\text { C } & 5 & \text { A } \
\text { D } & 4 & \text { A,B } \
\text { E } & 4 & \text { B } \
\text { F } & 4 & \text { C,D } \
\text { G } & 3 & \mathrm { D } , \mathrm { E } \
\mathrm { H } & 5 & \mathrm {~F} , \mathrm { G } \
\hline
\end{array}$$
-Using Table 3.12,if the expected time for activity D is increased to 6 weeks,by how many weeks will the project's expected completion time increase?

Accepted Answer

A)  It will not increase. 
B)  It will increase by 1 week. 
C)  It will increase by 2 weeks. 
D)  It will increase by more than 2 weeks. 
A)  It will not increase. 
B)  It will increase by 1 week. 
C)  It will increase by 2 weeks. 
D)  It will increase by more than 2 weeks.

Question 15

Identify and briefly explain the four categories of project risks.

Accepted Answer

Four categories of project risks include

Question 16

When using the beta probability distribution to estimate activity times,which of the following statements is TRUE?

Accepted Answer

A)  The project manager is usually the only person involved in making time estimates, since obtaining estimates from workers involved in the activities would result in inconsistent estimates. 
B)  The beta distribution is used as a way of approximating a normal probability distribution for time estimates. 
C)  The use of most optimistic, most likely, and most pessimistic times for an activity will result in a determination of the expected times for that activity. 
D)  The larger the difference between most pessimistic time and most optimistic time for an activity, the smaller the variance of that time estimate. 
A)  The project manager is usually the only person involved in making time estimates, since obtaining estimates from workers involved in the activities would result in inconsistent estimates. 
B)  The beta distribution is used as a way of approximating a normal probability distribution for time estimates. 
C)  The use of most optimistic, most likely, and most pessimistic times for an activity will result in a determination of the expected times for that activity. 
D)  The larger the difference between most pessimistic time and most optimistic time for an activity, the smaller the variance of that time estimate.

Question 17

A project is an interrelated set of activities that has a definite starting and ending point.

Accepted Answer

A) True 
 B)False

Question 18

Draw the network corresponding to the following information.Also,complete the table,identify the critical path,and specify project completion time.
 $$\begin{array} { | c | c | c | } 
\hline \text { Activity } & \begin{array} { c } 
\text { Immediate } \
\text { Predecessor(s) }
\end{array} & \begin{array} { c } 
\text { Time } \
\text { (Weeks) }
\end{array} \
\hline \text { A } & \cdots & 3 \
\hline \text { B } & \cdots & 4 \
\hline \text { C } & \text { A } & 6 \
\hline \text { D } & \text { B } & 9 \
\hline \text { E } & \text { B } & 6 \
\hline \text { F } & \text { C,D } & 6 \
\hline \text { G } & \mathrm { D } , \mathrm { E } & 8 \
\hline \mathrm { H } & \mathrm { G } , \mathrm { F } & 9 \
\hline
\end{array}$$ 
 $$\begin{array} { | c | c | c | c | c | c | } 
\hline \text { Activity } & \begin{array} { c } 
\text { Earliest } \
\text { Start }
\end{array} & \begin{array} { c } 
\text { Earliest } \
\text { Finish }
\end{array} & \begin{array} { c } 
\text { Latest } \
\text { Start }
\end{array} & \begin{array} { c } 
\text { Latest } \
\text { Finish }
\end{array} & \text { Slack } \
\hline \mathrm { A } & & & & & \
\hline \mathrm { B } & & & & & \
\hline \mathrm { C } & & & & & \
\hline \mathrm { D } & & & & & \
\hline \mathrm { E } & & & & & \
\hline \mathrm { F } & & & & & \
\hline \mathrm { G } & & & & & \
\hline \mathrm { H } & & & & & \
\hline
\end{array}$$

Accepted Answer

\[\begin{array} { | c | c | c | c | c |

Question 19

Network methods let project managers analyze the time and cost implications of resource trade-offs.

Accepted Answer

A) True 
 B)False

Question 20

Table 3.13
You are responsible for managing a project with the following activities (times are given in weeks).
 $$\begin{array} { | c | c | c | } 
\hline \text { Activity } & \begin{array} { c } 
\text { Expected } \
\text { Time }
\end{array} & \begin{array} { c } 
\text { Immediate } \
\text { Predecessor } ( \mathrm { s } )
\end{array} \
\hline \mathbf { A } & 8 & \cdots - \
\text { B } & 10 & - \
\text { C } & 7 & \text { A,B } \
\text { D } & 5 & \text { B } \
\text { E } & 12 & \text { C } \
\text { F } & 7 & \text { C,D } \
\text { G } & 6 & \text { E,F } \
\text { H } & 10 & \text { F } \
\hline
\end{array}$$
-Using Table 3.13,if the expected time for activity E is decreased to 8 weeks,what is the new expected completion time for the project?

