Project Management
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Project Management

Course Number: ACCOUNTING 501, Fall 2013

College/University: Punjab Engineering College

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CHAPTER 13 Project Management TRUE/FALSE 13.1 PERT and CPM are quantitative analysis tools designed to schedule and control large projects. ANSWER: TRUE 13.2 PERT is a deterministic analysis tool allowing for precise times of activities within a project. ANSWER: FALSE 13.3 PERT had its beginnings in a military department of the United States. ANSWER: TRUE 13.4 CPM is a probabilistic analysis of managing a...

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13 Project CHAPTER Management TRUE/FALSE 13.1 PERT and CPM are quantitative analysis tools designed to schedule and control large projects. Register to View Answer 13.2 PERT is a deterministic analysis tool allowing for precise times of activities within a project. Register to View Answer 13.3 PERT had its beginnings in a military department of the United States. Register to View Answer 13.4 CPM is a probabilistic analysis of managing a project. Register to View Answer 13.5 An event is a point in time that marks the beginning or ending of an activity. Register to View Answer 13.6 A network is a graphical display of a project that contains both activities and events. Register to View Answer 13.7 The optimistic time is the greatest amount of time that could be required to complete an activity. Register to View Answer 13.8 PERT is a network technique similar to CPM, but PERT allows for project crashing. Register to View Answer 13.9 The most likely completion time of an activity is used to represent that activitys time within a project. Register to View Answer 13.10 The expected completion time and variance of an activity is approximated by the normal distribution in a PERT analysis. Register to View Answer 13.11 PERT was developed for a project for which activity or task times were uncertain. Register to View Answer 13.12 CPM was developed for use in managing projects which are repeated and about which we have good information as to activity or task completion times. 148 Project Management l CHAPTER 13 Register to View Answer13.13 With PERT, we are able to calculate the probability of finishing the project on a particular day. Register to View Answer 13.14 With CPM, we are able to calculate the probability of finishing the project on a particular day. Register to View Answer 13.15 A PERT or CPM network shows activities and activity sequences. Register to View Answer 13.16 One of the most difficult aspects of using PERT is defining the activities so that they have measurable/observable starts and finishes. Register to View Answer 13.17 Before drawing a PERT or CPM network, we must identify each activity and their predecessors. Register to View Answer 13.18 The three time estimates employed in PERT are: optimistic time, average time, and pessimistic time. Register to View Answer 13.19 In the PERT process, if an activity has zero variance it must be on the critical path. Register to View Answer 13.20 Given the variability of the activity completion time, the original critical path we identify in our PERT analysis may not always be the actual critical path as the project takes place. Register to View Answer 13.21 In PERT, the activity completion times are modeled using the beta distribution. Register to View Answer 13.22 In PERT, the earliest finish time in one activity will always be the earliest start time of the following activity. Register to View Answer 13.23 In PERT, the earliest start time for an activity is equal to the latest of the earliest finish times of all of its immediate predecessors. 149 Project Management l CHAPTER 13 Register to View Answer13.24 One of the limiting assumptions of PERT is that for any activity to start, all of its immediate predecessors must be complete. Register to View Answer 13.25 One of the limiting assumptions of PERT is that all activities must be completed at some time during the project. Register to View Answer 13.26 One of the most significant benefits of PERT is that it forces the project manager to sit down and plan the project in great detail and thus come to an understanding of relationships between the activities. Register to View Answer 13.27 Slack is the time an activity can be delayed without impacting the completion time of the project. Register to View Answer 13.28 It is never possible to delay an activity without impacting the project completion time. Register to View Answer 13.29 The variance of the project completion time is equal to the sum of the variances