Exam 7: Project Management

Table 7.14 You are responsible for managing a project with the following activities (times are given in weeks). -Using Table 7.14, which activity has the largest standard deviation, and how large is that standard deviation?

Consider the activities, durations, and predecessor relationships in the following network. Draw the network and answer the questions that follow. a. What is the expected time for activity B? b. What is the variance for activity B? c. Based on the calculation of estimated times, what is the critical path? d. What is the estimated time of the critical path? e. What is the activity variance along the critical path? f. What is the probability of completion of the project before week 42?

Figure 7.1 -For the network shown in Fig. 7.1, which of the following is the critical path?

Scope creep is one of the primary causes of project failure.

Figure to accompany Table 7.7 Table 7.7 -What is the crashing cost per week for activity A in Table 7.7?

A(n) ________ identifies the key threats to a project and prescribes ways to work around them.

A critical path is any sequence of activities between a project's start and finish.

A project manager hires a few new coders to help speed up the new software project and deliver the package on time to an important client. The manager has engaged in:

A risk-management plan contains all identified risks to a project plus the ways that they can be circumvented.

What are the primary responsibilities of a Project Manager? Briefly describe these responsibilities for a project manager whose team is purchasing a new machine and installing it in a manufacturing process.

The ________ is the sequence of activities between a project's start and finish that takes the longest time to complete.

Table 7.8 -Using Table 7.8, what is the activity with the greatest amount of slack?

Activity times for a project are estimated by all except which of the following methods?

Table 7.8 -Using Table 7.8, what is the earliest possible completion time for activity E after crashing?

Table 7.9 -Using Table 7.9, if the project completion time has to be reduced by one week, which of the following activities should be crashed to minimize the extra cost of earlier completion?

Table 7.4 -Using Table 7.4, what is the slack associated with activity B?

A project is currently scheduled to be finished on its normal earliest completion date. The project manager has the opportunity to earn a bonus if the project can be completed three weeks ahead of schedule. The increase in project direct costs related to crashing activities would be $40,000. Also, project indirect costs are $15,000 per week. What is the smallest bonus that the project manager should accept if he or she wants to avoid increasing overall project costs?

Explain the importance of the critical path in project management.

Figure 7.2 -Which one of the following statements regarding Figure 7.2 is True?

Table 7.9 -Using Table 7.9, what is the earliest completion time of this project if normal times are used for all activities?