Question 1

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

Accepted Answer

The methods are resource leveling, resou

Question 2

________ is an attempt to reduce the peaks and valleys in resource needs by shifting the schedules of conflicting activities within their earliest and latest start dates.

Accepted Answer

The answer of ________ is an attempt to reduce the...

Question 3

Projects cannot have more than one critical path.

Accepted Answer

A) True 
 B)False

Question 4

Explain what the close out phase of the project life cycle involves.

Accepted Answer

The project close out phase re

Question 5

Following are four sets of most optimistic, most likely, and most pessimistic times (in weeks) for an activity. Which one of the four sets will have a mean estimated time equal to the most likely time?

Accepted Answer

A)  1, 9, 9 
B)  1, 1, 9 
C)  1, 5, 5 
D)  1, 5, 9 
A)  1, 9, 9 
B)  1, 1, 9 
C)  1, 5, 5 
D)  1, 5, 9

Question 6

In a network diagram, an "activity"

Accepted Answer

A)  is the smallest unit of work effort consuming both time and resources that a project manager can schedule and control. 
B)  must always have a single, precise estimate for the time duration. 
C)  should always be something the company has had experience with. 
D)  is the largest unit of work effort consuming both time and resources that a project manager can Schedule and control. 
A)  is the smallest unit of work effort consuming both time and resources that a project manager can schedule and control. 
B)  must always have a single, precise estimate for the time duration. 
C)  should always be something the company has had experience with. 
D)  is the largest unit of work effort consuming both time and resources that a project manager can Schedule and control.

Question 7

Describe the four steps followed to determine the minimum- cost schedule for a project that is planned based on the critical path method (CPM).

Accepted Answer

Step 1. Determine the project's critical

Question 8

The ________ cost refers to the additional cost associated with reducing an activity time in a project network.

Accepted Answer

The answer of The ________ cost refers to the additional...

Question 9

Risk is a measure of the probability and consequences of not reaching a defined project goal.

Accepted Answer

A) True 
 B)False

Question 10

Describe four stages of development process.

Accepted Answer

1. Design: The design stage is critical,

Question 11

If one activity along the critical path is delayed, the entire project will be delayed.

Accepted Answer

A) True 
 B)False

Question 12

________ is the shortest time in which an activity can be completed, if all goes exceptionally well.

Accepted Answer

The answer of ________ is the shortest time in which...

Question 13

To calculate the probability of completing a project by a certain date,

Accepted Answer

A)  the variance of the distribution of project completion times is taken to be one- sixth the difference between the latest finish time and the earliest finish time of the last activity in the project. 
B)  we assume that the activity durations are independent of each other so that the normal distribution can be used. 
C)  the expected completion time of the project is taken to be the sum of the activity times on the shortest path. 
D)  we only need the parameters of the beta distribution for the finish node of the diagram. 
A)  the variance of the distribution of project completion times is taken to be one- sixth the difference between the latest finish time and the earliest finish time of the last activity in the project. 
B)  we assume that the activity durations are independent of each other so that the normal distribution can be used. 
C)  the expected completion time of the project is taken to be the sum of the activity times on the shortest path. 
D)  we only need the parameters of the beta distribution for the finish node of the diagram.

Question 14

Why do managers want to know the slack of activities?

Accepted Answer

Managers monitor activity slack reports

Question 15

Assuming a beta distribution is being used, if the most optimistic time for an activity decreases by 12 days, what will happen to the expected time for that activity?

Accepted Answer

A)  It will decrease by 12 days. 
B)  It will increase by 2 days. 
C)  It will decrease by 2 days. 
D)  It will remain the same. 
A)  It will decrease by 12 days. 
B)  It will increase by 2 days. 
C)  It will decrease by 2 days. 
D)  It will remain the same.

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Why is knowing the critical path in a project important?

Accepted Answer

The critical path of activitie

Question 18

All activities on the critical path must be crashed, or expedited, in order to reduce the overall project completion time.

Accepted Answer

A) True 
 B)False

Question 19

If a project has multiple critical paths, which of the following variances should be used in analyzing project completion time probabilities?

