Consider the following work breakdown structure: \[\begin{array}{l} \begin{array} { c c c c c } &&&\text { Time Estimates (days) }\\ \text { Activity } & \text { Precedes } & \text { Optimistic } & \text { Most Likely } & \text { Pessimistic } \\ \hline \text { Start } & \text { A, B, C } & - & - & - \\ \text { A } & \text { D } & 38 & 50 & 62 \\ \text { B } & \text { E } & 90 & 99 & 108 \\ \text { C } & \text { End } & 85 & 100 & 115 \\ \text { D } & \text { F } & 19 & 25 & 31 \\ \text { E } & \text { End } & 91 & 100 & 115 \\ \text { F } & \text { End } & 62 & 65 & 68 \end{array} \end{array}\] What is the probability that this project will be completed within 205 days?

A) 0.6826 B) 0.8413 C) 0.9544 D) 0.9772 E) 0.9987 A) 0.6826 B) 0.8413 C) 0.9544 D) 0.9772 E) 0.9987

Consider the following work breakdown structure: $\begin{array}{cccccc} &\text { Start }&\text { Finish }&&\text { Duration (Days) } \\ \text { Activity } & \text { Node } & \text { Node } & \text { Optimistic } & \text { Most Likely } & \text { Pessimistic } \\ \hline \text { A } & 1 & 2 & 41 & 50 & 59 \\ \text { B } & 1 & 3 & 54 & 60 & 66 \\ \text { C } & 2 & 4 & 58 & 70 & 82 \\ \text { D } & 3 & 4 & 32 & 41 & 44 \end{array}$ What is the estimated standard deviation in the time for activity D?

A) 0 days B) 2 days C) 3 days D) 4 days E) 12 days A) 0 days B) 2 days C) 3 days D) 4 days E) 12 days

Consider the following work breakdown structure: \[\begin{array}{r} \text { Duration Estimates (Days) }\quad\quad\quad\\ \begin{array} { l c c c c } \text { Activity } & \text { Precedes } & \text { Optimistic } & \text { Most Likely } & \text { Pessimistic } \\ \hline \text { Start } & \text { U, V } & - & - & - \\ \text { U } & \text { W } & 35 & 50 & 65 \\ \text { V } & \text { W, X } & 28 & 40 & 52 \\ \text { W } & \text { Z } & 26 & 35 & 44 \\ \text { X } & \text { Y } & 28 & 40 & 52 \\ \text { Y } & \text { Z } & 26 & 29 & 38 \\ \text { Z } & \text { End } & 36 & 60 & 84 \end{array} \end{array}\] What is the estimated expected (mean) time for activity Y?

A) 30 days B) 29 days C) 38 days D) 26 days E) 35 days A) 30 days B) 29 days C) 38 days D) 26 days E) 35 days

Suppose a project is subject to the following risk events (each with a given probability of occurring and a cost associated with that occurrence): \[\begin{array} { l l l } \text { Event } & \text { Probability } & \text { Cost } ( \$ 000 \mathrm {~s} ) \\ \text { I } & .2 & 53 \\ \text { II } & .6 & 54 \\ \text { III } & .1 & 12 \\ \text { IV } & .3 & 21 \end{array}\] Given these, Event _____ should probably get the most attention and Event _____ should probably get the least.

A) II; IV B) III; IV C) I; III D) I; II E) II; III A) II; IV B) III; IV C) I; III D) I; II E) II; III

Consider the following work breakdown structure: \[\begin{array}{l} \begin{array} { c c c c c } &&&\text { Time Estimates (days) }\\ \text { Activity } & \text { Precedes } & \text { Optimistic } & \text { Most Likely } & \text { Pessimistic } \\ \hline \text { Start } & \text { A, B, C } & - & - & - \\ \text { A } & \text { D } & 38 & 50 & 62 \\ \text { B } & \text { E } & 90 & 99 & 108 \\ \text { C } & \text { End } & 85 & 100 & 115 \\ \text { D } & \text { F } & 19 & 25 & 31 \\ \text { E } & \text { End } & 91 & 100 & 115 \\ \text { F } & \text { End } & 62 & 65 & 68 \end{array} \end{array}\] What is the estimated slack time for activity A?

A) 0 days B) 20 days C) 40 days D) 60 days E) 100 days A) 0 days B) 20 days C) 40 days D) 60 days E) 100 days

Exam 17: Project Management

Consider the following work breakdown structure: Duration Estimate (Days) Start Finish Activity Node Node Optimistic Most Likely Pessimistic A 1 2 9 15 21 B 1 3 13 21 23 C 2 4 6 9 18 D 2 5 23 35 47 E 3 5 19 26 27 F 4 6 23 29 41 G 5 6 14 20 26 H 6 7 2 5 8 Within what amount of time (in weeks) is there a 90 percent probability that the critical path for this project will be completed? 95 percent? 99 percent?

(Short Answer)

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Question 101

Concerning PERT and CPM:

(Multiple Choice)

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Question 102

The standard deviation of the critical path is equal to the sum of the standard deviations of all of the activities on the critical path.

(True/False)

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Question 103

The task of identifying risks should involve everyone associated with the project.

(True/False)

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Question 104

Consider the following work breakdown structure: Duration Estimate (Days) Start Finish Activity Node Node Optimistic Most Likely Pessimistic A 1 2 9 15 21 B 1 3 13 21 23 C 2 4 6 9 18 D 2 5 23 35 47 E 3 5 19 26 27 F 4 6 23 29 41 G 5 6 14 20 26 H 6 7 2 5 8 What is the estimated standard deviation (in weeks) for the critical path completion time?

