Deck 11: Controlling Project Cost, Time, and Quality

Question 1

As a project is crashed from its normal duration to its optimal duration, ????.

A) The project's indirect cost is reduced
B) The project's direct cost is reduced
C) The duration of the project increases
D) Additional float is created
E) None of the above

Answer 1

The project's indirect cost is reduced

Question 2

The ????schedule is used as a primary performance model in the derivation of all control curves.

A) Bar chart
B) CPM
C) Matrix
D) Horse blanket
E) All of the above

Answer 2

CPM

Question 3

Cost control can be approached as an application of Pareto's law, which states that ???? percent of the project's outcome is determined by ????percent of the included elements .

A) $50 ; 50$
B) $80 ; 20$
C) $25 ; 75$
D) $50 ; 60$
E) $100 ; 25$

Answer 3

$80 ; 20$

Question 4

Cost control is a form of cost accounting.

Question 5

A project control system should isolate and control in detail those elements with the greatest impact on final cost.

Question 6

How can a project manager compress a schedule?

A) Revise the schedules logic
B) Use overtime
C) Use substitute materials or equipment
D) Increase crew size
E) All of the above

Question 7

Value engineering is a creative, organized approach whose objective is to minimize cost and/or maximize performance of a facility or system.

Question 8

Which curve listed would best serve as the basis of a contractor's accounts receivable (A/R)?

A) Cost
B) Production
C) Schedule of values
D) Income
E) Cash requirements

Question 9

The purpose(s) of front-end loading and weighting is (are) to ???

A) Offset project mobilization costs
B) Offset owner retainage
C) Improve contractor cash flow
D) All of the above

Question 10

As quality expenditures increase, the value to the owner increases, but at a decreasing rate.