Exam 5: Scheduling the Project

Contrast the traditional statistical approach to calculating the probability of completing a project by a specified time with the simulation approach.

The cost to complete a project is driven in large part by the time required to complete the project.

What is activity slack?

Standard Pert/CPM networks can be used to resolve probabilistic concerns.

Milestones cannot be identified on a Gantt chart.

Which type of precedence diagramming convention is the following: Activity 11 cannot be completed before 7 days after the start of Activity 10.

Which of the following terms is most closely associated with a task required by the project?

It is easiest to see lead and lag time in a project task on a PERT/CPM networks.

A series of connected activities (or intermediate events) between any two events in a network.

The tasks of project planning, project budgeting, and project scheduling are largely separable from one another.

Organ Bennett Inc., a public relations firm, is working on a project to improve the brand image of Sizil, a client firm, over a period of a year. The project requires Organ Bennett to organize a press conference to announce the launch of Sizil's new product. The project members need to invite reporters for the same. In the context of the language of the Program Evaluation and Review Technique (PERT) and the Critical Path Method (CPM), inviting reporters is most likely a(n) _____.

When two or more paths through a network join, even at the end of the network, paths that have little slack and/or high variance may become critical simply by chance.

Events in a project consume no resources or time.

A disadvantage of using beta distribution to approximate activity times is that it is generally less flexible than the normal distribution.

AON and AOA networks can both be used to depict any project network.

A project schedule is a project action plan converted into a timetable.

The difference between EST and LFT is called slack.

Ben is part of a new project in his company. He is asked to complete a task within two days, but he is only able to finish it in three days. Since the task assigned to him is noncritical in nature, the extra day taken by Ben does not cause a delay in the project. In this scenario, the additional day taken by Ben is known as _____.

The difference between LST and LFT is called slack.

Consider a project network that begins with activity X and is followed by activity Y. The earliest start time for activity X is 5 days and it will take 3 days to be completed. The earliest start time for activity Y is 12 days. Given this information, activity X has _____ of free slack.