MGT 303 exam 2
The crash-cost per day (or other time unit) is calculated using which of the following formulas?
(CC - NC) / (NT - CT)
Which of the following is the formula for the variance of an activity?
(b−a/6)^2
Critical Path Method steps
1. identify each activity to be done and estimate how long it will take 2. determine the required sequence and construct a network diagram 3. determine the critical path 4. determine the early start/finish and late start/finish schedule
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
advantages of the matrix form of project organization
A project manager is held responsible for successful completion of the project. Duplication of resources is minimized. Policies of the parent organization are followed Team members have a functional "home" after project completion. Communication between functional divisions is enhanced.
Statement of work
A written description of the objectives to be achieved
Which of the following types of projects represents the least amount of change?
Derivative projects
What are the points in time that we need to calculate for each activity in the project?
Late finish time Late start time Early start time Early finish time
____ was developed to handle uncertain time estimates.
PERT
Which of the following are resources controlled by project management?
People, equipment, materials
What are the essential features of any earned value management (EVM) system?
Predefined earning or costing rules to quantify the accomplishment of work. A valuation of each activity work. In the case of a project that generates revenue. A project plan that identifies the activities to be accomplished.
Advantages of the functional project organizational structure
The functional area is a home after the project is completed. A team member can work on several projects. Technical expertise is maintained within the functional area. Functional-area experts creates synergistic solutions to technical problems.
Pure project advantages
The project manager has full authority Team members report to one boss Shortened communication lines Team pride, motivation, and commitment are high
project terms in order from longest to shortest
Work breakdown structure Tasks subtasks work package milestone
Which of the following is the formula for the expected completion time for an activity? Multiple choice question.
a+4m+b/6
When calculating the probability of project completion, you use the sum of variances of ___________ in the denominator.
activities on the critical path
The early finish is calculated by
adding the early start and duration
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
When a project is housed within a functional division, such as manufacturing, it is called a ________ project.
functional
The costs associated with sustaining a project are referred to as
indirect costs
How many milestones does a project have?
it depends on the project
If a delay of one activity delays the entire project, then this activity
it is on the critical path
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
All of the following are constraints addressed in project management except:
people
The procedure for project crashing consists of the following five steps. Place them in the correct order.
prepare a CPM type network diagram determine the cost per unit Compute critical path Shorten critical path at least cost Plot project direct...
Crashing creates a _____ project that costs _____.
shorter, more
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
The extension of the critical path model that considers trade-offs between activity times and costs is often referred to as
time-cost models.
cost variance
BCWP - AC
Matrix Disadvantages
It is doomed to failure unless the project manager has strong negotiating skills. There are two bosses. Suboptimization is a danger.
Statement of work components
Proposed schedule Work to be done Performance measures Objectives to be achieved
For some activities in a project there may be some leeway in when an activity can start and finish. This is called the Multiple choice question.
Slack time
Which of the following is not one of the three general factors for developing a new service?
Strategic fit
disadvantages for pure projects
Team members worry about their job once the project is over. Organizational goals and policies are ignored. The organization falls behind in its knowledge of new technology. Duplication of resources.