Question 1

Which of the following does NOT correctly pair the terminology used in the earned value management (EVM)method with its description?

Accepted Answer

A) planned value: a cost estimate of the resources used across the project's life cycle 
B) earned value: the value of the work actually performed to date 
C) actual cost of the work performed: the cumulative total cost of completing the project's work packages 
D) budgeted cost at completion: the total budget for a project at its completion 
A) planned value: a cost estimate of the resources used across the project's life cycle 
B) earned value: the value of the work actually performed to date 
C) actual cost of the work performed: the cumulative total cost of completing the project's work packages 
D) budgeted cost at completion: the total budget for a project at its completion A

Question 2

If the most optimistic and pessimistic times for a task are 3 and 15 days respectively,then the variance for the duration of the activity is ______.

Accepted Answer

A) 3.00 
B) 4.00 
C) 5.00 
D) 6.00 
A) 3.00 
B) 4.00 
C) 5.00 
D) 6.00 B

Question 3

If the most optimistic and pessimistic times for a task are 3 and 11 days respectively,then the variance for the duration of the activity ______.

Accepted Answer

A) = (3 - 11)/ 6)raised to 2 
B) = (11 - 3)/ 6)raised to 2 
C) = (11 - 3)/ 3)raised to 2 
D) = (3 - 11)/ 3)raised to 2 
A) = (3 - 11)/ 6)raised to 2 
B) = (11 - 3)/ 6)raised to 2 
C) = (11 - 3)/ 3)raised to 2 
D) = (3 - 11)/ 3)raised to 2 B

Question 4

Find the area under the normal curve between the Z values 0.65 and 2.07.

Accepted Answer

A) 23.86% 
B) 18.11% 
C) 29.72% 
D) 31.44% 
A) 23.86% 
B) 18.11% 
C) 29.72% 
D) 31.44%

Question 5

If the standard deviation is 3.4,the Z value is 1.95,and the expected date of completion is 38 months,then the due date for project completion is ______.

Accepted Answer

A) 44.63 months 
B) 62.78 months 
C) 32.55 months 
D) 24.50 months 
A) 44.63 months 
B) 62.78 months 
C) 32.55 months 
D) 24.50 months

Question 6

Find the area under the normal curve between the Z values 0.78 and 1.63.

Accepted Answer

A) 16.61% 
B) 50.12% 
C) 8.43% 
D) 21.44% 
A) 16.61% 
B) 50.12% 
C) 8.43% 
D) 21.44%

Question 7

If the standard deviation is 6.5,the Z value is 1.5,and the expected date of completion is 15 weeks,then the due date for project completion is ______.

Accepted Answer

A) 24.75 weeks 
B) 22.75 weeks 
C) 29.75 weeks 
D) 14.75 weeks 
A) 24.75 weeks 
B) 22.75 weeks 
C) 29.75 weeks 
D) 14.75 weeks

Question 8

The formula for the variance of the duration of an activity is ______.

Accepted Answer

A) the square root of [1/6(b - a)] 
B) [1/6(a - b)] raised to the power of 2 
C) [1/6(b - a)] raised to the power of 2 
D) the square root of [1/6(a - b)] 
A) the square root of [1/6(b - a)] 
B) [1/6(a - b)] raised to the power of 2 
C) [1/6(b - a)] raised to the power of 2 
D) the square root of [1/6(a - b)]

Question 9

If the standard deviation is 4.5,the Z value is 1.25,and the expected date of completion is 18 weeks,then the due date for project completion is ______.

Accepted Answer

A) 23.625 weeks 
B) 40.625 weeks 
C) 12.375 weeks 
D) 18.575 weeks 
A) 23.625 weeks 
B) 40.625 weeks 
C) 12.375 weeks 
D) 18.575 weeks

Question 10

If a project has an expected completion time of 15 weeks with a variance of 4 weeks,the probability that the project will be completed in 18 weeks is ______.

Accepted Answer

A) less than 34% 
B) between 44% and 68% 
C) between 69% and 83% 
D) more than 93% 
A) less than 34% 
B) between 44% and 68% 
C) between 69% and 83% 
D) more than 93%

Question 11

Whether we should crash an activity or not depends on ______.

Accepted Answer

A) crashing costs per day 
B) whether the activity is on a critical path 
C) both A and B 
D) neither A nor B 
A) crashing costs per day 
B) whether the activity is on a critical path 
C) both A and B 
D) neither A nor B

Question 12

Which of the following is NOT one of the types of probabilistic estimates used in PERT?

Accepted Answer

A) optimistic 
B) historical 
C) most likely 
D) pessimistic 
A) optimistic 
B) historical 
C) most likely 
D) pessimistic

Question 13

If a project is expected to be completed in 68 days with a project variance of 9 days,what is the probability that the project will be completed within 90 days?

Accepted Answer

A) 85% 
B) 90% 
C) 95% 
D) 100% 
A) 85% 
B) 90% 
C) 95% 
D) 100%

Question 14

If the most optimistic time for completing an activity is 23,the most likely time is 25,and the most pessimistic time is 39,then the estimated time for the activity is ______.

