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Exam 16: Project Management

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Question 61

Multiple Choice

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Which of the following information about activities is not needed in determining how to crash a project?

A) the normal cost
B) the crash cost
C) the crash time estimate
D) the normal time estimate
E) how many dummy activities there are

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Question 62

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Consider a project having the following ten activities: Normal Normal Crash Crash Maximum Immediate Time Cost Time Cost Weeks Activity Predecessors (weeks) ($) (weeks) ($) Reduced A none 7 3,000 6 6,000 1 B A 8 5,000 6 9,000 2 C A 2 2,000 1 3,000 1 D A 4 3,000 4 3,000 0 E B, C 9 4,000 7 6,000 2 F C, D 6 4,000 4 9,000 2 G E 2 3,000 2 3,000 0 H E, F 9 4,000 7 7,000 2 I G 1 4,000 1 4,000 0 J H, I 8 2,000 6 7,000 2 (a)What is the expected project completion time? (b)What is the critical path? (c)What is the most economical way and how much will it cost to reduce the completion time of the project by three weeks? by five weeks?

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(a)41 weeks; (b)A-B-E-H-J; (c)three week...

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Question 63

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The process of calculating ES and EF ______________________________.

Which of the following is not characteristic of a project?

The most likely time completion date is the _______________ of the beta distribution.

Which phase in the project life cycle involves analyzing the project risk?

Which of the following can be calculated for an activity once ES, EF, LS, and LF have been calculated for the activity?

Critical path shows the _______________ completion time for the project.

We use _____________________ time estimates when we can make a reliable estimate.

What is a unique, one-time event that is intended to achieve an objective in a given time period?

Consider a project having the following seven activities: Normal Normal Crash Crash Maximum Immediate Time Cost Time Cost Weeks Activity Predecessors (weeks) ($) (weeks) ($) Reduced A none 4 3,000 3 5,000 1 B A 9 5,000 7 8,000 2 C A 4 7,000 4 7,000 0 D B, C 6 6,000 4 8,000 2 E C 8 4,000 6 8,000 2 F D 3 4,000 2 9,000 1 G E, F 4 2,000 2 7,000 2 (a)What is the expected project completion time? (b)What is the critical path? (c)What is the most economical way and how much will it cost to reduce the completion time of the project by three weeks? By five weeks?

Define crashing as it relates to project management.

What is involved in the approach for crashing projects?

Given this information about an activity: ES = 10, EF = 20, LS = 29, and LF = 39. The amount of slack associated with the activity is ____________________.

Which of the following is not included in the approach for crashing projects?

With probabilistic time estimates for activities, (o) denotes the _______________________.

There are four activities on the critical path, and they have variances of 1, 2, 4, and 2. The variance of the critical path is _______.

In the TOC, if delays exceed the feeding buffer, the project completion date is still protected by the ____________.

Name and describe the three ways to waste safety time in the critical chain approach.

Consider a project having the following seven activities: Immediate Activity Predecessors Time (weeks) A none 4 B none 6 C A 9 D A 7 E B 4 F D, E 5 G F 4 (a)What is the critical time? (b)What is the critical path? (c)What is the slack for each activity?