Question 1

You know when you have arrived at the optimal solution in using the Time-Cost CPM Scheduling model analysis when what happens?

Accepted Answer

A) You have found the critical path 
B) You have run out of crash time 
C) You no longer have a linear relationship with costs 
D) You have reached the minimum total cost 
E) You have run out of crash costs 
A) You have found the critical path 
B) You have run out of crash time 
C) You no longer have a linear relationship with costs 
D) You have reached the minimum total cost 
E) You have run out of crash costs D

Question 2

Most project work is controlled by PERT or CPM and thus team leadership is less crucial than in other parts of an organization.

Accepted Answer

A) True 
 B)False  False

Question 3

Below are the data for a Time-Cost CPM Scheduling analysis.The time is in days and the costs include both direct and indirect costs.

Accepted Answer

$\begin{array}{|l|l|l|l|l|l|}
\hline & \text { Immediate } & \text { Normal } & \text { Crash } & \text { Normal } & \text { Crash } \
\hline \text { Activity } & \text { Predecessor } & \text { Time } & \text { Time } & \text { Cost } & \text { Cost } \
\hline \text { A } & \text { None } & 3 & 2 & \$ 200 & \$ 400 \
\hline \text { B } & \text { A } & 4 & 3 & \$ 300 & \$ 600 \
\hline \text { C } & \text { A } & 1 & 1 & \$ 300 & \$ 300 \
\hline \text { D } & \text { B and C } & 3 & 2 & \$ 500 & \$ 550 \
\hline \text { E } & \text { D } & 2 & 1 & \$ 500 & \$ 900 \
\hline
\end{array}$ 
If you crash this project to reduce the total time by four days,what is the total time of the project and total cost?
Total time is 8 days,total cost is $2,750

Question 4

A simple project listing of five activities,their predecessors and their respective time estimates are presented below: $\begin{array}{|l|l|l|}
\hline \text { Activity } & \text { Immediate Predecessor } & \text { Time in Days } \
\hline \text { A } & \text { None } & 3 \
\hline \text { B } & \text { A } & 2 \
\hline \text { C } & \text { A } & 1 \
\hline \text { D } & \text { B and C } & 3 \
\hline \text { E } & \text { D } & 4 \
\hline
\end{array}$
Using the Single Time Estimate CPM procedure,what is the Latest Finish Time for the last activity in this project (i.e. ,the total time to complete the project)?

Accepted Answer

A) 10 days 
B) 7 days 
C) 8 days 
D) 12 days 
E) 9 days 
A) 10 days 
B) 7 days 
C) 8 days 
D) 12 days 
E) 9 days

Question 5

When reducing the planned duration of a project using the Time-Cost CPM model we select the activity to crash by determining the cost of each alternative and selecting the one whose cost is the greatest.

Accepted Answer

A) True 
 B)False

Question 6

Breakthrough projects are those that provide fundamental improvements to existing products.

Accepted Answer

A) True 
 B)False

Question 7

You have collected the data for a Time-Cost CPM Scheduling model analysis.The time is in days and the project "direct costs" are given below. $\begin{array}{|l|l|l|l|l|l|}
\hline & \text { Immediate } & \text { Normal } & \text { Crash } & \text { Normal } & \text { Crash } \
\hline \text { Activity } & \text { Predecessor } & \text { Time } & \text { Time } & \text { Cost (Direct) } & \text { Cost (Direct) } \
\hline \text { A } & \text { None } & 3 & 2 & \$ 300 & \$ 400 \
\hline \text { B } & \text { A } & 3 & 3 & \$ 100 & \$ 100 \
\hline \text { C } & \text { A } & 1 & 1 & \$ 200 & \$ 200 \
\hline \text { D } & \text { B and C } & 3 & 2 & \$ 400 & \$ 550 \
\hline \text { E } & \text { D } & 2 & 1 & \$ 500 & \$ 900 \
\hline \text { F } & \text { E } & 3 & 3 & \$ 200 & \$ 200 \
\hline \text { G } & \text { F } & 2 & 2 & \$ 100 & \$ 100 \
\hline
\end{array}$
The indirect costs for the project are determined on a daily duration basis.If the project lasts 16 days the total indirect costs are $400,15 days they will be $250,14 days they will be $200 and 13 days they will be $100.If you crash this project by one day what is the total (i.e. ,direct and indirect)project cost?

Accepted Answer

A) $2,150 
B) $2,300 
C) $2,400 
D) $2,450 
E) $2,500 
A) $2,150 
B) $2,300 
C) $2,400 
D) $2,450 
E) $2,500

Question 8

What is the criterion for determining whether a project activity is on the "critical path" or not?

Accepted Answer

This question is answered by the definit

Question 9

Slack activity time is the difference between the early start and the late finish of a project activity time.

Accepted Answer

A) True 
 B)False

Question 10

You have determined the critical path in a CPM analysis.You would like to determine the probability of completing the project is a desired period of time.One of the activities on the critical path has an optimistic time of 5 minutes,a most likely time of 6 and a pessimistic time of 17.What is the variance estimate of this activity?

