Exam 8: Managing Projects

The network diagram is a planning method that is designed to depict the relationships between activities.

Which of the following statements concerning the critical path in project network is FALSE?

The critical path method (CPM)is a network planning method initially developed as a means to schedule maintenance shutdowns at chemical plants.

Table 3.5 -Using Table 3.5,what is the critical path of this project?

Activity slack is the maximum length of time that an activity can be delayed without delaying the entire project.

In monitoring a project,negative slack indicates how much an activity has been pushed beyond its planned latest start dates.

What options do project managers have to alleviate resource problems? Briefly describe each method.

What are the five steps involved in planning a project?

One of duties of the project manager is to make sure that issues that have been raised during the project actually get resolved in a timely fashion.

Table 3.1 Time (weeks) -Using Table 3.1,if the expected times for activities A,G,and H increased by 2,3,and 4 weeks,respectively,by how many weeks would the project's earliest expected time of completion increase?

The probability that a project will be completed by its earliest expected completion date is

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.