MGMT 345 Chapter 4 SmartBook

The crash-cost per day (or other time unit) is calculated using which of the following formulas?

(CC - NC) / (NT - CT)

At what point in the project planning process is the organizational structure of the project decided?

- Before the Project Begins

Which of the following are advantages of the matrix form of project organization?

- Duplication of resources is minimized. - Team members have a functional "home" after project completion. - Policies of the parent organization are followed - A project manager is held responsible for successful completion of the project. - Communication between functional divisions is enhanced.

Which of the following are advantages of the functional project organizational structure?

- Functional-area experts creates synergistic solutions to technical problems. - The functional area is a home after the project is completed. - Technical expertise is maintained within the functional area - A team member can work on several projects

Which project organizational structure minimizes the duplication of resources?

- Matrix

A project ___________ is a specific event in a project.

- Milestone

Which of the following are resources controlled by project management?

- People - Material - Equipment

Which of the following is not a resource considered in project management?

- Place resources considered in project management include: 1) people 2) equipment 3) material

What are the essential features of any earned value management (EVM) system?

- Predefined earning or costing rules to quantify the accomplishment of work. - A project plan that identifies the activities to be accomplished. - A valuation of each activity work. In the case of a project that generates revenue.

Which of the following is defined as a series of jobs usually directed toward some major output and requires a significant period of time to perform?

- Project

A specific event that should be reached at a certain point in time are often referred to as?

- Project Milestone

When breaking down a project, what term is used to describe these subdivisions?

- Task and Subtasks

Which of the following are disadvantages for pure projects?

- Team members worry about their job once the project is over - Organizational goals and policies are ignored. - Duplication of resources. - The organization falls behind in its knowledge of new technology.

Which of the following are advantages of a pure project?

- The Project Manager has Full Authority Over the Project - Team Members Report to One Boss - Lines of Communication are Shortened - Team pride, Motivation and Commitment are High

Project managers are as much concerned with the ______ to complete a project as with the _______ to complete the project.

- cost - time

What are the points in time that we need to calculate for each activity in the project?

- early finish time - late finish time - early start time - late start time

Which of the following are required for a project?

- having a major output - requires significant amount of time - series of related jobs

Crashing creates a _____ project that costs _____.

- shorter - more

Which of the following can be part of a statement of work?

- work to be done - objectives to be achieved - performance measures - proposed schedule

All of the following are types of project organizational structures except

-Process Three Project Organizational Structures include: 1) Pure Project 2) Functional Project 3) Matrix Project

Place the following project terms in order from longest to shortest.

1) Work Breakdown Structure 2) Task 3) Subtask 4) Work Package 5) Milestone

When calculating the expected completion time for an activity using the formula based on the beta statistical distribution, the most likely time is weighted ____ times more than the optimistic and pessimistic times.

4

The expected completion time is computed as (a+Xm+b)/Y What are the values of X and Y respectively.

4,6

What is the major assumption when determining the cost per unit of time to expedite each activity.

A linear relationship between time and cost

_______ refers to the compression or shortening of the time to complete the project.

Crashing

________ is based on the assumptions that project activity times can be estimated accurately and that they do not vary.

Critical Path Method

The __________ activity time is calculated using a weighted average of a minimum, maximum, and most likely time estimate.

Estimated

True or false: There are relatively few project management software options for practitioners.

FALSE

True or false: A firm should have a mix of projects that best supports it's strategy.

TRUE

True or false: An advantage of a functional project is that team members can work on multiple projects at once.

TRUE

True or false: When all the activities are completed, the project is finished.

TRUE

rue or false: The hierarchy of project tasks, subtasks and work packages is known as a work breakdown structure.

TRUE

The completion of all __________ is required to complete the project.

activities

Which of the following is a term used to refer to pieces of work that consume time?

activity

The early finish is calculated by

adding the early start and duration

Gantt charts show which of the following?

amount of time and sequence of activities

When calculating activity variance, what is X in the following calculation? (X/6)^2

b-a

A Gantt chart is sometimes referred to as what?

bar chart

Which of the following is not a step in CPM?

calculate the shortest path CPM steps include: 1) Identify all the activities in the project 2) Determine the sequence of activities 3) Calc the critical path 4) Determine the early start/finish and late start/finish schedule

Time-cost models attempt to develop a minimum- _________ schedule for an entire project.

cost

How many milestones does a project have?

depends on the project

A schedule that lists all activities by their early start times is a(n)

early start schedule

Which technique combines measures of scope, schedule and cost for evaluating project progress?

earned value management

When working on time-cost trade-off projects, which of the following pieces of information is not required?

expected time required information includes: - normal cost - crash cost - normal time - crash time

CPM techniques owe their development to the _______ chart.

gantt

A _____________ shows in a graphic manner the amount of time involved and the sequence in which activities can be performed. Listen to the complete question

gantt chart

For the schedule and cost performance indices, __________ than one is generally good.

greater

For the schedule and cost variances, _________ than zero is generally good.

greater

The assumption needed to make this probability estimate is that the activity duration times are _________ random variables.

independent

The costs associated with sustaining a project are referred to as

indirect costs

A project has how many critical paths?

it is possible to have multiple critical paths

When calculating the slack time of an activity, it is the difference between an activity's

late start and early start times

When crashing a project, the first activity your crash should be

on the critical path with the lowest crash cost per day.

Which of the following is not a direct activity cost?

overhead includes: - support facilities - overtime work - leasing equipment

The three-time-estimate approach introduces the ability to consider the _______ that a project will be completed within a particular amount of time.

probability

For some activities in a project there may be some leeway in when an activity can start and finish. This is called the

slack time

Completion of one or more work packages results in the completion of a ______

subtask

The work breakdown structure is further subdivided into _____

task

The critical path is

the longest chain of activities in a project.

Activity A is a predecessor for Activities B and C. When determining the late finish time for Activity A, you select

the smaller of the late starts for B and C

When a single time estimate of an activity completion time is not reliable, you should use

three time estimates

The extension of the critical path model that considers trade-offs between activity times and costs is often referred to as

time-cost models.

In a project, which of the following has the shortest duration?

work package

What term describes the group of activities assigned to a single organizational unit?

work package

Which of the following is the formula for the variance of an activity?

σ2 = ((b - a) / 6)^2

A big competitor to Microsoft Project is

Primavera Project Planner

Which of the following is not a major development project category?

Product Development *major development project categories include:* 1) product change 2) process change 3) research and development 4) alliance and partnership