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Exam 3: Project Management

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Question 31

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Identify, in order, the six steps basic to both PERT and CPM.

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1. Define the project and prepare the WB...

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Question 32

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The Beta distribution is used in project management to

A) calculate slack on activities not on the critical path.
B) calculate the probability that a project will be completed within its budget.
C) calculate pessimistic and optimistic activity times.
D) determine which activity should be crashed.
E) none of the above.

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Question 33

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A network consists of the activities in the following list. Times are given in weeks. $\begin{array} { | c | c | c | } \hline \text { Activity } & \text { Preceding } & \text { Duration } \\\hline \text { A } & - - & 8 \\\hline \text { B } & - - & 3 \\\hline \text { C } & \text { A } & 7 \\\hline \text { D } & \text { A, B } & 3 \\\hline \text { E } & \text { C } & 4 \\\hline \text { F } & \text { D } & 6 \\\hline\end{array}$ a. Draw the network diagram. b. Calculate the ES, EF, LS, LF, and Slack for each activity. c. What is project completion time?

What are the advantages of using PERT and CPM?

Two critical path activities are candidates for crashing on a CPM network. Activity details are in the table below. To cut two days from the project's duration, activity ________ should be crashed, adding ________ to the total project cost. $\begin{array} { | c | c | c | c | c | } \hline \text { Activity } & \text { Normal Time } & \text { Normal Cost } & \text { Crash Time } & \text { Crash Cost } \\\hline \mathrm { D } & 5 \text { days } & \$ 6,000 & 3 \text { days } & \$ 8,000 \\\hline \mathrm { E } & 8 \text { days } & \$ 4,000 & 4 \text { days } & \$ 6,000 \\\hline\end{array}$

Which of the following statements regarding critical paths is true?

If an activity whose normal duration is 55 days can be shortened to 50 days for an added cost of $45,000, the crash cost per period is

Ethical issues that may arise in projects large and small due to

Every network has at least one critical path.

________ is the amount of time an individual activity in a network can be delayed without delaying the entire project.

Shortening the project's duration by deleting unnecessary activities is called "project crashing."

What are the earliest activity start time and latest activity start time, and how are they computed?

In project management, crashing an activity must consider the impact on all paths in the network.

A network consists of the following list. Times are given in weeks. $\begin{array} { | c | c | c | c | c | } \hline \text { Activity } & \text { Preceding } & \text { Optimistic } & \text { Probable } & \text { Pessimistic } \\\hline \mathrm { A } & - - & 5 & 11 & 14 \\\hline \mathrm { B } & - & 3 & 3 & 9 \\\hline \mathrm { C } & - - & 6 & 10 & 14 \\\hline \mathrm { D } & \mathrm { A } , \mathrm { B } & 3 & 5 & 7 \\\hline \mathrm { E } & \mathrm { B } & 4 & 6 & 11 \\\hline \text { F } & \mathrm { C } & 6 & 8 & 13 \\\hline \text { G } & \mathrm { D } , \mathrm { E } & 2 & 4 & 6 \\\hline \mathrm { H } & \mathrm { F } & 3 & 3 & 9 \\\hline\end{array}$ a. Draw the network diagram. b. Calculate the expected duration and variance of each activity. c. Calculate the expected duration and variance of the critical path. d. Calculate the probability that the project will be completed in less than 28 weeks.

PERT calculations typically include the duration variance of each activity. What is the purpose of this calculation-what's the role of variances in PERT analysis?

Describe some of the challenges faced in the construction of the new 11-story building at Arnold Palmer Hospital in Orlando, Florida.

WBS stands for which of the following project management tools?

________ is a network technique using only one time factor per activity that enables managers to schedule, monitor, and control large and complex projects.

Which of the following statements concerning CPM activities is false?

What is a project organization?