of all the activities. Register to View Answer 13.30 In PERT, we assume that the project completion time can be modeled by the normal distribution. Register to View Answer 13.31 One PERT/COST assumption is that money is spent at a constant rate over the time taken to complete an activity. Register to View Answer 13.32 PERT helps the project manager understand both which activities must take place and which funds must be expended. Register to View Answer 13.33 A limitation of PERT/COST is the assumption that money is spent at a constant rate over the time taken to complete the project. Register to View Answer 13.34 In CPM, we assume that the cost to complete the task is a linear function of the time to 150 Project Management l CHAPTER 13 complete the task. Register to View Answer13.35 In CPM, crashing an activity which is not on the critical path increases the cost of the project. Register to View Answer 13.36 In CPM, if we are going to crash an activity, we should crash it to the maximum extent possible. Register to View Answer *13.37 In CPM, crashing an activity which is not on the critical path reduces the cost of the project just as much as crashing one on the critical path. Register to View Answer *13.38 One of the drawbacks to using either CPM or PERT to manage an actual project is the amount of data that must be collected over the life of the project to implement either method. Register to View Answer *13.39 In PERT, the variance in completion time is equal to the variance of the most time consuming activity on the critical path. Register to View Answer *13.40 Given the assumptions in PERT, the probability that a project will be completed in less time than required by the activities on the critical path is approximately 50%. Register to View Answer *13.41 One should always wait until an activitys latest start time before commencing the activity. Register to View Answer *13.42 Using PERT/COST, one is able to complete the project for less money than using PERT alone. Register to View Answer 151 Project Management l CHAPTER 13 *13.43 If an activity has 4 days of slack, and we delay it 2 days, the project will also be delayed two days. Register to View Answer *13.44 Gantt and PERT charts provide the same information, just in different formats. Register to View Answer *13.45 Gantt charts contain information as to the time taken by each activity, but not the sequential dependencies of the activities. Register to View Answer *13.46 Using PERT/COST as a management tool, it is always possible to bring a project in under budget. Register to View Answer MULTIPLE CHOICE 13.47 The critical path of a network is the (a) (b) (c) (d) (e) shortest time path through the network. path with the fewest activities. path with the most activities. longest time path through the network. none of the above Register to View Answer13.48 In a PERT network, the earliest (activity) start time is the (a) (b) (c) (d) (e) earliest time that an activity can be finished without delaying the entire project. latest time that an activity can be started without delaying the entire project. earliest time that an activity can start without violation of precedence requirements. latest time that an activity can be finished without delaying the entire project. none of the above Register to View Answer 152 Project Management l CHAPTER 13 13.49 Slack time in a network is the (a) (b) (c) (d) (e) time consuming job or task that is a key subpart of the total project. shortest amount of time that could be required to complete the activity. amount of time that you would expect it would take to complete the activity. amount of time that an activity can be delayed without delaying the entire project. none of the above Register to View Answer13.50 A network activity is a (a) (b) (c) (d) (e) point in time that marks the beginning or ending of an activity. time consuming job that is a subpart of the total project. graphical display of a project. network technique that allows three time estimates for each activity in a project. the longest time path through the network. Register to View Answer13.51 Which of the following is not a concept associated with CPM? (a) (b) (c) (d) (e) normal time probability normal cost crash cost deterministic network Register to View Answer13.52 PERT (a) (b) (c) (d) (e) assumes we do not know ahead of time what activities must be completed. allows computation of the programs evaluation. is a network technique that uses three time estimates for each activity in a project. is a deterministic network technique that allows for project crashing. none of the above Register to View Answer13.53 CPM (a) (b) (c) (d) (e) assumes we do not know ahead of time what activities must be completed. is opposite to that of PERT, as it does not consider the network activities. is a network technique that allows three time estimates for each activity in a project. is a deterministic network technique that allows for project crashing. none of the above Register to View Answer13.54 Managers use the network analysis of PERT and CPM to help them (a) derive flexibility by identifying noncritical activities. 