Exam 11: Project Management

Draw the PERT network associated with the following activities.

Which of these statements is best?

Table 11-6 -Which activities are part of Table 11-6's critical path?

Figure 11-1 -Given the network in Figure 11-1, the time to complete those activities on the critical path is expected to be

PERT and CPM are quantitative analysis tools designed to schedule and control large projects.

Table 11-1 The following represents a project with known activity times.All times are in weeks. -According to Table 11-1, compute the slack time for activity D.

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.What is the critical path?

The two common techniques for drawing PERT networks are

Activity B of a project has a budgeted cost of $50,000 and is 30% complete.The actual cost of the activity is $12,000.What is the activity difference?

In PERT analysis, the probability of the optimistic time occurring should be on the order 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 earliest this project can be completed and what would the overall project cost be?

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

PERT assumes that the total completion time of a project follows which of the following probability distributions?

One PERT/COST assumption is that money is spent at a constant rate over the time taken to complete an activity.

Your company is considering submitting a bid on a major project.You determine that the expected completion time is 150 weeks and the standard deviation is 10 weeks.It is assumed that the normal distribution applies.You wish to set the due date for the project such that there is a 95 percent chance that the project will be finished by this time.What due date should be set?

Figure 11-1 -Given the network shown in Figure 11-1, assume that completion of A is delayed by two days.What other activities are impacted?

Given an activity's optimistic, most likely, and pessimistic time estimates of 4, 12, and 18 days respectively, compute the PERT variance for this activity.

An IT project requires 6 activities.The table below displays the expected time and budgeted cost for each activity. Develop a budget for the 15 weeks of the project using LS times.

Table 11-3 -According to Table 11-3, there are five activities in a PERT project.If the normal distribution were used to find the probability of finishing this project in 24 weeks or fewer, what mean and variance would be used?

Table 11-2 The following represents a project with four activities.All times are in weeks. -According to the data in Table 11-2, what is the critical path?