Question 1

Calculating the early start and early finish times for each activity in a CPM analysis does not provide any useful information.

Accepted Answer

Calculating the early start and early finish times for each activity in a CPM analysis is important because it helps in identifying the critical path and determining the project duration. It also helps in scheduling the activities and resources effectively.

Question 2

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

Accepted Answer

Earned value management (EVM) integrates measurements of scope, schedule, and cost to provide a comprehensive view of a project's performance. It allows project managers to track the progress of a project in terms of how much work has been accomplished, how much it has cost, and how close it is to completion.

Question 3

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.

Accepted Answer

When reducing the planned duration of a project using the time-cost CPM model, we select the activity to crash by comparing the additional cost of each alternative with the corresponding decrease in time and selecting the one with the lowest cost per unit of time reduction.

Question 4

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

Accepted Answer

The Critical Path Method (CPM) assumes that project activities have well-defined and clear starting and ending points, which are necessary to establish the sequence and dependencies of activities.

Question 5

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

Accepted Answer

CPM requires that the project activities have a defined sequence relationship and can be represented in a network diagram.

Question 6

A project milestone is a specific event to be reached by a particular point in time.

Accepted Answer

A project milestone is a specific event or point in time that needs to be achieved by a certain date or time. It serves as a way to measure progress and ensure that the project is on track to meet its goals.

Question 7

The project indirect costs associated with a project include overhead, facilities, and resource opportunity costs.

Accepted Answer

Indirect costs are additional expenses incurred during a project that are not directly related to the production of goods or services. Examples of indirect costs include overhead such as rent, utilities, and insurance, facilities such as equipment and maintenance, and opportunity costs such as lost revenue from not pursuing other projects during the duration of the current project.

Question 8

In the time-cost CPM model, cost is assumed to be a linear function of time.

Accepted Answer

The time-cost CPM model assumes that cost is directly proportional to time, and therefore cost is a linear function of time.

Question 9

Derivative projects are those that address incremental changes to products or processes.

Accepted Answer

Derivative projects aim to make small improvements or modifications to existing products or processes.

Question 10

Using the time-cost CPM model, the crash time is the shortest possible time allowed for each activity in the project.

Accepted Answer

In the time-cost CPM model, the crash time is the shortest possible time allowed for each activity in the project. This is achieved by expending additional resources and incurring an additional cost.

Question 11

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.

Accepted Answer

Transferring workers to another job incurs direct costs, as these costs are directly attributable to the action of transferring workers and not spread across multiple projects or activities.

Question 12

Project management software available today combines CPM and other scheduling aids, like Gantt charting, to aid in tracking progress of project completion.

Accepted Answer

Project management software commonly includes both Critical Path Method (CPM) and Gantt chart features to assist with tracking project progress.

Question 13

The critical path in a CPM analysis is found by locating the activities times with zero slack.

Accepted Answer

The critical path is found by identifying the activities with zero slack, meaning they cannot be delayed without delaying the overall project completion time.

Question 14

Earned value management (EVM) is a technique for measuring project progress in an objective manner.

Accepted Answer

EVM uses specific formulas to compare the actual work completed and the resources used to the planned work and resource usage, providing an objective measurement of project progress.

Question 15

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

Accepted Answer

The answer of Breakthrough projects are those that provide fundamental...

Question 16

The valuations in an earned value management analysis must be either profits or revenue.

Accepted Answer

The valuations in an earned value management analysis are not limited to profits or revenue. The analysis can also include costs, schedule performance, and other metrics related to project performance.

Question 17

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

Accepted Answer

This statement is true. Slack time is the amount of time a task can be delayed without delaying the entire project schedule. It is calculated by subtracting the early finish from the late finish or by subtracting the early start from the late start.

Question 18

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

Accepted Answer

This is correct. The difference between late start and early start is the amount of time the activity can be delayed without affecting the project duration, which is known as slack time.

Question 19

A project can be subdivided into which of the following?
A)Job orders
B)Sub-jobs
C)Work packages
D)Sub-paths
E)Events and decisions

Accepted Answer

A project can be subdivided into work packages, which are smaller components of the project that can be more easily managed and tracked. Job orders, sub-jobs, sub-paths, events and decisions are not commonly used terms for dividing a project.

Question 20

The activity direct costs associated with a project might include giving workers overtime to complete a project in less than the expected time.

Accepted Answer

Overtime pay for workers is a direct cost associated with the activity of completing a project in less than the expected time. It is a direct cost because it can be specifically linked to the activity and is necessary for the completion of the project.

Quiz 4: Project Management