Exam 7: Project Management

A plan that identifies key threats to a project and prescribes ways to circumvent them is called a:

The earliest start time is never the same as the latest start time.

Phoebe B. Beebee is constructing a canal for the annual canoe races and has identified eleven activities that are required to complete this important project. She calculated early and late start times and early and late finish times but spilled coffee all over her printout. Use the remaining information to reconstruct the table for Phoebe B. Beebee and her new canoe canal.

A company could add $10,000 per week in revenues if the project depicted in Table 7.10 could be shortened. Table 7.10 Four possible options exist to crash activities: crash A by one week at a cost of $6,000; crash C by two weeks at a cost of $15,000; crash E by one week at a cost of $2,000; and crash I one week at a cost of $7,000. What is the maximum amount of additional profit that can be made by crashing an option (or options)?

The following table contains a list of activities, with early- and late-start and finish times and crash costs for the network shown in the figure. All start and finish times and crash costs are on a per-week basis. Each activity can be reduced by one week at the most. a. Determine the uncrashed activity lengths for activities A though K. b. Determine the minimum completion cost for this project if each week carries a fixed cost of $1,000.

In addition to finishing the work, the project close out phase should include recording some lessons-learned to carry forward to future projects.

Table 7.5 -Using Table 7.5, what is the latest start time for activity E?

Table 7.9 -Using Table 7.9, if the project's normal earliest completion time is to be reduced by two weeks, what is the minimum additional cost that will be incurred in achieving this two-week reduction?

The ________ is a statement of all work that has to be completed.

Projects often cut across organizational lines.

________ 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.

Which of these steps comes first in the project life cycle?

Table 7.8 -Using Table 7.8, what is the minimum completion time for this project after crashing?

Table 7.6 -Using Table 7.6, what is the latest start time for activity A?

Figure 7.1 -For the network shown in Fig. 7.1, what is the project duration?

Activity slack is defined as:

Table 7.13 All activity times for the project are in weeks. -Using Table 7.13, what is the probability that the project will be completed in 65 or fewer weeks?

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

A pure project organizational structure houses the project in a specific functional area.

Table 7.3 -Using Table 7.3, which activity is on the critical path?