(Short Answer)

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Question 105

Consider the following work breakdown structure: Time Estimates (days) Activity Precedes Optimistic Most Likely Pessimistic Start A, B, C - - - A D 38 50 62 B E 90 99 108 C End 85 100 115 D F 19 25 31 E End 91 100 115 F End 62 65 68 What is the probability that this project will be completed within 205 days?

(Multiple Choice)

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Question 106

Which of the following are limitations of PERT? (I) Time estimates may include a fudge factor. (II) Important activities may be overlooked. (III) It is an after-the-fact analysis.

(Multiple Choice)

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Question 107

If the expected length of a path is more than 2.5 standard deviations less than a desired project completion time, the path will not be a factor in assessing the probability of finishing the project on time.

(True/False)

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Question 108

Consider the following work breakdown structure: Start Finish Duration (Days) Activity Node Node Optimistic Most Likely Pessimistic A 1 2 41 50 59 B 1 3 54 60 66 C 2 4 58 70 82 D 3 4 32 41 44 What is the estimated standard deviation in the time for activity D?

(Multiple Choice)

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Question 109

Consider the following work breakdown structure: Duration Estimates (Days) Activity Precedes Optimistic Most Likely Pessimistic Start U, V - - - U W 35 50 65 V W, X 28 40 52 W Z 26 35 44 X Y 28 40 52 Y Z 26 29 38 Z End 36 60 84 What is the estimated expected (mean) time for activity Y?

(Multiple Choice)

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Question 110

Project risk events tend to be unlikely a project, but that's also when they tend to be the .

(Multiple Choice)

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Question 111

The project computing algorithm requires both a forward and a backward pass.

(True/False)

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Question 112

The path in a network with the average length of time to completion is called the critical path.

(True/False)

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Question 113

A project is represented by the following diagram: The critical path for the network shown is:

(Multiple Choice)

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Question 114

Activity D has an optimistic time of three days, a pessimistic time of nine days, and a most likely time of four days. Determine its expected time and variance.

(Essay)

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Question 115

The earliest finish time for an activity is equal to the latest finish time minus the activity time.

(True/False)

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Question 116

Suppose a project is subject to the following risk events (each with a given probability of occurring and a cost associated with that occurrence): Event Probability Cost (\ 000) I .2 53 II .6 54 III .1 12 IV .3 21 Given these, Event _ should probably get the most attention and Event _ should probably get the least.

(Multiple Choice)

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Question 117

The basis for use of the beta distribution in PERT is:

(Multiple Choice)

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Question 118

Consider the following work breakdown structure: Time Estimates (days) Activity Precedes Optimistic Most Likely Pessimistic Start A, B, C - - - A D 38 50 62 B E 90 99 108 C End 85 100 115 D F 19 25 31 E End 91 100 115 F End 62 65 68 What is the estimated slack time for activity A?

(Multiple Choice)

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Question 119

Slack time is equal to LS-ES or LF-EF.

(True/False)

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Question 120

Exam 17: Project Management

Concerning PERT and CPM:

The standard deviation of the critical path is equal to the sum of the standard deviations of all of the activities on the critical path.

The task of identifying risks should involve everyone associated with the project.

Which of the following are limitations of PERT? (I) Time estimates may include a fudge factor. (II) Important activities may be overlooked. (III) It is an after-the-fact analysis.

If the expected length of a path is more than 2.5 standard deviations less than a desired project completion time, the path will not be a factor in assessing the probability of finishing the project on time.

Consider the following work breakdown structure: Start Finish Duration (Days) Activity Node Node Optimistic Most Likely Pessimistic A 1 2 41 50 59 B 1 3 54 60 66 C 2 4 58 70 82 D 3 4 32 41 44 What is the estimated standard deviation in the time for activity D?

Consider the following work breakdown structure: Duration Estimates (Days) Activity Precedes Optimistic Most Likely Pessimistic Start U, V - - - U W 35 50 65 V W, X 28 40 52 W Z 26 35 44 X Y 28 40 52 Y Z 26 29 38 Z End 36 60 84 What is the estimated expected (mean) time for activity Y?

Project risk events tend to be unlikely __________ a project, but that's also when they tend to be the __________.

The project computing algorithm requires both a forward and a backward pass.

The path in a network with the average length of time to completion is called the critical path.

A project is represented by the following diagram: The critical path for the network shown is:

Activity D has an optimistic time of three days, a pessimistic time of nine days, and a most likely time of four days. Determine its expected time and variance.

The earliest finish time for an activity is equal to the latest finish time minus the activity time.

The basis for use of the beta distribution in PERT is:

Consider the following work breakdown structure: Time Estimates (days) Activity Precedes Optimistic Most Likely Pessimistic Start A, B, C - - - A D 38 50 62 B E 90 99 108 C End 85 100 115 D F 19 25 31 E End 91 100 115 F End 62 65 68 What is the estimated slack time for activity A?

Slack time is equal to LS-ES or LF-EF.

Introduction to Operations Management

Competitiveness, Strategy, and Productivity

Forecasting

Product and Service Design

Extension: Reliability

Strategic Capacity Planning for Products and Services

Extension: Decision Theory

Process Selection and Facility Layout

Work Design and Measurement

Extension: Learning Curves

Location Planning and Analysis

Extension: The Transportation Model

Management of Quality

Quality Control

Extension: Acceptance Sampling

Aggregate Planning and Master Scheduling

MRP and ERP

Inventory Management

Jit and Lean Operations

Extension: Maintenance

Supply Chain Management

Scheduling

Management of Waiting Lines

Linear Programming

Filters

Project risk events tend to be unlikely a project, but that's also when they tend to be the .