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Exam 17: Project Management

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Question 21

Multiple Choice

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Activity 4-5 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 10 days.Its expected time is approximately:

A) 5
B) 6
C) 7
D) 8
E) 9

F) All of the above
G) A) and D)

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Question 22

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Shortening activity durations is called:

A) Expediting
B) Crashing
C) Vendor management
D) Null nodes
E) Trade-off analysis

F) B) and C)
G) B) and D)

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Question 23

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Path probabilities are calculated by dividing path mean by path standard deviations.

What is the estimated slack time for activity D?

What is the total cost of reducing this project by two weeks?

What is the critical path for this project network?

The costs associated with risk events tend to be lower near the beginning of a project, and higher near the end of the project.

Which of the following is not characteristic of good risk management?

A method used for establishing a logical framework for identifying the required activities for the project is called:

An advantage of Gantt charts in project management is that they identify which activities can be delayed without delaying the overall project.

Project management software eliminates conflicts when there are shared resources.

The higher the node number, the longer the activity will take.

The critical path for the network shown is:

Which of the following is not true about the use of dummy activities in project networking?

In the project network presented below, numbers on each arrow refer to the expected time and standard deviation in weeks for that particular activity.For example, "8,2" indicates an activity with an expected time of 8 and a standard deviation of two weeks.

Consider the portion of a project depicted by this graph: What is the latest start time of activity 6-7 if the latest finish of activity 7-8 is 26, and the latest finish of activity 7-9 is 23?

One way that project management differs from management of more traditional activities is because of the limited lifetime of projects.

What is the estimated expected (mean) time for project completion?

What is the estimated standard deviation in the time for activity E?

What is the estimated expected (mean) time for Activity E?