Exam 2: Project Management

The ________ is the shortest time in which an activity can be completed if all goes exceptionally well.

Table 2.6 -Using Table 2.6,what is the earliest that activity D can be finished?

A relationship that determines the sequence for undertaking activities is a precedence relationship.

Table 2.4 -Using Table 2.4,what is the largest amount of slack that any activity in the project has?

Table 2.10 -Using Table 2.10,what is the critical path for this project using the normal times?

Consider the activities,durations,and predecessor relationships in the following network.Draw the network and answer the questions that follow. a.What is the expected time for activity B? b.What is the variance for activity B? c.Based on the calculation of estimated times,what is the critical path? d.What is the estimated time of the critical path? e.What is the activity variance along the critical path? f.What is the probability of completion of the project before week 42?

Table 2.10 -Using Table 2.10,what is the activity with the greatest amount of slack?

Which one of the following conditions violates the assumptions of PERT/CPM networks?

The following table contains a list of activities,with precedence requirements and crash costs.All start and finish times and crash costs are on a per-week basis. a.Determine the project cost and duration without crashing. b.Determine the least expensive project cost if the duration is to be 10% shorter than normal project duration. c.Determine the least expensive project cost if the duration is to be 20% shorter than normal project duration. d.Create a graph that shows project expediting cost plotted as a function of the reduction in project duration.

Why do managers want to know the slack of activities?

Assuming a beta distribution is being used,if the most pessimistic time for an activity increases by six weeks,what will happen to the expected time for that activity?

Table 2.10 -Using Table 2.10,what is the minimum crashing cost to finish this project in 18 days?

Table 2.5 -Using Table 2.5,which activity is on the critical path?

Table 2.5 -Using Table 2.5,what is the standard deviation for the entire project?

A(n)________ identifies the key threats to a project and prescribes ways to work around them.

Which one of the following best describes the critical path of a PERT/CPM network?

To obtain the latest start and latest finish time,we must work forward through the network.

Table 2.14 You are responsible for managing a project with the following activities (times are given in weeks). -Using Table 2.14,what is the probability of completing the project in 17 or fewer weeks?

Table 2.7 -Using Table 2.7,suppose activity I is delayed,taking eight days to complete instead of two days.Assume all other activity times remain the same.How much longer will the total project earliest completion time become?

List the three main goals of a project.Use the example of a project to implement a new billing procedure for a small lawn mowing business,describe how project management principles help achieve these goals.