Exam 18: Project Management

A Gantt chart is a useful tool for allocating limited resources among project activities.

With the Activity-On-Node (AON) network, the nodes define the precedence relationships and the arcs define the work activities.

Which step in the project management process would involve developing alternative plans in anticipation of problems that might arise?

A company wants to develop a project using PERT to modify one of their products which has poor sales.They have determined the following activities, precedence relationships and time estimates in days for the project: a.What is the expected duration for activity a? b.What is the variance for activity d? c.How many paths are there in the network? d.What is the earliest start (ES) time for activity e? e.What is the slack in days for activity b? f.What is the critical path? g.What is the duration of the critical path in days? h.What is the standard deviation of the critical path? i.What is the probability that the project will take longer than 28 weeks to complete?

The following network shows all the major activities on the circles (nodes).Each node contains time estimates in weeks. Complete the following table.

Which is incorrect regarding the critical path?

The county government has decided to redo the street you live on and plans to block the street off which causes you and your neighbor's considerable inconvenience.The project has three parallel paths defined as follows: (i) path A-B-C-H to install street lights and electrical wiring that takes 16 days, (ii) path A-D-E-H to install sidewalks with handicap capabilities that takes 22 days, and (iii) path A-F-G-H to repave the street including storm drains that takes 30 days.Which one of the following statements is true?

Consider the project network and data shown below: a.Determine the critical path. b.If management wants the project done in one less month, which activity should they crash?

Describe how a project fits into each of the three common organizational structures.

We should not crash activities on the critical path.

List at least six principal factors (contributors) to project success.

A manufacturing company wants to accelerate a project it has underway for a new product in order to beat their competitors to market.They used CPM to develop the project which has the following activities, durations (in weeks), costs (in dollars), and precedence relationships: a.How many paths are in the network? b.What is the latest finish (LF) time for activity g? c.What is the slack in weeks for activity c? d.What is the critical path for this project? e.What is the duration of the critical path in weeks? f.What activity should be crashed first in order to accelerate the project? g.What is the final project duration in weeks assuming it is crashed as far as possible? h.What is total cost to crash the project as far as possible?

Which of the following is not a stage in the project life cycle?

Strong leadership is an impediment to project management success because of the team-based nature of most projects.

A slack of (-2) means the project is ahead of schedule by two time periods.

To compute the critical path, we assign all nodes in the network an earliest starting time of zero.

Which statement is true regarding activities not on the critical path?

The Critical Path Method (CPM) allows for an evaluation of uncertainty in project completion times.

A company has developed a project using CPM but is interested in accelerating it if possible.The project has the following activities, durations (in weeks), costs, and precedence relationships: a.How many paths are in the network? b.What is the earliest finish (EF) time for activity f? c.What is the slack in weeks for activity "c"? d.What is the critical path? e.What is the duration of the critical path in weeks? f.What activity should be crashed first to accelerate the project? g.What is the final duration of the fully crashed project? h.What is the total crashing cost for the project?

Explain the stages of the project life cycle.