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Exam 16: Project Management

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Question 61

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Consider a project having the following seven activities: (a) What is the expected time for each activity? (b) What is the expected project completion time? (c) What is the critical path? (d) What is the variance for each activity? (e) What are the expected time and variance of each path? (f) What is the probability that the project will be completed in less than 24 weeks?

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(a) A - 3 weeks, B - 4.67 weeks, C - 5 w...

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Question 62

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For projects whose activities have probabilistic time estimates, the probability of completing the project in a specified amount of time is determined by __________________________.

A) the expected time for the critical path only
B) the standard deviation for the critical path only
C) the expected time and standard deviation for the critical path only
D) the expected times for all paths
E) the expected times and standard deviations for the critical path and paths whose expected times are close to that of the critical path

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Question 63

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Which phase in the project life cycle involves ending the project?

Crashing a schedule is reducing a project completion time by ___________________.

Joe's tower fabrication company client would like to know what the probability is of completing the project in 60 days rather than the 58 estimated days. Based on Z values what is the probability that Joes' tower fabrication will be able to meet the request if the variance is 1.25?

The critical path is the sequential path of interrelated activities which has the ____________________.

In making a forward pass through a network, activities L, M, and P are immediate predecessors for activity T, which has an activity time of 7. The early start times for activities L, M, and P are 22, 17, and 27, respectively. The early finish times for activities L, M, and P are 29, 27, and 33, respectively. What is the early finish time for activity T?

The purpose of change control boards is to review and prioritize changes during the course of a project.

In making a backward pass through a network, activity T immediately precedes three activities. What is the late finish time for activity T?

A project schedule is a tool used to communicate what work needs to be performed, which resources are used to perform the work, and when the work needs to be performed.

What are the benefits of network planning techniques?

Deterministic time estimate makes a _______________ time estimate for each project ___________.

Projects vary in terms of objectives but each has a _______________ of activities.

The last project activity ES and LS times are:

In critical path scheduling, slack is computed as the difference between ______________________.

A feeder buffer protects a ______ path from delays in a __________.

Consider a project having the following seven activities: (a) What is the expected project completion time? (b) What is the critical path? (c) What is the most economical way and how much will it cost to reduce the completion time of the project by three weeks? By five weeks?

What are the steps involved in using network planning techniques?

An activity in a network diagram has an optimistic time estimate of five days, a most likely time estimate of seven days, and a pessimistic time estimate of 15 days. Its expected time is _________________.

What are valid reasons for reducing the time spent finishing a particular project?