Accepted Answer

A)  31 weeks or less 
B)  32-33 weeks 
C)  34-35 weeks 
D)  more than 35 weeks 
A)  31 weeks or less 
B)  32-33 weeks 
C)  34-35 weeks 
D)  more than 35 weeks

The ________ is a statement of all work that has to be completed.

Deviations from the project plan are often referred to as ________.

The crash cost is the additional cost associated with reducing the time required to complete an activity in a project.

A project has three paths.A-B-C has a length of 25 days.A-D-C has a length of 15 days.Finally,A-E-C has a length of 20 days.Which one of the following statements is TRUE?

In making an estimate of the most pessimistic time for an activity,a manager deliberately estimates this time too high (i.e.,longer than it should be).What is the result of this action,assuming the beta distribution is being used to make time estimates?

Table 3.9 All activity times for the project are in weeks. Activity Optimistic Time Most Likely Time Pessimistic Time Immediate Predecessor(s) A 3 4 5 \@cdots B 5 7 9 - C 2 3 10 A D 2 5 8 B E 1 7 7 B F 3 5 7 C,D G 7 8 9 D,E H 2 6 10 F -Using Table 3.9,what is the critical path of this project?

For controlling projects,the Cost Performance Index (CPI)measures the ratio of the budgeted cost of the work completed to date divided by the actual cost for that same work.

Resource allocation is an attempt to shift ________ from activities with slack to those on the critical path where resources are overloaded.

What are the five steps involved in planning a project?

Of the four major phases in project life cycles,typically the execution stage requires the most resources.

Table 3.8 Activity Immediate Predecessor(s) Time (weeks) A \@cdots 3 B \@cdots 4 C A,B 5 D A 6 E 4 F , 2 -Using Table 3.8,what is the critical path of the above project?

________ is a measure of the probability and consequence of not reaching a defined project goal.

Total slack can be calculated as the difference between the latest start (LS)and earliest start (ES),or by the difference between the latest finish (LF)and earliest finish (EF).

Identify and briefly explain the four categories of project risks.

When using the beta probability distribution to estimate activity times,which of the following statements is TRUE?

A project is an interrelated set of activities that has a definite starting and ending point.

Network methods let project managers analyze the time and cost implications of resource trade-offs.

Creating Customer Value through Operations

Supply Chain Management

Process Configuration

Capacity

Inventory Management

Quality and Process Improvement

Lean Systems

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Decision Making

Financial Analysis

Work Measurement

Learning Curve Analysis

Computer-Integrated Manufacturing

Acceptance Sampling Plans

Simulation

Special Inventory Models

Linear Programming

Waiting Lines

Filters

Exam 8: Managing Projects

The ________ is a statement of all work that has to be completed.

Deviations from the project plan are often referred to as ________.

The crash cost is the additional cost associated with reducing the time required to complete an activity in a project.

A project has three paths.A-B-C has a length of 25 days.A-D-C has a length of 15 days.Finally,A-E-C has a length of 20 days.Which one of the following statements is TRUE?

In making an estimate of the most pessimistic time for an activity,a manager deliberately estimates this time too high (i.e.,longer than it should be).What is the result of this action,assuming the beta distribution is being used to make time estimates?

Table 3.9 All activity times for the project are in weeks. Activity Optimistic Time Most Likely Time Pessimistic Time Immediate Predecessor(s) A 3 4 5 \@cdots B 5 7 9 - C 2 3 10 A D 2 5 8 B E 1 7 7 B F 3 5 7 C,D G 7 8 9 D,E H 2 6 10 F -Using Table 3.9,what is the critical path of this project?

For controlling projects,the Cost Performance Index (CPI)measures the ratio of the budgeted cost of the work completed to date divided by the actual cost for that same work.

Resource allocation is an attempt to shift ________ from activities with slack to those on the critical path where resources are overloaded.

What are the five steps involved in planning a project?

Of the four major phases in project life cycles,typically the execution stage requires the most resources.

Table 3.8 Activity Immediate Predecessor(s) Time (weeks) A \@cdots 3 B \@cdots 4 C A,B 5 D A 6 E 4 F , 2 -Using Table 3.8,what is the critical path of the above project?

________ is a measure of the probability and consequence of not reaching a defined project goal.

Total slack can be calculated as the difference between the latest start (LS)and earliest start (ES),or by the difference between the latest finish (LF)and earliest finish (EF).

Identify and briefly explain the four categories of project risks.

When using the beta probability distribution to estimate activity times,which of the following statements is TRUE?

A project is an interrelated set of activities that has a definite starting and ending point.

Network methods let project managers analyze the time and cost implications of resource trade-offs.

Creating Customer Value through Operations

Supply Chain Management

Process Configuration

Capacity

Inventory Management

Quality and Process Improvement

Lean Systems

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Decision Making

Financial Analysis

Work Measurement

Learning Curve Analysis

Computer-Integrated Manufacturing

Acceptance Sampling Plans

Simulation

Special Inventory Models

Linear Programming

Waiting Lines

Filters