153 Project Management l CHAPTER 13 (b) replan, reschedule, and reallocate resources such as manpower and finances. (c) plan, schedule, monitor, and control large and complex projects. (d) all of the above Register to View Answer13.55 In contrast to PERT or PERT/cost, CPM (a) (b) (c) (d) (e) is a deterministic network model. uses crash times and costs. allows for calculating the least additional cost for shortening the project time. assumes that the activity times and costs are known with certainty. all of the above Register to View Answer13.56 The expected time in PERT is (a) a weighted average of the most optimistic time, most pessimistic time, and four times the most likely time. (b) the modal time of a beta distribution. (c) a simple average of the most optimistic, most likely, and most pessimistic times. (d) the square root of the sum of the variances of the activities on the critical path. (e) none of the above Register to View Answer 13.57 Given the following activitys optimistic, most likely, and pessimistic time estimates of 4, 5, and 12 days, respectively, compute the PERT time for this activity. (a) (b) (c) (d) (e) 5 6 7 12 none of the above Register to View Answer 154 Project Management l CHAPTER 13 13.58 Given the following activitys optimistic, most likely, and pessimistic time estimates of 3, 3, and 9 days, respectively, compute the PERT time for this activity. (a) (b) (c) (d) (e) 3 4 5 9 none of the above Register to View Answer13.59 Given the following activitys optimistic, most likely, and pessimistic time estimates of 4, 8, and 18 days, respectively, compute the PERT time for this activity. (a) (b) (c) (d) (e) 4 8 9 18 none of the above Register to View Answer13.60 Given the following activitys optimistic, most likely, and pessimistic time estimates of 2, 10, and 20 days, respectively, compute the PERT variance for this activity. (a) (b) (c) (d) (e) 3 6 9 18 none of the above Register to View Answer13.61 Given the following activitys optimistic, most likely, and pessimistic time estimates of 4, 12, and 18 days, respectively, compute the PERT variance for this activity. (a) (b) (c) (d) (e) 2.33 5.44 8.00 64.00 none of the above Register to View Answer 155 Project Management l CHAPTER 13 13.62 Given an activitys optimistic, most likely and pessimistic time estimates of 3, 5, and 15 days, respectively, compute the PERT standard deviation for this activity. (a) (b) (c) (d) (e) 2 4 5 15 none of the above Register to View Answer13.63 Given the following small project, the critical path is _______ days. Activity A B C (a) (b) (c) (d) (e) Immediate Time Predecessor (days) 10 4 A, B 6 10 14 16 20 none of the above Register to View Answer13.64 Given the following small project, the critical path is _______ days. Activity A B C (a) (b) (c) (d) (e) Immediate Time Predecessor (days) 8 A 4 10 4 10 12 22 none of the above Register to View Answer 156 Project Management l CHAPTER 13 The following table provides information for questions 13.65 to 13.68. Table 13-1 The following represents a project with known activity times. All times are in weeks. Activity Immediate Time Predecessor A 4 B 3 C A 2 D B 7 E C, D 4 F B 5 13.65 Using the data in Table 13-1, what is the minimum possible time required for completing the project? (a) (b) (c) (d) (e) 8 14 25 10 none of the above Register to View Answer13.66 Using the data in Table 13-1, what is the latest possible time that C may be started without delaying completion of the project? (a) (b) (c) (d) (e) 0 4 8 10 none of the above Register to View Answer13.67 According to Table 13-1, compute the slack time for activity D. (a) (b) (c) (d) (e) 0 5 3 6 none of the above Register to View Answer 157 Project Management l CHAPTER 13 13.68 Using the data in Table 13-1, compute the latest finish time for activity E. (a) (b) (c) (d) (e) 4 10 14 25 none of the above Register to View AnswerThe following table provides information for questions 13.69 to 13.72. Table 13-2 The following represents a project with four activities. All times are in weeks. Activity Immediate Optimistic Most Pessimistic Predecessor Time Likely Time Time A 2 8 14 B 8 8 8 C A 6 9 18 D B 5 11 17 13.69 According to the