Exam 11: Project Management

Given (Time in weeks): Determine: (a)the critical path. (b)the probability that the project will be completed in 22 weeks.

In a PERT analysis, how is the optimistic time defined?

The expected time in PERT is

The three time estimates employed in PERT are optimistic time, average time, and pessimistic time.

Which of the following is not a decision variable when formulating the project crashing problem as a linear program?

In a PERT network, the earliest (activity)start time is the

Table 11-7 A project manager calculated early and late start and finish times for all activities in her eight-activity project but spilled her energy drink on the paper and the acid in the beverage wiped out some of the table entries.The remaining legible entries are correct. -Consider the project summarized in Table 11-7.Provide all missing information.

Table 11-9 A mad scientist has identified the twelve steps required to complete his "take over the world" rehabilitation.The estimated time in weeks and cost in US dollars appear in the table along with the shortest possible duration for each activity and cost of those expedited activities. -Consider the project summarized in Table 11-9.In addition to the cost of the activities, the mad scientist must rent a menagerie of comfort animals during his program.The menagerie includes a number of animals, plus the feed, along with the services of a shepherd at a cost of $700 per week.What is the duration of the normal completion time and total project cost at that time? What activities should be crashed to minimize the total project cost? What is the new project duration and cost?

The project described by: has a critical path of length of

Table 11-8 A mad scientist has identified the ten steps required to create a race of atomic supermen to complete his plans for world conquest.The estimated time in weeks and cost in US dollars appear in the table along with the shortest possible duration for each activity and cost of those expedited activities.Activities are designated generically as A, B, and so on in order to avoid any copycat projects of this nature. -Consider the project summarized in Table 11-8.Suppose in addition to the costs shown in the table, the mad scientist faces a $2,000 per week opportunity cost of not being in control of the world.These costs are easy to quantify, but it's difficult to stomach not controlling the world when it's just a matter of a few extra dollars.What's the cost of the minimum duration project?

In PERT analysis, how is the pessimistic activity time defined?

Table 11-8 A mad scientist has identified the ten steps required to create a race of atomic supermen to complete his plans for world conquest.The estimated time in weeks and cost in US dollars appear in the table along with the shortest possible duration for each activity and cost of those expedited activities.Activities are designated generically as A, B, and so on in order to avoid any copycat projects of this nature. -Consider the project summarized in Table 11-8.What is the minimum cost project in order to finish in a year? List the activities crashed and the total cost? What is the difference in the total project cost before and after crashing?

PERT is a deterministic analysis tool allowing for precise times of activities within a project.

Given an activity's optimistic, most likely, and pessimistic time estimates of 2, 5, and 14 days respectively, compute the PERT expected activity time for this activity.

Table 11-6 -What is the variance of Table 11-6's critical path?

Before drawing a PERT or CPM network, we must identify all activities and their predecessors.

Which of the following is not a concept associated with CPM?

Gantt charts and PERT diagrams provide the same information, just in different formats.

Through the use of PERT/CPM, astute managers can derive flexibility by identifying noncritical activities and replanning, rescheduling, and reallocating resources such as personnel and finances.

When crashing a project, all critical paths must be shortened by the same amount for activity duration reductions to be cost-effective.