Question 1

Define the process of project management.

Accepted Answer

Project management is concerned with pla

Question 2

The required resources for an engineering project are defined in the

Accepted Answer

A) planning stage. 
B) execution stage. 
C) monitoring and control stage. 
D) initiation stage. 
E) closure stage. 
A) planning stage. 
B) execution stage. 
C) monitoring and control stage. 
D) initiation stage. 
E) closure stage.

Question 3

What does `PERT' stand for?

Accepted Answer

A) Probable Engineering Return Tool 
B) Projected Engineering Reaction Time 
C) Professional Engineering Resource Tool 
D) Profit Evaluation and Re-evaluation Tool 
E) Project Evaluation and Review Technique 
A) Probable Engineering Return Tool 
B) Projected Engineering Reaction Time 
C) Professional Engineering Resource Tool 
D) Profit Evaluation and Re-evaluation Tool 
E) Project Evaluation and Review Technique

Question 4

The AON diagram shown represents a project. If the estimated times for each activity are as shown in the accompanying table, how much slack is there in the completion of Activity 5?

Accepted Answer

A) There is no slack, because Activity 5 is on the critical path. 
B) 1 day 
C) 2 days 
D) 3 days 
E) 4 days 
A) There is no slack, because Activity 5 is on the critical path. 
B) 1 day 
C) 2 days 
D) 3 days 
E) 4 days

Question 5

In order to calculate the crash cost per unit of time, a project manager has to know

Accepted Answer

A) the project's costs, benefits and service life. 
B) the project's normal and crash costs as well as normal and crash time. 
C) the project's equivalent annual costs and crash time. 
D) the project's economic life and its crash costs. 
E) the project's crash and normal time as well as the project's costs and benefits. 
A) the project's costs, benefits and service life. 
B) the project's normal and crash costs as well as normal and crash time. 
C) the project's equivalent annual costs and crash time. 
D) the project's economic life and its crash costs. 
E) the project's crash and normal time as well as the project's costs and benefits.

Question 6

What is the difference between a diagram representation of the WBS and indented list representation?

Accepted Answer

A) A diagram representation appears as a 2-dimensional graph while an indented list is a sequence of actions. 
B) A diagram representation appears as an organizational chart while an indented list is associated with evaluation of costs and benefits of a project. 
C) A diagram representation appears as an organizational chart while an indented list is a numbered list of a project's layers. 
D) A diagram representation appears as a three-dimensional graph of a project's layers while an indented list is a two-dimensional list of the project's costs and benefits. 
E) A diagram representation appears as a cash-flow diagram while an indented list is a numbered list of a project's layers. 
A) A diagram representation appears as a 2-dimensional graph while an indented list is a sequence of actions. 
B) A diagram representation appears as an organizational chart while an indented list is associated with evaluation of costs and benefits of a project. 
C) A diagram representation appears as an organizational chart while an indented list is a numbered list of a project's layers. 
D) A diagram representation appears as a three-dimensional graph of a project's layers while an indented list is a two-dimensional list of the project's costs and benefits. 
E) A diagram representation appears as a cash-flow diagram while an indented list is a numbered list of a project's layers.

Question 7

Finding ES, EF, LS, and LF requires

Accepted Answer

A) one pass through the network. 
B) two passes through the network. 
C) three passes though the network. 
D) four passes through the network. 
E) five passes through the network. 
A) one pass through the network. 
B) two passes through the network. 
C) three passes though the network. 
D) four passes through the network. 
E) five passes through the network.

Question 8

What is the Work Breakdown Structure (WBS)?

Accepted Answer

It is an organized and structured collec

Question 9

The lifecycle of a project is given by the following sequence of stages

Accepted Answer

A) initiation-planning-execution-monitoring and control-closure. 
B) planning-initiation-execution-monitoring and control-closure. 
C) initiation-planning-monitoring and control-execution-closure. 
D) initiation-evaluation-execution-monitoring and control-closure. 
E) initiation-planning-execution-evaluation of cash flows-closure. 
A) initiation-planning-execution-monitoring and control-closure. 
B) planning-initiation-execution-monitoring and control-closure. 
C) initiation-planning-monitoring and control-execution-closure. 
D) initiation-evaluation-execution-monitoring and control-closure. 
E) initiation-planning-execution-evaluation of cash flows-closure.

Question 10

What does "WBS" stand for?

Accepted Answer

A) Weighted Brokerage System 
B) Work Bill of Sale 
C) Work Breakdown Structure 
D) World Banking System 
E) Whittaker's Bonding Scheme 
A) Weighted Brokerage System 
B) Work Bill of Sale 
C) Work Breakdown Structure 
D) World Banking System 
E) Whittaker's Bonding Scheme

Question 11

Explain what the closure stage of a project's lifecycle involves.

Accepted Answer

This is the stage at which the goals def

Question 12

A feasibility study is associated with the ________ stage of a project lifecycle.

Accepted Answer

A) initiation 
B) planning 
C) monitoring and control 
D) execution 
E) closure 
A) initiation 
B) planning 
C) monitoring and control 
D) execution 
E) closure

Question 13

AON stands for

Accepted Answer

A) activity of a network. 
B) activity on a node. 
C) association of networks. 
D) assembled and organized network. 
E) activity of organized network. 
A) activity of a network. 
B) activity on a node. 
C) association of networks. 
D) assembled and organized network. 
E) activity of organized network.