data in Table 13-2, what is the critical path? (a) (b) (c) (d) (e) A, B A, C B, D A, B, C, D none of the above Register to View Answer13.70 According to the data in Table 13-2, what is the minimum expected completion time for the project? (a) (b) (c) (d) (e) 18 19 37 11 none of the above Register to View Answer 158 Project Management l CHAPTER 13 13.71 According to Table 13-2, there are four activities in the project. Assume the normal distribution is appropriate to use to determine the probability of finishing by a particular time. If you wished to find the probability of finishing the project in 20 weeks or less, it would be necessary to find the variance and then the standard deviation to be used with the normal distribution. What variance would be used? (a) (b) (c) (d) (e) 2 4 8 12 none of the above Register to View Answer13.72 According to Table 13-2, there are four activities in the project. Assume the normal distribution is appropriate to use to determine the probability of finishing by a particular time. What is the probability that the project is finished in 16 weeks or less (round to two decimals)? (a) (b) (c) (d) (e) 0.07 0.93 0.43 0.77 none of the above Register to View Answer13.73 Consider a project that has an expected completion time of 60 weeks and a standard deviation of five weeks. What is the probability that the project is finished in 70 weeks or less (round to two decimals)? (a) (b) (c) (d) (e) 0.98 0.48 0.50 0.02 none of the above Register to View Answer 159 Project Management l CHAPTER 13 13.74 Your company is considering submitting a bid on a major project. You determine that the expected completion time is 100 weeks and the standard deviation is 10 weeks. It is assumed that the normal distribution applies. You wish to set the due date for the project such that there is an 85 percent chance that the project will be finished by this time. What due date should be set? (a) (b) (c) (d) (e) 108.0 110.4 89.6 85.0 none of the above Register to View AnswerThe following table provides information for questions 13.75 to 13.76. Table 13-3 Activity A B C D E F G H 13.75 Immediate Time ES EF LS LF Predecessor 4 0 4 6 10 5 0 5 0 5 A 3 4 7 10 13 B 8 5 13 5 13 B 3 5 8 14 17 C, D 2 13 15 15 17 C, D 6 13 19 13 19 E, F 2 15 17 17 19 According to Table 13-3, there are eight activities to be completed in a project with known activity times. How long could activity E be delayed without delaying the completion of the project? (a) (b) (c) (d) (e) 3 9 14 17 none of the above Register to View Answer13.76 According to Table 13-3, there are eight activities to be completed in a project with known activity times. What is the minimum possible time required for completing the project? (a) (b) (c) (d) (e) 13 15 17 19 33 Register to View AnswerThe following table provides information for questions 13.77 to 13.79. Table 13-4 160 Project Management l CHAPTER 13 Activity Immediate Predecessor Optimisti c A B C D E A A B, C 4 2 2 5 6 13.77 Most Likely 5 5 8 5 7 Pessimistic 6 8 14 5 8 Average 5 5 8 5 7 Standard Deviation Variance 0.333 1.000 2.000 0.000 0.333 0.111 1.000 4.000 0.000 0.111 According to Table 13-4, there are five activities in a PERT project. Which activities are on the critical path? (a) (b) (c) (d) (e) A,B,C,D,E A,C,E B,D A,B,C,D none of the above Register to View Answer13.78 According to Table 13-4, there are five activities in a PERT project. What is the variance of the critical path? (a) (b) (c) (d) (e) 5.222 4.222 1.222 0 none of the above Register to View Answer13.79 According to Table 13-4, there are five activities in a PERT project. If the normal distribution were used to find the probability of finishing this project in 24 weeks or less, what mean and variance would be used? (a) (b) (c) (d) (e) 20 and 4.222 30 and 5.222 20 and 5.222 30 and 4.222 none of the above Register to View Answer 161 Project Management l CHAPTER 13 13.80 The critical path of a network is the (a) (b) (c) (d) (e) path with the least variance. path with zero slack. path with the most activities. path with the largest variance. none of the above Register to View Answer13.81 In a PERT network, the latest (activity) start time is the (a) (b) (c) (d) (e) earliest time that an activity can be finished without delaying the entire project. latest time that an activity can be started without delaying the entire project. earliest time that an activity can start without violation of precedence requirements. latest time that an activity can be finished without delaying the entire project. none of the above Register to View Answer13.82 Slack time in a network is the (a) (b) (c) (d) (e) time consuming job or task that is