Question 1

Table 7.4
  
-Using Table 7.4,what is the latest finish time for activity C?

Accepted Answer

A) week 4 
B) week 6 
C) week 8 
D) week 10 
A) week 4 
B) week 6 
C) week 8 
D) week 10

Question 2

Table 7.4
  
-Using Table 7.4,what is the slack associated with activity B?

Accepted Answer

A) 1 week 
B) 2 weeks 
C) 3 weeks 
D) None of these is the correct activity slack for B. 
A) 1 week 
B) 2 weeks 
C) 3 weeks 
D) None of these is the correct activity slack for B.

Question 3

Table 7.2  
-Using Table 7.2,which activity will have the largest amount of slack?

Accepted Answer

A) Activity F 
B) Activity C 
C) Activity H 
D) Activity A 
A) Activity F 
B) Activity C 
C) Activity H 
D) Activity A

Question 4

In a network diagram,an activity:

Accepted Answer

A) is the largest unit of work effort consuming both time and resources that a project manager can schedule and control. 
B) is the smallest unit of work effort consuming both time and resources that a project manager can schedule and control. 
C) should always be something the company has had experience with. 
D) must always have a single,precise estimate for the time duration. 
A) is the largest unit of work effort consuming both time and resources that a project manager can schedule and control. 
B) is the smallest unit of work effort consuming both time and resources that a project manager can schedule and control. 
C) should always be something the company has had experience with. 
D) must always have a single,precise estimate for the time duration.

Question 5

Why do managers want to know the slack of activities?

Accepted Answer

Managers monitor activity slack reports

Question 6

A project manager should stop crashing a project if the time budget has been met or if the crash costs have exceeded the savings in indirect and penalty costs.

Accepted Answer

A) True 
 B)False

Question 7

Table 7.13
All activity times for the project are in weeks.
  
-Using Table 7.13,what is the expected time of completion of the project?

Accepted Answer

A) fewer than 60 weeks 
B) between 60 and 65 weeks 
C) between 65 and 70 weeks 
D) greater than 70 weeks 
A) fewer than 60 weeks 
B) between 60 and 65 weeks 
C) between 65 and 70 weeks 
D) greater than 70 weeks

Question 8

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

Accepted Answer

The answer of The ________ is the shortest time in...

Question 9

What is the crashing cost per week for activity F in Table 7.7?

Accepted Answer

A) $2,000 
B) $3,000 
C) $4,000 
D) This activity cannot be crashed. 
A) $2,000 
B) $3,000 
C) $4,000 
D) This activity cannot be crashed.

Question 10

Project managers should be able to organize a set of disparate activities.

Accepted Answer

A) True 
 B)False

Question 11

Table 7.6
  
-Using Table 7.6,what is the critical path for this project?

Accepted Answer

A) B-E-H-K 
B) B-E-H-J 
C) A-E-G-J 
D) C-F-I-L 
A) B-E-H-K 
B) B-E-H-J 
C) A-E-G-J 
D) C-F-I-L

Question 12

If the sum of the variances on the critical path (and all other network paths)is equal to zero,what is the probability that the project will be completed by its earliest expected completion date?

Accepted Answer

A) 50 percent 
B) 95 percent 
C) 100 percent 
D) It cannot be determined. 
A) 50 percent 
B) 95 percent 
C) 100 percent 
D) It cannot be determined.

Question 13

Following the project defining and organizing phase,project planning involves five steps.List and briefly describe these five planning steps as applied to writing a term paper for an Operations Management class.

Accepted Answer

The following points should be included

Question 14

To find the standard deviation of the critical path,you must first add the ________ of all activities on the critical path.

Accepted Answer

The answer of To find the standard deviation of the...

Question 15

Table 7.9  
-Using Table 7.9,what is the earliest completion time of this project if normal times are used for all activities?

Accepted Answer

A) fewer than 13 weeks 
B) 13 weeks 
C) 14 weeks 
D) more than 14 weeks 
A) fewer than 13 weeks 
B) 13 weeks 
C) 14 weeks 
D) more than 14 weeks

Question 16

Following are four sets of most optimistic,most likely,and most pessimistic times (in weeks)for an activity.Which one of the four sets will have a mean estimated time equal to the most likely time?