Accepted Answer

A) 0.5 
B) 1 
C) 2 
D) 3 
E) 4 
A) 0.5 
B) 1 
C) 2 
D) 3 
E) 4

Question 11

The expected time estimate in a CPM three time estimate procedure is a weighted average formula.

Accepted Answer

A) True 
 B)False

Question 12

You are working on a project that has 12 activities and want to perform a CPM analysis on the project.You determine the critical path consists of only five activities.You then compute the variances for the five critical path activities and these variances are 3,4,2,1 and 6 days.If the desired completion date for the project is 50 days and the expected completion date for the project is 40 days,what is the probability that the project will be completed by the desired completion date?

Accepted Answer

A) 0.99379 
B) 0.99180 
C) 0.99772 
D) 0.91924 
E) 0.67364 
A) 0.99379 
B) 0.99180 
C) 0.99772 
D) 0.91924 
E) 0.67364

Question 13

PERT is an abbreviation for which of the following methodologies?

Accepted Answer

A) Product Evaluation Result and Treatment 
B) Programming and Evaluation Realization Technology 
C) Program Evaluation and Review Technique 
D) Process Evaluation and Review Technology 
E) It is a name,not an abbreviation for anything 
A) Product Evaluation Result and Treatment 
B) Programming and Evaluation Realization Technology 
C) Program Evaluation and Review Technique 
D) Process Evaluation and Review Technology 
E) It is a name,not an abbreviation for anything

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

An advantage of a pure project where self-contained teams work full time on a project is which of the following?

Accepted Answer

A) Team members can work on several projects 
B) Functional area is a "home" after the project is completed 
C) There are duplicated resources 
D) Lines of communication are shortened 
E) Overall organizational policies and goals can be ignored 
A) Team members can work on several projects 
B) Functional area is a "home" after the project is completed 
C) There are duplicated resources 
D) Lines of communication are shortened 
E) Overall organizational policies and goals can be ignored

Question 16

One of the assumptions made using CPM is that project activity sequence relationships can be specified and networked.

Accepted Answer

A) True 
 B)False

Question 17

When the time estimates in a CPM analysis vary into optimistic,most likely and pessimistic,we should use the single time estimate CPM procedure.

Accepted Answer

A) True 
 B)False

Question 18

What is a work breakdown structure?

Accepted Answer

A) A list of the activities making up the higher levels of the project 
B) A definition of the hierarchy of project tasks,subtasks and work packages 
C) A depiction of the activities making up a project 
D) A Gantt chart 
E) A structure that is incompatible with the Critical Path Method 
A) A list of the activities making up the higher levels of the project 
B) A definition of the hierarchy of project tasks,subtasks and work packages 
C) A depiction of the activities making up a project 
D) A Gantt chart 
E) A structure that is incompatible with the Critical Path Method

Question 19

The activity direct costs associated with a project might include giving workers overtime to complete a project in less-than the expected time.

Accepted Answer

A) True 
 B)False

Question 20

One of the criticisms of CPM analysis is that projects tend to change and develop over time,making the use of formulas for combining together the optimistic,most likely and pessimistic values useless.

Accepted Answer

A) True 
 B)False

Exam 3: Project Management

You know when you have arrived at the optimal solution in using the Time-Cost CPM Scheduling model analysis when what happens?

Most project work is controlled by PERT or CPM and thus team leadership is less crucial than in other parts of an organization.

Below are the data for a Time-Cost CPM Scheduling analysis.The time is in days and the costs include both direct and indirect costs.

When reducing the planned duration of a project using the Time-Cost CPM model we select the activity to crash by determining the cost of each alternative and selecting the one whose cost is the greatest.

Breakthrough projects are those that provide fundamental improvements to existing products.

What is the criterion for determining whether a project activity is on the "critical path" or not?

Slack activity time is the difference between the early start and the late finish of a project activity time.

The expected time estimate in a CPM three time estimate procedure is a weighted average formula.

PERT is an abbreviation for which of the following methodologies?

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

An advantage of a pure project where self-contained teams work full time on a project is which of the following?

One of the assumptions made using CPM is that project activity sequence relationships can be specified and networked.

When the time estimates in a CPM analysis vary into optimistic,most likely and pessimistic,we should use the single time estimate CPM procedure.

What is a work breakdown structure?

The activity direct costs associated with a project might include giving workers overtime to complete a project in less-than the expected time.

One of the criticisms of CPM analysis is that projects tend to change and develop over time,making the use of formulas for combining together the optimistic,most likely and pessimistic values useless.

Introduction to the Field

Operations and Supply Strategy

Product and Service Design

Strategic Capacity Management

Process Analysis

Manufacturing Processes

Service Processes

Six Sigma Quality

Supply-Chain Strategy

Logistics and Facility Location

Lean Manufacturing

Operations Consulting Reengineering

Enterprise Resource Planning Systems

Demand Management and Forecasting

Aggregate Sales and Operations Planning

Inventory Control

Material Requirements Planning

Scheduling

Constraint Management

Linear Programming Using the Excel Solver

Learning Curves

Job Design Work Measurement

Waiting Line Analysis

Process Capability and Spc

Simulation

Filters