Deck 7: Project Management

Question 1

A graph that plots the total resources needed per period vs.time is called a(n)________.

A)Gantt Chart
B)Resource Loading Chart
C)Work Breakdown Structure
D)Project Network Chart
E)PERT/CPM Chart

Answer 1

B

Question 2

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.Determine the latest start time (LST)and latest finish time (LFT)of activity B.

A)LST = 9,LFT = 5
B)LST = 5,LFT = 9
C)LST = 8,LFT = 4
D)LST = 4,LFT = 8
E)LST = 8,LFT = 10

Answer 2

D

Question 3

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.What is the slack time,in days,associated with activity D?

A)0
B)1
C)2
D)3
E)4

Answer 3

B

Question 4

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)PERT project.The three values that represent each activity's completion time (in days)correspond to an optimistic time,most likely time,and pessimistic time,respectively.

Refer to the figure.What is the probability of not completing the project within 18 days?

A)0)0668
B)0)4332
C)0)9332
D)0)4878
E)0)0122

Question 5

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.What is the earliest start time (EST)and earliest finish time (EFT)of activity E?

A)EST = 7,EFT = 10
B)EST = 10,EFT = 7
C)EST = 11,EFT = 8
D)EST = 8,EFT = 10
E)EST = 8,EFT = 11

Question 6

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)PERT project.The three values that represent each activity's completion time (in days)correspond to an optimistic time,most likely time,and pessimistic time,respectively.

Refer to the figure.What deadline should be set to ensure a 99% probability that the project will be completed within the deadline date?

A)19.45 days
B)19 days
C)18 days
D)20.56 days
E)18.54 days

Question 7

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.What is the critical path?

A)ABDF
B)ABEF
C)ACDF
D)ACEF
E)none of the above

Question 8

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)PERT project.The three values that represent each activity's completion time (in days)correspond to an optimistic time,most likely time,and pessimistic time,respectively.

Refer to the figure.What is the expected completion time of the critical path?

A)16 days
B)17 days
C)18 days
D)19 days
E)20 days

Question 9

Activity A has a standard cost of $500 and the standard time to complete Activity A is 5 weeks.The crash time for Activity A is 3 weeks and the crash cost is $600.What is the crash cost per week for Activity A?

A)$50
B)$100
C)$150
D)$200
E)$300

Question 10

Crash time is the longest time it would take to finish an activity if additional resources were allocated.

Question 11

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)PERT project.The three values that represent each activity's completion time (in days)correspond to an optimistic time,most likely time,and pessimistic time,respectively.

Refer to the figure.What is the standard deviation associated with the completion time of activity B?

A)0)1111
B)0)2222
C)0)3333
D)2
E)5

Question 12

Which of the following statements about the project budgeting process is True?

A)The weekly budget is formed by only using the early start times of each activity.
B)The weekly budget is formed by only using the late start times of each activity.
C)The weekly budget is formed by only using the early start time of each activity on the critical path.
D)The weekly budget is formed by using both the early start and finish times of each activity on the critical path.
E)The weekly budget is formed by using both the early start and finish times of each activity.

Question 13

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)PERT project.The three values that represent each activity's completion time (in days)correspond to an optimistic time,most likely time,and pessimistic time,respectively.

Refer to the figure.What is the expected completion time of activity A?

A)3
B)4
C)5
D)2)7
E)2)5

Question 14

Which of the following statements about project crashing is False?

A)The overall project time is reduced by crashing activities on one or more critical paths.
B)It is best to crash an activity with the cheapest cost to crash per week.
C)As activities are crashed in a project network,it is possible for more than one path to be critical.
D)In order to reduce the overall project time,it may be necessary to crash more than one activity.
E)Project crashing problems can be solved using linear programming.

Question 15

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.What is the slack time,in days,associated with activity E?

A)1
B)2
C)0
D)3
E)4

Question 16

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.How long will take to complete the project?

A)15 days
B)14 days
C)13 days
D)12 days
E)11 days

Question 17

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.What are the immediate successor(s)of activity C?

A)D
B)E
C)D and E
D)A
E)B and D

Question 18

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)PERT project.The three values that represent each activity's completion time (in days)correspond to an optimistic time,most likely time,and pessimistic time,respectively.

Refer to the figure.What is the probability of completing the project within 18 days?

A)0)0668
B)0)4332
C)0)9332
D)0)4878
E)0)0122

Question 19

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.Suppose that additional resources are provided to crash the project completion time below its expected normal completion time.Which activities would be potential candidates for crashing?

A)B
B)D
C)A and B
D)A and D
E)F

Question 20

Use this information to answer the following questions.
Consider the following Activity-On-Node (AON)project (activity completion times are in days).

Refer to the figure.What are the immediate predecessor(s)of activity D?

A)B and C
B)B
C)C
D)C and E
E)B and E

Question 21

All activities on the critical path have zero slack.

Question 22

The crash cost per period is computed as: (crash cost - standard cost)/(standard time - crash time).

Question 23

Use this information to answer the following questions.
Consider the following set of activities.

Using the data above,develop a network for this project.

Question 24

Project scheduling is the phase that involves identifying required resources and precedence relationships between activities.

Question 25

In managing project costs,a weekly budget is only formed using EST values.

Question 26

Use this information to answer the following questions.
Jamie is planning a trip overseas.A variety of activities must be completed before her departure.The following table describes the relationships between these activities.

Using this data above,develop a network for this project.

Question 27

In an Activity-On-Node (AON)network,arcs denote activities.