a key subpart of the total project. shortest amount of time that could be required to complete the activity. amount of time that you would expect it would take to complete the activity. amount of time that an activity can be delayed without delaying the project. none of the above Register to View Answer13.83 To do a PERT analysis of a project, (a) (b) (c) (d) (e) we must know the sequence in which tasks are to be performed. we must know the number of tasks in the project. we must know the time estimates for each activity. we must compute an expected time for each activity. all of the above Register to View Answer13.84 For which of the following projects are we more likely to use PERT than CPM as a management tool? (a) (b) (c) (d) (e) performing maintenance in a chemical plant building a new hotel complex developing a new space vehicle constructing a new factory building a new highway Register to View Answer 162 Project Management l CHAPTER 13 13.85 PERT (a) assumes we do not know ahead of time the specific amount of time an activity will require. (b) allows time/cost trade-offs. (c) is a probabilistic network technique that allows for project crashing. (d) is a deterministic network technique that allows for project crashing. (e) none of the above Register to View Answer 13.86 In PERT, (a) an activity may not start until all activities scheduled for an earlier time have finished. (b) we can have no more than two activities taking place simultaneously. (c) after the project has begun, it is possible for a path other than the original critical path to become critical. (d) we assume that the time to complete an activity is described by the normal distribution. (e) none of the above Register to View Answer 13.87 Which of the following is incorrect? In PERT, (a) (b) (c) (d) (e) we assume that all activities are completed. an activity may not start until all activities scheduled for an earlier time have finished. we assume that all activities have definable start and end points. we assume that the time to complete an activity is described by the beta distribution. none of the above Register to View Answer13.88 In PERT, we assume that (a) (b) (c) (d) the times to complete individual activities are known with certainty. all activities are carried out by staff from our own organization. the total cost of a is project independent of the time to complete the project. the total time to complete all activities on the critical path is described by a normal distribution. (e) none of the above Register to View Answer 163 Project Management l CHAPTER 13 13.89 CPM (a) assumes that we know ahead of time all activities which must be completed. (b) assumes that we may obtain additional resources or move existing resources from one activity to another. (c) is an important technique when we are planning a project similar to projects we have completed in the past. (d) is a deterministic network technique that allows for time/cost trade-offs. (e) all of the above Register to View Answer 13.90 In CPM, (a) (b) (c) (d) (e) an activity may start before its immediate predecessors have finished. no more than two activities may be performed simultaneously. the total cost of completing an activity in the crash time is higher than the normal cost. when we crash an activity, we complete the activity in the minimum possible time. none of the above Register to View Answer13.91 Managers use the network analysis of PERT and CPM to help them (a) (b) (c) (d) (e) identify the need for contingency plans by identifying critical activities. learn more about the actual times required to complete the activities. understand the relationship between the various activities. all of the above (a) & (c) only Register to View Answer13.92 In contrast to CPM, PERT (a) (b) (c) (d) (e) is a deterministic network model. requires all activities to be completed. assumes that activity costs are unknown. can identify activities which may, but do not necessarily, lie on the critical path. all of the above Register to View Answer 164 Project Management l CHAPTER 13 13.93 The expected time in PERT is (a) (b) (c) (d) (e) greater than the most likely time. equal to the most likely time. less than the most likely time. could be any of the above. none of the above Register to View Answer13.94 Given the following activitys optimistic, most likely, and pessimistic time estimates of 3, 7, and 11 days, respectively, compute the expected time for this activity. (a) (b) (c) (d) (e) 5 6 7 12 none of the above Register to View Answer13.95 Given the following activitys optimistic, most likely, and pessimistic time estimates of 3, 5, and 13 days, respectively, compute