Accepted Answer

A) 27 
B) 39 
C) 42 
D) 17 
A) 27 
B) 39 
C) 42 
D) 17

Question 15

Project overhead costs ______.

Accepted Answer

A) are also known as the "level of effort" 
B) can include a variety of variable costs 
C) both A and B are correct 
D) neither A nor B is correct 
A) are also known as the "level of effort" 
B) can include a variety of variable costs 
C) both A and B are correct 
D) neither A nor B is correct

Question 16

The time-phased budget ______.

Accepted Answer

A) identifies the correct sequencing of tasks 
B) enables the project team to determine when budgeted money is likely to be spent on completion of tasks 
C) both A and B 
D) neither A nor B 
A) identifies the correct sequencing of tasks 
B) enables the project team to determine when budgeted money is likely to be spent on completion of tasks 
C) both A and B 
D) neither A nor B

Question 17

A project's baseline represents ______.

Accepted Answer

A) our best understanding of how the project should progress 
B) how the project actually progresses 
C) the costs actually incurred in a project 
D) the costs budgeted for a project 
A) our best understanding of how the project should progress 
B) how the project actually progresses 
C) the costs actually incurred in a project 
D) the costs budgeted for a project

Question 18

If the most optimistic time for completing an activity is 2,the most likely time is 5,and the most pessimistic time is 8,then the estimated time for the activity is ______.

Accepted Answer

A) 5 
B) 9 
C) 11 
D) 4 
A) 5 
B) 9 
C) 11 
D) 4

Question 19

Find the area under the normal curve between the Z values 0.01 and 2.5.

Accepted Answer

A) 48.98% 
B) 42.32% 
C) 17.33% 
D) 26.53% 
A) 48.98% 
B) 42.32% 
C) 17.33% 
D) 26.53%

Question 20

The formula for the expected duration of an activity under these circumstances is ______.

Accepted Answer

A) (a + 4m + b)/6 
B) (a + 2m + b)/6 
C) (a + 4m + b)/3 
D) (a + 2m + b)/3 
A) (a + 4m + b)/6 
B) (a + 2m + b)/6 
C) (a + 4m + b)/3 
D) (a + 2m + b)/3

Exam 4: Supplement: Project Management

Which of the following does NOT correctly pair the terminology used in the earned value management (EVM)method with its description?

If the most optimistic and pessimistic times for a task are 3 and 15 days respectively,then the variance for the duration of the activity is ______.

If the most optimistic and pessimistic times for a task are 3 and 11 days respectively,then the variance for the duration of the activity ______.

Find the area under the normal curve between the Z values 0.65 and 2.07.

If the standard deviation is 3.4,the Z value is 1.95,and the expected date of completion is 38 months,then the due date for project completion is ______.

Find the area under the normal curve between the Z values 0.78 and 1.63.

If the standard deviation is 6.5,the Z value is 1.5,and the expected date of completion is 15 weeks,then the due date for project completion is ______.

The formula for the variance of the duration of an activity is ______.

If the standard deviation is 4.5,the Z value is 1.25,and the expected date of completion is 18 weeks,then the due date for project completion is ______.

If a project has an expected completion time of 15 weeks with a variance of 4 weeks,the probability that the project will be completed in 18 weeks is ______.

Whether we should crash an activity or not depends on ______.

Which of the following is NOT one of the types of probabilistic estimates used in PERT?

If a project is expected to be completed in 68 days with a project variance of 9 days,what is the probability that the project will be completed within 90 days?

If the most optimistic time for completing an activity is 23,the most likely time is 25,and the most pessimistic time is 39,then the estimated time for the activity is ______.

Project overhead costs ______.

The time-phased budget ______.

A project's baseline represents ______.

If the most optimistic time for completing an activity is 2,the most likely time is 5,and the most pessimistic time is 8,then the estimated time for the activity is ______.

Find the area under the normal curve between the Z values 0.01 and 2.5.

The formula for the expected duration of an activity under these circumstances is ______.

Introduction to Managing Global Operations and Supply Chains

Operations and Supply Chain Strategies

Project Management

Product and Service Innovations

Supplement: Reliability

Managing for Quality

Quality Improvement and Control Tools

Capacity Planning

Supply Chain Design and Location Planning

Process Design and Layout Planning

Supplement: Tools for Analyzing, Designing, and Selecting Processes and Layouts

Supplier Management

Logistics Management

Demand Management and Customer Service

Demand Forecasting Methods

Lean Operations and Supply Chains

Inventory Management

Inventory Control Models

Sales and Operations Planning

Master Scheduling and Material Requirements Planning

Supplement: Capacity Requirements Planning, MRP II, ERP, and DRP

Detailed Scheduling

Linear Programming

The Transportation Models

Waiting Line Models

Simulation

Learning Curves

Decision-Making Tools

Filters