Deck 7: The Project Schedule and Budget

Question 1

A start-to-finish activity is the most common relationship between two activities.

Answer 1

False

Question 2

Parallel activities can shorten the project schedule,but can have an impact on project resources if a resource is assigned to two tasks at the same time.

Answer 2

True

Question 3

The PMBOK area called project cost management includes estimate costs,determine budget,and control costs.

Answer 3

True

Question 4

Start-to-Start and Finish-to-Finish relationships allow activities to be worked on in parallel.

Question 5

Identifying the critical path is important because any change in the duration of the activities or tasks on the critical path will affect the project's schedule.

Question 6

The project budget is determined by the project schedule,the cost of the resources assigned to each of the tasks,and by any other direct or indirect costs and reserves.

Question 7

The critical path has zero slack or float)

Question 8

The tool most closely associated with activity bars across a horizontal time axis is:

A)Project Network Diagrams
B)Gantt Charts
C)PERT
D)Activity on the Node
E)Critical Path Analysis

Question 9

Project network diagrams provide valuable information about the logical sequence and dependencies among the various activities and tasks so that a completion date or deadline can be determined.

Question 10

The critical path is the longest path in the project network and also is the shortest time in which the project can be completed.

Question 11

Sunk costs include such things as rent,utilities,insurance,and other administrative costs.

Question 12

Identifying the critical path is important because a project can only have one critical path and it never changes.

Question 13

The direct costs of using a resource is the only type of cost that should be considered when developing the project budget.

Question 14

A reserve can provide a cushion when unexpected situations arise.

Question 15

PERT was developed in the 1950s to create a visual representation of scheduled activities,their logical sequence,and interrelationships using a statistical probability distribution.

Question 16

Installing a server before loading the operating system is an example of a finish-to-start relationship.

Question 17

A parallel activity is a task that can be worked on at the same time as another activity.

Question 18

An over allocated resource would arise when Mary is assigned to work on two tasks scheduled at the same time.

Question 19

Predecessor activities are activities that can be worked on at the same time as another activity.

Question 20

The critical path is the shortest path in the project network and also is the longest time in which the project can be completed.

Question 21

Under the Precedence Diagramming Method,the situation which occurs when two activities can start at different times,have different durations,but are planned to be competed at the same time is called:

A)Finish-To-Start FS)
B)Start-To-Start SS)
C)Finish-To-Finish FF)
D)Start-To-Finish SF)
E)none of the above

Question 22

Adding resources to an activity to shorten the critical path is called_____

A)slacking.
B)floating.
C)diverting.
D)crashing.
E)fast tracking

Question 23

Under the Precedence Diagramming Method,the situation which occurs when a relationship between two tasks that can or must start at the same time is called:

A)Finish-To-Start FS)
B)Start-To-Start SS)
C)Finish-To-Finish FF)
D)Start-To-Finish SF)
E)none of the above

Question 24

_____ is considered the most useful and widely used project management tool.

A)Project Network Diagrams
B)Gantt Charts
C)PERT
D)Activity on the Node
E)Critical Path Analysis

Question 25

The technique used to help manage the Polaris submarine project and which bases activity estimates on probabilistic estimates of three scenarios is most closely associated with:

A)Project Network Diagrams
B)Gantt Charts
C)PERT
D)Activity on the Node
E)Critical Path Analysis

Question 26

Under the Precedence Diagramming Method,the least common relationship between two activities which occurs when they must complete at the same time is called:

A)Finish-To-Start FS)
B)Start-To-Start SS)
C)Finish-To-Finish FF)
D)Start-To-Finish SF)
E)none of the above

Question 27

An activity being analyzed under PERT was judged to most likely have a duration of 40 days.When considering the time it would take to complete the activity if every relevant factor went well,it was estimated to be able to be doable in 20 days and even under the worst case imaginable,the task would be take 50 days.The estimates PERT duration of that activity is:

A)36.67 days
B)38.33 days
C)37.50 days
D)28.33 days
E)32.67 days

Question 28

Under the Precedence Diagramming Method,the situation which occurs when task A cannot end until task B starts is called:

A)Finish-To-Start FS)
B)Start-To-Start SS)
C)Finish-To-Finish FF)
D)Start-To-Finish SF)
E)none of the above

Question 29

The amount of time an activity can be delayed before affecting the project deadline is _____

A)slack
B)crash
C)fast-track
D)diversion
E)delay in any activity will delay the project

Question 30

_____ can be useful for tracking and monitoring project progress because because they are simple and straightforward.

A)Project Network Diagrams
B)Gantt Charts
C)PERT
D)Activity on the Node
E)Critical Path Analysis

Question 31

_____ can help manage the Critical Path by providing information about which activities can be delayed without affecting the deadline target date.