Question 14

What are the five stages of a project's lifecycle?

Accepted Answer

The five stages are (i)initiat

Question 15

The critical path is

Accepted Answer

A) a sequence of large cash outflows. 
B) a sequence of large cash inflows. 
C) the set of extremely large cash outflows at the very beginning of a project's lifecycle. 
D) the set of activities that must be completed on time in order to keep the project on schedule. 
E) the set of extremely large cash outflows at the very end of a project's lifecycle. 
A) a sequence of large cash outflows. 
B) a sequence of large cash inflows. 
C) the set of extremely large cash outflows at the very beginning of a project's lifecycle. 
D) the set of activities that must be completed on time in order to keep the project on schedule. 
E) the set of extremely large cash outflows at the very end of a project's lifecycle.

Question 16

Suppose that a feasibility study done for a project by a consulting company brought the following results: PW (Benefits)= $13 million
PW (Costs)= $10 million
It was mentioned in the feasibility study that there is a risk of the project's loss due to potential high inflation. How should the project manager react to these results?

Accepted Answer

A) Terminate the project right away. 
B) Terminate the project at initiation stage. 
C) Proceed with the project to the planning stage during which the risk of inflation should be addressed. 
D) Use Monte Carlo simulation to address the risk. 
E) Look for a second opinion on feasibility study. 
A) Terminate the project right away. 
B) Terminate the project at initiation stage. 
C) Proceed with the project to the planning stage during which the risk of inflation should be addressed. 
D) Use Monte Carlo simulation to address the risk. 
E) Look for a second opinion on feasibility study.

Question 17

The nature and scope of a project are defined in the

Accepted Answer

A) planning stage. 
B) execution stage. 
C) monitoring and control stage. 
D) initiation stage. 
E) closure stage. 
A) planning stage. 
B) execution stage. 
C) monitoring and control stage. 
D) initiation stage. 
E) closure stage.

Question 18

Which of the following statements correctly describes precedence among project management tools?

Accepted Answer

A) A Gantt Chart precedes WBS. 
B) CPM networks precede WBS. 
C) CN networks precede WBS. 
D) WBS precedes a Gantt Chart. 
E) WBS precedes BCA. 
A) A Gantt Chart precedes WBS. 
B) CPM networks precede WBS. 
C) CN networks precede WBS. 
D) WBS precedes a Gantt Chart. 
E) WBS precedes BCA.

Question 19

What is the crash cost of an activity and what information is needed to define it?

Accepted Answer

Crashing an activity means reducing the

Question 20

Identify some similarities and differences between the CPM and PERT project management tools.

Accepted Answer

Both tools are based on a network repres

Define the process of project management.

The required resources for an engineering project are defined in the

What does `PERT' stand for?

The AON diagram shown represents a project. If the estimated times for each activity are as shown in the accompanying table, how much slack is there in the completion of Activity 5?

In order to calculate the crash cost per unit of time, a project manager has to know

What is the difference between a diagram representation of the WBS and indented list representation?

Finding ES, EF, LS, and LF requires

What is the Work Breakdown Structure (WBS)?

The lifecycle of a project is given by the following sequence of stages

What does "WBS" stand for?

Explain what the closure stage of a project's lifecycle involves.

A feasibility study is associated with the ________ stage of a project lifecycle.

AON stands for

What are the five stages of a project's lifecycle?

The critical path is

The nature and scope of a project are defined in the

Which of the following statements correctly describes precedence among project management tools?

What is the crash cost of an activity and what information is needed to define it?

Identify some similarities and differences between the CPM and PERT project management tools.

Engineering Decision Making

Time Value of Money

Cash Flow Analysis

Comparison Methods: Part I

Comparison Methods: Part Ii

Financial Accounting and Business Plans

Replacement Decisions

Taxes

Inflation

Public Sector Decision Making

Dealing With Uncertainty and Risk

Filters

Exam 11: Project Management

Define the process of project management.

The required resources for an engineering project are defined in the

What does `PERT' stand for?

The AON diagram shown represents a project. If the estimated times for each activity are as shown in the accompanying table, how much slack is there in the completion of Activity 5?

In order to calculate the crash cost per unit of time, a project manager has to know

What is the difference between a diagram representation of the WBS and indented list representation?

Finding ES, EF, LS, and LF requires

What is the Work Breakdown Structure (WBS)?

The lifecycle of a project is given by the following sequence of stages

What does "WBS" stand for?

Explain what the closure stage of a project's lifecycle involves.

A feasibility study is associated with the ________ stage of a project lifecycle.

AON stands for

What are the five stages of a project's lifecycle?

The critical path is

The nature and scope of a project are defined in the

Which of the following statements correctly describes precedence among project management tools?

What is the crash cost of an activity and what information is needed to define it?

Identify some similarities and differences between the CPM and PERT project management tools.

Engineering Decision Making

Time Value of Money

Cash Flow Analysis

Comparison Methods: Part I

Comparison Methods: Part Ii

Financial Accounting and Business Plans

Replacement Decisions

Taxes

Inflation

Public Sector Decision Making

Dealing With Uncertainty and Risk

Filters