Exam 5: Projects

A company must perform a maintenance project consisting of seven activities. The activities, their predecessors, and their respective time estimates are presented below: Using CPM, what is the Latest Finish Time for the last activity in this project (i.e., the total time to complete the project)?

You have just performed a CPM analysis and have found that more than one path through the project network has zero slack values. What can you conclude?

A company must perform a maintenance project consisting of seven activities. The activities, their predecessors, and their respective time estimates are presented below: Using CPM, which activities make up the critical path?

Complex projects are often subdivided into a series of tasks that are typically configured to be not longer than several months in duration.

The Gantt chart is an example of a project control chart.

Which of the following is a graphic project report used in project management?

You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs.

The activity direct costs associated with a project might include giving workers overtime to complete a project in less than the expected time.

When reducing the planned duration of a project using the Time-Cost CPM model we select the activity to crash by determining the cost of each alternative and selecting the one whose cost is the greatest.

In CPM analysis it is generally expected that the relationship between activity direct costs and project indirect costs will be which of the following?

You have collected the data for a Time-Cost CPM Scheduling model analysis. The time is in days and the project "direct costs" are given below. The indirect costs for the project are determined on a daily duration basis. If the project lasts 16 days the total indirect costs are $400, 15 days they will be $250, 14 days they will be $200, and 13 days they will be $100. If you crash this project by one day what is the total (i.e., direct and indirect) project cost?

PERT is an abbreviation for which of the following methodologies?

Earned value management (EVM) is a technique for measuring project progress in an objective manner.

Below are the data for a Time-Cost CPM Scheduling analysis. The time is in days and the costs include both direct and indirect costs. If you crash this project to reduce the total time by four days, what is the total time of the project and total cost?

One of the advantages of a functional project organizational structure is that a team member can work on several projects.

What does "EVM" stand for?

A project may be defined as a series of related jobs directed toward some major output and requiring a significant period of time to perform.

You have collected the data for a Time-Cost CPM Scheduling model analysis. The time is in days and the project "direct costs" are given below. The indirect costs for the project are determined on a daily duration basis. If the project lasts 16 days the total indirect costs are $400, 15 days they will be $250, 14 days they will be $200, and 13 days they will be $100. At what day do we achieve the lowest total project cost (i.e., direct plus indirect costs)?

An event unit package is a subdivision of a project.

The critical path of activities in a project is the sequence of activities that form the shortest chain in a project network of activities.