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Exam 10: Projects

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Question 21

True/False

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The critical path in a project is that sequence of activities that consume the longest amount of time in a project network of activities.

A) True
B) False

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Question 22

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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. 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.At what day do we achieve the lowest total project cost (i.e., direct plus indirect costs) ?

A) 16 days
B) 15 days
C) 14 days
D) 13 days
E) 12 days

F) A) and B)
G) B) and D)

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Question 23

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An event unit package is a subdivision of a project.

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.

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

In a CPM analysis if you subtract the late finish from the early finish the result is the activity's slack time.

You are managing a project and need to cut the cost of the project.You decide to transfer workers to another job to cut the project's costs.Costs associated with transferring the workers are an example of project indirect costs.

A disadvantage of a matrix project organizational structure is that a project manager is held responsible for successful completion of the project.

A project may be defined as a series of related jobs directed toward some major output and requiring a significant period of time to perform.

In a Gantt chart the horizontal axis is usually which of the following?

You have just performed a CPM analysis and have found that more than one path through the project network has zero slack values.What can you conclude?

One of the assumptions made using CPM is that project activities can be identified with clear beginning and ending points.

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

One criticism of using CPM analysis in project management is that the zero slack path through a network may not be the ultimate determinant of the project completion time.

Earned Value Management (EVM) has the capability to combine measurements of scope, schedule and cost in a project.

CPM is an abbreviation for Critical Path Method.

A project can be subdivided into which of the following?

You have just been assigned to oversee a series of projects.Functional areas will loan you personnel for each project and separate project managers will be responsible for separate projects.These project managers will report to you.Which project management structure is being used?

Below are the data for a Time-Cost CPM Scheduling model analysis.The time is in days and the costs include both direct and indirect costs. If you crash this project to reduce the total time by one day what is the total time of the project and total cost?

A simple project listing of five activities, their predecessors and their respective time estimates are presented below: Using CPM, what is the Latest Finish Time for the last activity in this project (i.e., the total time to complete the project) ?