Exam 11: Project Management

Which of the following project management tools is used to organize the work to be done in a project by decomposing the project into successively smaller units?

At what stage of a project's lifecycle can the project manager conclude that the project's goals have been met?

The AON diagram shown represents a project. Normal and crash times, and the associated costs, are shown for each activity in the accompanying table. If it is worth $5 000 a day to reduce the project duration, which activity or activities should be crashed?

As a rule, each project includes a feasibility study. With reference to the five-stage project management lifecycle, where does this feasibility study belong?

The AON diagram shown represents a project. If the estimated times for each activity are as shown in the accompanying table, what is the estimated completion time for the project?

A construction company has just started building a new house. It was estimated that the project will take 12 months. However, the owner of the land asked the company to complete it in 10 months. What should the construction company do to accommodate the owner's request?

Developing a new electronics product involves two activities that can be carried out independently: software development and hardware development. These activities would normally take 18 weeks and 20 weeks respectively, and the product development project is complete when both have been completed. If software development can be sped up at a cost of $1 million per week, and hardware development can be sped up at a cost of $2 million per week, what is the cost of reducing the project completion time to a)19 weeks and b)17 weeks?

What is "crashing"?

Who is responsible for the detailed project plan?

A 5-year project requires $10 million in initial investment and will bring $0.5 million in net annual revenue under a 10% annual interest rate. If you were a project manager, would you proceed with project or would you terminate the project and at which stage?