the expected time for this activity. (a) (b) (c) (d) (e) 3 4 5 6 none of the above Register to View Answer13.96 Given the following activitys optimistic, most likely, and pessimistic time estimates of 1, 9, and 17 days, respectively, compute the PERT time for this activity. (a) (b) (c) (d) (e) 4 8 9 18 none of the above Register to View Answer 165 Project Management l CHAPTER 13 13.97 Given the following activitys optimistic, most likely, and pessimistic time estimates 3, 6, and 9 days, respectively, compute the PERT variance for this activity. (a) (b) (c) (d) (e) 3 1 9 6 none of the above Register to View Answer13.98 Given the following activitys optimistic, most likely, and pessimistic time estimates of 3, 5, and 13 days, respectively, compute the PERT variance for this activity. (a) (b) (c) (d) (e) 2.5 5.4 8.0 2.8 none of the above Register to View Answer13.99 Given the following activitys optimistic, most likely, and pessimistic time estimates of 7, 9, and 15 days, respectively, compute the PERT variance for this activity. (a) (b) (c) (d) (e) 6.0 2.7 8.0 1.8 none of the above Register to View Answer13.100 The project described by: Activity A B C D E Immediate Predecessor A A B, C D 166 Time (days) 10 4 6 7 5 Project Management l CHAPTER 13 is best represented by which of the following networks? (a) (b) B Start B D Finish A C Start E (d) B B D Start Finish A C The project described by: Activity A B C D E Immediate Time Predecessor (days) 10 A 4 A 6 B, C 7 C 5 has a critical path of length: (a) (b) (c) (d) (e) E Finish 21 days 14 days 23 days 32 days none of the above Register to View Answer 167 D Finish A C E Register to View Answer13.101 D C (c) Start A E Project Management l CHAPTER 13 13.102 The project described by Activity A B C D E Immediate Time Predecessor(days) 6 A 2 8 B, C 5 D 7 has a critical path of length (a) (b) (c) (d) (e) 15 days 20 days 17 days 18 days none of the above Register to View AnswerThe following table provides information for questions 13.103 to 13.108. Table 13-5 The following represents a project with known activity times. All times are in weeks. Activity Immediate Time Predecessor A 4 B 3 C A 2 D B 7 E C, D 4 F B 5 G E, F 4 13.103 Using the data in Table 13-5, what is the minimum possible time required for completing the project? (a) (b) (c) (d) (e) 8 12 18 10 none of the above Register to View Answer 168 Project Management l CHAPTER 13 13.104 Using the data in Table 13-5, what is the latest possible time that C may be started without delaying completion of the project? (a) (b) (c) (d) (e) 0 4 8 10 none of the above Register to View Answer13.105 Using the data in Table 13-5, compute the slack time for activity D. (a) (b) (c) (d) (e) 0 5 3 6 none of the above Register to View Answer13.106 Using the data in Table 13-5, compute the latest finish time for activity E. (a) (b) (c) (d) (e) 4 10 14 25 none of the above Register to View Answer13.107 Using the data in Table 13.5, determine the latest time activity A can be started without delaying the project completion. (a) (b) (c) (d) (e) 4 3 8 6 none of the above Register to View Answer 169 Project Management l CHAPTER 13 13.108 Using the data in Table 13.5, determine the latest time activity A can be finished and not delay any activity? (a) (b) (c) (d) (e) 4 0 8 5 none of the above Register to View AnswerThe following table provides data for questions 13.109 to 13.112. Table 13-6 Activity A B C D E F 13.109 All activity times are in weeks. Immediate Optimistic Most Likely Predecessor Time Time 2 8 8 8 A 6 9 B 5 11 C, D 3 3 B 5 6 Pessimistic Time 14 8 18 17 9 7 According to the data in Table 13-6, what is the critical path? (a) (b) (c) (d) (e) A, C, E B,F B, D, E A, B, C, D, F none of the above Register to View Answer13.110 According to the data in Table 13-6, what is the minimum expected completion time for the project? (a) (b) (c) (d) (e) 18 19 37 11 none of the above Register to View Answer 170 Project Management l CHAPTER 13 13.111 According to Table 13-6, there are six activities in the project. Assume the normal distribution is appropriate to use to determine the probability of finishing by a particular time. If you wished to find the probability of finishing the project in 21 weeks or less, it would be necessary to find the variance and then the standard deviation to be used with the normal distribution. What variance would be used? (a) 5 (b) 4 (c) 8 (d) 12 (e) none of the above Register to View Answer 13.112 According to Table 13-6, there are six activities in the project. Assume the normal distribution is appropriate to use to determine the probability of finishing by a particular time. What is the probability