Question 28

Use this information to answer the following questions.
Jamie is planning a trip overseas.A variety of activities must be completed before her departure.The following table describes the relationships between these activities.

Refer to the information above.Jamie was able to estimate the activity times as shown in the table below.
a.Calculate the earliest and latest start and finish times for each activity.

b.Calculate the slack for each activity.
c.Determine the critical path.
d.Determine the length of the project.

Question 29

The Critical Path Method (CPM)is appropriate for projects where the time required to perform each activity is a random variable.

Question 30

Any activity in the project network can be crashed in order to reduce the overall expected completion time.

Question 31

To find the expected activity time,t,the Beta distribution weighs a,m,and b equally.

Question 32

Crashing activities can lead to the formation of more than one critical path in a project network.

Question 33

Dummy activities may be needed in Activity-On-Node networks to preserve precedence relationships between activities.

Question 34

Using the forward pass,the Early Start time (EST)and Early Finish time (EFT)for each activity are determined.

Question 35

Use this information to answer the following questions.
Consider the following set of activities that must be completed in order to prep a new home for painting.

Refer to the information above.Assume that the painters were able to estimate the activity times as shown in the table below.

a.Calculate the slack for each activity.
b.Calculate the earliest and latest start and finish times for each activity.
c.Determine the critical path.
d.Determine the length of the project.

Question 36

Using the backward pass,we can compute the Late Finish time (LFT)and Early Finish time (EFT)for each activity.

Question 37

Slack for a given activity is computed as Late Finish minus Early Finish.

Question 38

In minimizing total crashing costs,it is best to first crash the activity in a project network with the cheapest cost to crash per period.

Question 39

Use this information to answer the following questions.
Consider the following set of activities that must be completed in order to prep a new home for painting.

Using this data above,develop a network for this project.

Question 40

PERT is a probabilistic technique,whereas CPM is a deterministic technique.

Question 41

Use this information to answer the following questions.
Consider the following set of activities that need to be completed by a chef to cook dinner for a party of 30 guests.

Using the data above,develop a network for this project.

Question 42

Suppose that the amount of time it takes to process insurance claims is normally distributed with a mean of 12 weeks and a variance of 9 weeks.Find the number of weeks which the insurance company is
a.99% sure the next claim will be completed by.
b.95% sure the next claim will be completed by.
c.90% sure the next claim will be completed by.
d.80% sure the next claim will be completed by.

Question 43

Use this information to answer the following questions.
Consider the following set of activities.

Using the data above,develop a network for this project.

Question 44

Suppose that the amount of time it takes to process insurance claims is normally distributed with a mean of 12 weeks and a variance of 9 weeks.What is the probability that the next claim will be processed within
a.10 weeks?
b.11 weeks?
c.12 weeks?
d.23 weeks?

Question 45

A company is faced with a project of implementing a new ERP system.The information on activity precedence,time,and cost is given below (time in weeks).

The company would like to determine which activities to crash and by how much in order to
complete the ERP implementation in 24 weeks.Using linear programming and Excel Solver,find
the best solution

Question 46

Use this information to answer the following questions.
Consider the following set of activities that need to be completed by a chef to cook dinner for a party of 30 guests.

Refer to the information above.Assume that the chef was able to estimate the number of hours needed to complete each activity as follows.

a.Use PERT to identify the expected time and variance for each activity.
b.What is the critical path?
c.What is the expected time and variance of the critical path?
d.Determine the expected completion time of the project.

Question 47

Use this information to answer the following questions.
A university needs to prepare a banquet for its graduating seniors.The following information describes the relationships between the activities that need to be completed for this banquet.

Using the data above,develop a network for this banquet.

Question 48

Use this information to answer the following questions.
Consider the following set of activities that need to be completed by a chef to cook dinner for a party of 30 guests.

Refer to the information above.Assume that the chef was able to estimate the number of hours needed to complete each activity as follows.

Determine the probability that the project will be completed in
a.Less than 14 hours.
b.Greater than 14 hours.
c.Less than 17 hours.
d.Greater than 17 hours.

Question 49

Use this information to answer the following questions.
A university needs to prepare a banquet for its graduating seniors.The following information describes the relationships between the activities that need to be completed for this banquet.

Refer to the information above.Assume that the catering manager was able to estimate the number of hours needed to complete each activity as follows.

Determine the probability that the project will be completed in
a.Less than 25 hours.
b.Greater than 25 hours.
c.Less than 27 hours.
d.Greater than 27 hours.

Question 50

Use this information to answer the following questions.
Consider the following set of activities.

Refer to the information above.Assume that that time required to complete each activity is as follows.

a.Calculate the slack for each activity.
b.Calculate the earliest and latest start and finish times for each activity.
c.Determine the critical path.
d.Determine the length of the project.

Question 51

Use this information to answer the following questions.
Consider the following set of activities.

Assume that that time required to complete each activity is as follows.

a.Calculate the slack for each activity.
b.Calculate the earliest and latest start and finish times for each activity.
c.Determine the critical path.
d.Determine the length of the project.

Question 52

Use this information to answer the following questions.
A university needs to prepare a banquet for its graduating seniors.The following information describes the relationships between the activities that need to be completed for this banquet.

Refer to the information above.Assume that the catering manager was able to estimate the number of hours needed to complete each activity as follows.

a.Use PERT to identify the expected time and variance for each activity.
b.What is the critical path?
c.What is the expected time and variance of the critical path?
d.Determine the expected completion time of the project.