Accepted Answer

A)  the sum of the variances for all critical paths 
B)  the critical path with the smallest variance 
C)  the average variance of the critical paths 
D)  the critical path with the largest variance 
A)  the sum of the variances for all critical paths 
B)  the critical path with the smallest variance 
C)  the average variance of the critical paths 
D)  the critical path with the largest variance

Question 20

When using the beta distribution for estimating activity times,

Accepted Answer

A)  the most likely time estimate can be positioned anywhere between the optimistic and pessimistic time estimates. 
B)  the most likely time estimate becomes the mean of the distribution. 
C)  we assume that the standard deviation is one- third the range between the optimistic and pessimistic time estimates. 
D)  an advantage is that the mode of the distribution is always equidistant from the end points of the distribution. 
A)  the most likely time estimate can be positioned anywhere between the optimistic and pessimistic time estimates. 
B)  the most likely time estimate becomes the mean of the distribution. 
C)  we assume that the standard deviation is one- third the range between the optimistic and pessimistic time estimates. 
D)  an advantage is that the mode of the distribution is always equidistant from the end points of the distribution.

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

________ is an attempt to reduce the peaks and valleys in resource needs by shifting the schedules of conflicting activities within their earliest and latest start dates.

Projects cannot have more than one critical path.

Explain what the close out phase of the project life cycle involves.

Following are four sets of most optimistic, most likely, and most pessimistic times (in weeks) for an activity. Which one of the four sets will have a mean estimated time equal to the most likely time?

In a network diagram, an "activity"

Describe the four steps followed to determine the minimum- cost schedule for a project that is planned based on the critical path method (CPM).

The ________ cost refers to the additional cost associated with reducing an activity time in a project network.

Risk is a measure of the probability and consequences of not reaching a defined project goal.

Describe four stages of development process.

If one activity along the critical path is delayed, the entire project will be delayed.

________ is the shortest time in which an activity can be completed, if all goes exceptionally well.

To calculate the probability of completing a project by a certain date,

Why do managers want to know the slack of activities?

Assuming a beta distribution is being used, if the most optimistic time for an activity decreases by 12 days, what will happen to the expected time for that activity?

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

Why is knowing the critical path in a project important?

All activities on the critical path must be crashed, or expedited, in order to reduce the overall project completion time.

If a project has multiple critical paths, which of the following variances should be used in analyzing project completion time probabilities?

When using the beta distribution for estimating activity times,

Creating Customer Value

Supply Chain Management

Supply Chain Sustainability and Humanitarian Logistics

Process Configuration

Capacity

Waiting Lines

Inventory Management

Quality and Process Improvement

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Filters

Exam 9: Lean Systems

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

________ is an attempt to reduce the peaks and valleys in resource needs by shifting the schedules of conflicting activities within their earliest and latest start dates.

Projects cannot have more than one critical path.

Explain what the close out phase of the project life cycle involves.

Following are four sets of most optimistic, most likely, and most pessimistic times (in weeks) for an activity. Which one of the four sets will have a mean estimated time equal to the most likely time?

In a network diagram, an "activity"

Describe the four steps followed to determine the minimum- cost schedule for a project that is planned based on the critical path method (CPM).

The ________ cost refers to the additional cost associated with reducing an activity time in a project network.

Risk is a measure of the probability and consequences of not reaching a defined project goal.

Describe four stages of development process.

If one activity along the critical path is delayed, the entire project will be delayed.

________ is the shortest time in which an activity can be completed, if all goes exceptionally well.

To calculate the probability of completing a project by a certain date,

Why do managers want to know the slack of activities?

Assuming a beta distribution is being used, if the most optimistic time for an activity decreases by 12 days, what will happen to the expected time for that activity?

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

Why is knowing the critical path in a project important?

All activities on the critical path must be crashed, or expedited, in order to reduce the overall project completion time.

If a project has multiple critical paths, which of the following variances should be used in analyzing project completion time probabilities?

When using the beta distribution for estimating activity times,

Creating Customer Value

Supply Chain Management

Supply Chain Sustainability and Humanitarian Logistics

Process Configuration

Capacity

Waiting Lines

Inventory Management

Quality and Process Improvement

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Filters