that the project is finished in 20 weeks or less (round to two decimals)? (a) (b) (c) (d) (e) 0.41 0.91 0.13 0.09 none of the above Register to View Answer13.113 Consider a project that has an expected completion time of 50 weeks and a standard deviation of 9 weeks. What is the probability that the project is finished in 57 weeks or less (round to two decimals)? (a) (b) (c) (d) (e) 0.68 0.78 0.22 0.32 none of the above Register to View Answer 171 Project Management l CHAPTER 13 13.114 Your company is considering submitting a bid on a major project. You determine that the expected completion time is 150 weeks and the standard deviation is 10 weeks. It is assumed that the normal distribution applies. You wish to set the due date for the project such that there is a 95 percent chance that the project will be finished by this time. What due date should be set? (a) (b) (c) (d) (e) 108.0 160.4 166.5 135.0 none of the above Register to View AnswerThe following table provides information for questions 13.115 to 13.117. Table 13-7 Activity A B C D E F G H 13.115 Immediate Time Predecessor 4 5 A 3 B 8 B 2 C, D 3 C, D 7 E, F 2 ES EF LS LF 0 0 4 5 5 13 13 16 4 5 7 13 7 16 20 18 7 0 10 5 16 15 13 18 10 5 13 13 18 18 20 20 How long could activity E be delayed without delaying the completion of the project? (a) (b) (c) (d) (e) 7 16 11 18 none of the above Register to View Answer13.116 How long could activity F be delayed without delaying the project? (a) (b) (c) (d) (e) 2 3 14 16 none of the above Register to View Answer 172 Project Management l CHAPTER 13 13.117 What is the minimum possible time required for completing the project? (a) (b) (c) (d) (e) 14 20 17 20 none of the above Register to View AnswerThe following table provides information for questions 13.118 to 13.120. Table 13-8 Activit Immediate y Predecessor A B C D E F G H 13.118 A A B, C B D, E G, F Optimisti c 2 2 1 5 6 12 1 1 Most Likely 3 5 2 5 7 12 5 4 4 8 9 5 8 12 9 8 Which activities are part of the critical path? (a) (b) (c) (d) (e) A, B, E, G, H A, C, E, G, H A, D, G, H B, F, H none of the above Register to View Answer13.119 What is the variance of the critical path? (a) (b) (c) (d) (e) Pessimistic 5.222 4.364 1.362 5.144 none of the above Register to View Answer 173 Average 3 5 3 5 7 12 6 4 0.333 1.000 1.330 0.000 0.333 0.000 1.333 1.167 2 0.111 1.000 1.780 0.000 0.111 0.000 1.780 1.362 Project Management l CHAPTER 13 13.120 If the normal distribution were used to find the probability of finishing this project in 24 weeks or less, what mean and variance would be used? (a) (b) (c) (d) (e) 20 and 5.144 23 and 5.144 23 and 5.222 20 and 4.222 none of the above Register to View Answer*13.121 Which of the following best presents the project defined below? (a) Activity A B C D E F G (b) A Predecessor A B D&C B E A C C E E Start A (c) C D G F B (e) (d ) A Finish F B E Start G D Finish F B Start G D C E Start G Finish B F none of the above Register to View Answer *13.122 Assume a particular activity has an optimistic time of 10 weeks, a most likely time of 12 weeks, and an expected time of 14 weeks. What is its pessimistic time? (a) (b) (c) (d) (e) 12 weeks 18 weeks 26 weeks 30 weeks none of the above Register to View Answer*13.123 Assume a particular activity has an expected time of 24 weeks, a pessimistic time of 30 weeks, and a most likely time of 27 weeks. What is the optimistic time? 174 Finish Project Management l CHAPTER 13 (a) (b) (c) (d) (e) 10 weeks 8 weeks 7 weeks 12 weeks none of the above Register to View Answer*13.124 Assume an activity has the following times: optimistic = 10 weeks, most likely = 25 weeks, pessimistic = 40 weeks. What is the expected time? (a) (b) (c) (d) (e) 10 weeks 25 weeks 40 weeks 30 weeks none of the above Register to View AnswerThe following figure (Fig 13.1) is to be used as data for problems 13.129 13.135. Figure 131 A T=3 C T=6 Start F T=4 H T=7 E T=5 B T=5 D T=4 G T=6 *13.125 Given the network in Figure 13.1, the critical path is (a) (b) (c) (d) (e) A,C,F,H B,D,E,F,H A,C,E,G,H B,D,G,E,F,H none of the above Register to View Answer 175 Start Project Management l CHAPTER 13 *13.126 Given the network in Figure 13.1, the time to complete those activities on the critical path is expected to be (a) (b) (c) (d) (e) 20 22 25 26 none of the above Register to View Answer*13.127 Given the network shown in Figure 13.1, assume that completion of A is delayed by two days. What other activities are impacted? (a) (b) (c) (d) (e) B D E C none of the above Register to View Answer*13.128 Given the network shown in Figure 13.1, assume that completion of B is delayed by two days. What happens to the project? (a) (b) (c) (d) (e) The