Accepted Answer

A) 1,9,9 
B) 1,5,9 
C) 1,1,9 
D) 1,5,5 
A) 1,9,9 
B) 1,5,9 
C) 1,1,9 
D) 1,5,5

Question 17

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

Accepted Answer

A) the sequence of activities between a project's start and finish that takes the longest time to complete 
B) the sequence of activities between a project's start and finish that has the maximum amount of activity slack 
C) the set of activities that has no precedence relationships 
D) the sequence of activities that has the lowest normal activity cost 
A) the sequence of activities between a project's start and finish that takes the longest time to complete 
B) the sequence of activities between a project's start and finish that has the maximum amount of activity slack 
C) the set of activities that has no precedence relationships 
D) the sequence of activities that has the lowest normal activity cost

Question 18

A project is currently scheduled to be finished on its normal earliest completion date.The project manager has the opportunity to earn a bonus if the project can be completed three weeks ahead of schedule.The increase in project direct costs related to crashing activities would be $40,000.Also,project indirect costs are $15,000 per week.What is the smallest bonus that the project manager should accept if he or she wants to avoid increasing overall project costs?

Accepted Answer

A) less than or equal to $5,000 
B) greater than $5000 but less than or equal to $10,000 
C) greater than $10,000 but less than or equal to $15,000 
D) greater than $15,000 
A) less than or equal to $5,000 
B) greater than $5000 but less than or equal to $10,000 
C) greater than $10,000 but less than or equal to $15,000 
D) greater than $15,000

Question 19

The earliest start time for an activity is equal to the:

Accepted Answer

A) smallest earliest finish time of all of its immediate predecessors. 
B) largest earliest finish time of all of its immediate predecessors. 
C) smallest late start time of any of its immediate predecessors. 
D) largest late finish time of all of its immediate predecessors. 
A) smallest earliest finish time of all of its immediate predecessors. 
B) largest earliest finish time of all of its immediate predecessors. 
C) smallest late start time of any of its immediate predecessors. 
D) largest late finish time of all of its immediate predecessors.

Question 20

Table 7.9  
-Using Table 7.9,what is the difference,in dollars,between the minimum-time schedule and the schedule created by crashing all activities to their limits? Assume that there are no indirect or penalty costs.

Accepted Answer

A) less than or equal to $1,000 
B) greater than $1000 but less than or equal to $2,000 
C) greater than $2000 but less than or equal to $3,000 
D) greater than $3,000 
A) less than or equal to $1,000 
B) greater than $1000 but less than or equal to $2,000 
C) greater than $2000 but less than or equal to $3,000 
D) greater than $3,000

Exam 7: Project Management

Table 7.4 -Using Table 7.4,what is the latest finish time for activity C?

Table 7.4 -Using Table 7.4,what is the slack associated with activity B?

Table 7.2 -Using Table 7.2,which activity will have the largest amount of slack?

In a network diagram,an activity:

Why do managers want to know the slack of activities?

A project manager should stop crashing a project if the time budget has been met or if the crash costs have exceeded the savings in indirect and penalty costs.

Table 7.13 All activity times for the project are in weeks. -Using Table 7.13,what is the expected time of completion of the project?

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

What is the crashing cost per week for activity F in Table 7.7?

Project managers should be able to organize a set of disparate activities.

Table 7.6 -Using Table 7.6,what is the critical path for this project?

If the sum of the variances on the critical path (and all other network paths)is equal to zero,what is the probability that the project will be completed by its earliest expected completion date?

Following the project defining and organizing phase,project planning involves five steps.List and briefly describe these five planning steps as applied to writing a term paper for an Operations Management class.

To find the standard deviation of the critical path,you must first add the ________ of all activities on the critical path.

Table 7.9 -Using Table 7.9,what is the earliest completion time of this project if normal times are used for all activities?

Following are four sets of most optimistic,most likely,and most pessimistic times (in weeks)for an activity.Which one of the four sets will have a mean estimated time equal to the most likely time?

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

The earliest start time for an activity is equal to the:

Table 7.9 -Using Table 7.9,what is the difference,in dollars,between the minimum-time schedule and the schedule created by crashing all activities to their limits? Assume that there are no indirect or penalty costs.

Using Operations to Create Value

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