A)Work Breakdown Schedule
B)Gantt Charts
C)PART
D)Project Network Diagrams
E)Critical Path Analysis

Question 32

Waiting to leave your shift until another person shows up is an example of:

A)Finish-To-Start FS)
B)Start-To-Start SS)
C)Finish-To-Finish FF)
D)Start-To-Finish SF)
E)none of the above

Question 33

_____ provide valuable information about the logical sequence and dependencies among the various activities and tasks:

A)Work Breakdown Schedule
B)Gantt Charts
C)PART
D)Project Network Diagrams
E)Critical Path Analysis

Question 34

The Critical Path is:

A)the longest path in the project network.
B)the shortest path in the project network.
C)the longest time in which the project can be completed.
D)the interrelationships of project activities.
E)the most important identified tasks within the project.

Question 35

Starting the next task before the first task is complete is _____

A)lead
B)lag
C)negative lead
D)slack
E)float

Question 36

The technique used to find the sequence of tasks with zero slack or float)is most closely associated with:

A)Project Network Diagrams
B)Gantt Charts
C)PERT
D)Activity on the Node
E)Critical Path Analysis

Question 37

Installing the operating system on a computer before loading any application packages is an example of:

A)Finish-To-Start FS)
B)Start-To-Start SS)
C)Finish-To-Finish FF)
D)Start-To-Finish SF)
E)none of the above

Question 38

Completing activities in parallel is called_____

A)slacking.
B)floating.
C)diverting.
D)crashing.
E)fast tracking

Question 39

Under the Precedence Diagramming Method,the most common relationship between two activities which implies a logical sequence is called:

A)Finish-To-Start FS)
B)Start-To-Start SS)
C)Finish-To-Finish FF)
D)Start-To-Finish SF)
E)none of the above

Question 40

_____ is well suited for developing simulations where the project manager can conduct sensitivity analysis for schedule planning and risk analysis.

A)Project Network Diagrams
B)Gantt Charts
C)PERT
D)Activity on the Node
E)Critical Path Analysis

Question 41

The final step in determining the cost of an activity is:

A)determine necessary resources.
B)determining resource quantity
C)determining the cost of each resource
D)ensuring resources are leveled
E)none of the above

Question 42

What is meant by slack or float)?

Question 43

How can parallel activities help shorten the project schedule? Are there any trade-offs?

Question 44

Critical Chain Project Management CCPM)is based on the idea that

A)people often inflate or add cushioning to their time estimates
B)PERT/CPM was developed in the 1950s so it is too old to be of any use
C)Precedence Diagramming only considers the critical path of a project
D)all of the above
E)none of the above

Question 45

_____is ensuring that project resources are not overallocated.

A)Resource leveling
B)Resource constraining
C)Resource starving
D)Resource management
E)Resource addition

Question 46

The cost of labor for using a resource are _____

A)Direct Costs
B)Indirect Costs
C)Sunk Costs
D)Learning Curve Costs
E)Reserves Costs

Question 47

To make a decision to attempt to build an application system based on what was left after a previous attempt ended in failure primarily because of the large investment the company made in the failed project most likely was made by a manager who did not fully understand:

A)Direct Costs
B)Indirect Costs
C)Sunk Costs
D)Learning Curve Costs
E)Reserves Costs

Question 48

Funds allocated for unexpected expenses are _____

A)Direct Costs
B)Indirect Costs
C)Sunk Costs
D)Learning Curve Costs
E)Reserves Costs

Question 49

Describe the PMBOK area of project cost management.

Question 50

Rent,utilities,insurance and administrative costs are examples of:

A)Direct Costs
B)Indirect Costs
C)Sunk Costs
D)Learning Curve Costs
E)Reserves Costs

Question 51

Scheduling other projects so that resources may be shared is_____

A)Critical Chain Project Management
B)Precedence Diagramming
C)PERT
D)Theory of Constraints
E)Critical Path Analysis

Question 52

Rolling wave planning is:

A)developing a large plan encompassing all project items.
B)including the highest level of detail in project plans
C)preparing a summary plan and developing incremental detailed schedules
D)all of the above
E)none of the above

Question 53

What is the difference between crashing and fast tracking a project's schedule?

Question 54

Define the following and give a real world example of each other than the ones described in this book): Finish-to-Start;Start-to-Start;Finish-to-Finish;Start-to-Finish.

Question 55

Costs incurred prior to the current project are _____

A)Direct Costs
B)Indirect Costs
C)Sunk Costs
D)Learning Curve Costs
E)Reserves Costs

Question 56

Time and effort needed to gather experience on a technology or process are _____

A)Direct Costs
B)Indirect Costs
C)Sunk Costs
D)Learning Curve Costs
E)Reserves Costs

Question 57

The idea that there is a cost associated with using a resource is _____

A)Prorated Costs
B)Indirect Costs
C)Sunk Costs
D)Learning Curve Costs
E)Reserves Costs

Question 58

In the context of critical chain project management,what is resource contention?

Question 59

Why do many people inflate their estimates?

Question 60

Define predecessor,successor,and parallel activities.Give a real world example of each.

Question 61

Why should assumptions used in estimating be documented?

Question 62

Why should the project manager ensure that the project resources are leveled?

Question 63

What does prorating the cost of a resource mean?

Question 64

What is a baseline plan?