Exam 4: Project Management

An event unit package is a subdivision of a project.

One of the disadvantages of a pure project organizational structure is that the project manager has full authority over the project.

Calculating the early start and early finish times for each activity in a CPM analysis does not provide any useful information.

A project may be defined as a series of related jobs directed toward some major output and requiring a significant period of time to perform.

Project management can be defined as planning, directing, and controlling resources to meet the technical, cost, and time constraints of the project.

A simple project listing of five activities, their predecessors, and their respective time estimates are presented here: Using CPM, what is the latest finish time for the last activity in this project (i.e., the total time to complete the project)?

The project indirect costs associated with a project include overhead, facilities, and resource opportunity costs.

You know when you have arrived at the optimal solution in using the time-cost CPM scheduling model analysis when what happens?

The critical path of activities in a project is the sequence of activities that form the shortest chain in a project network of activities.

Complex projects are often subdivided into a series of tasks that are typically configured to be not longer than several months in duration.

Some of the advantages of a functional project where the project is housed in a functional division include which of the following?

A simple project listing of five activities and their respective time estimates are presented here: Using CPM, which activities make up the critical path?

A matrix project structure is often referred to as a "skunkworks." A pure project is nicknamed skunkworks.

You have just used the network planning model and found the critical path length is 60 days and there are two critical paths.The standard deviation of the first critical path is 10 days and the s.d.of the second critical path is 15 days.The probability that the project will be completed in 70 days or less is equal to (2 decimal accuracy)

A project milestone is a specific event to be reached by a particular point in time.

Upper-level management must decide between pure, functional, and matrix structures as ways to organize projects.

Earned value management (EVM) has the capability to combine measurements of scope, schedule, and cost in a project.

You are looking at a chart that has the terms BCWS, BCWP, and AC indicating lines on the chart.What kind of chart are you looking at?

CPM is an abbreviation for critical path method.

You have just used the network planning model and found the critical path length is 30 days and the variance of the critical path is 25 days.The probability that the project will be completed in 33 days or less is equal to (2 decimal accuracy)