critical path is extended by two days. The start of activity F is delayed by two days. The start of activity E is delayed by two days. all of the above none of the above Register to View Answer*13.129 Given the network shown in Figure 13.1, assume that the completion of activity C is delayed by four days. What changes will take place? (a) (b) (c) (d) (e) The critical path will change to: A, C, B, D, E, F, H. Activity F will be delayed by four days. Activity E will be delayed by four days. Activity G will be delayed by four days. none of the above Register to View Answer 176 Project Management l CHAPTER 13 *13.130 Given the network shown in Figure 13.1 and the following information, what is the variance of the critical path? Activity A B C D E F G H Expected time 3 5 6 4 4 4 6 7 Variance 2 3 3 1 1 2 2 2 (a) 16 (b) 7 (c) 9 (d) 8 (e) none of the above Register to View Answer*13.131 Given the network shown in Figure 13.1, and the expected times and variance given above, what is the probability that the project will be completed in 25 or fewer weeks? (a) 100% (b) 50% (c) 66% (d) 25% (e) none of the above Register to View Answer PROBLEMS 13.132 Draw the PERT network associated with the following activities. Immediate Predecesso r A A B B C D E, F 177 Project Management l CHAPTER 13 Register to View Answer D G Start E A Start H C 13.133 F Given: Activity Optimistic A B C D E F G 3 6 2 0.5 6 4 1 B Most Likely Pessimistic 4 7 3 1 9 5 3 5 14 10 1.5 12 12 11 E G Start D Start F A C Determine: (a) the critical path (b) the probability that the project will be completed in 22 weeks ANSWER: (a) Critical path is B-E-G. Expected time is 21. (b) Variance for critical path is 5.56, so standard deviation is 2.26. P(X 22) = 0.66.3 178 Project Management l CHAPTER 13 13.134 The following represent activities in a major construction project. Draw the network to represent this situation. Activity A B C D E F G H Register to View Answer Immediate Predecessor A B B C, D E F, G E G Start D Start F A 13.135 C A small software development project has five major activities. The times are estimated and provided in the table below. Find the expected time for completing this project. Activity A B C D E Immediate a Predecessor 2 3 A 4 B 2 C 3 m b 5 6 7 5 3 8 9 10 14 3 (a) What is the expected completion time for this project? (b) What variance would be used in finding probabilities of finishing by a certain time? 179 Project Management l CHAPTER 13 ANSWER: (a) expected completion time = 15 (Activities A-C-E) (b) variance = 1 + 1 + 0 = 2 A C E Start Start D B 13.136 A project has an expected completion time of 40 weeks and a standard deviation of 5 weeks. It is assumed that the project completion time is normally distributed. (a) What is the probability of finishing the project in 50 weeks or less? (b) What is the probability of finishing the project in 38 weeks or less? (c) The due date for the project is set so that there is a 90 percent chance that the project will be finished by this date. What is the due date? ANSWER: 13.137 (a) P(X 50) = P(Z 2) = 0.97725 (b) P(X 38) = P(Z 0.4) = 0.34458 (c) Z-value = 1.28 Due date = 40 + 1.28(5) = 46.4 Development of a new deluxe version of a particular software product is being considered. The activities necessary for the completion of this are listed in the table below. Activity A B C D E F G Normal Time 4 2 3 8 6 3 4 3 1 3 4 3 2 2 Crash Normal Crash Time Cost Cost 2000 2600 2200 2800 500 500 2300 2600 900 1200 3000 4200 1400 2000 Immediate Predecessor A B C D,E (a) What is the project completion date? (b) What is the total cost required for completing this project on normal time? (c) If you wish to reduce the time required to complete this project by one week, which activity should be crashed, and how much will this increase the total cost? 180 Project Management l CHAPTER 13 ANSWER: (a) Project completion time = 16 (Activities A-D-G) (b) Total cost = $12,300 (c) Crash D one week at an additional cost of $75 A Start D B E C F G 181 Start Project Management l CHAPTER 13 13.138 Draw the PERT network associated with the following activities. Immediate Predecesso r A A B B C, E A, D F F G, H, I ANSWER: G D J B Start H E A F C 182 I Finish Project Management l CHAPTER 13 13.139 Given: Activity Optimistic 3 6 2 6 4 1 1 2 1 A B C D E F G H I A C Most Likely 4 7 3 9 5 3 2 5 4 Pessimistic 5 14 10 12 12 11 9 8 7 H F Start B I E D Finish G Determine: (a) the critical path (b) the probability that the project will be completed in 22 weeks ANSWER: (a) Critical path is B-E-G-I. (b) Variance for critical path is 6.33; standard deviation is 2.51. P(X 22) = 0.65 183 Project Management l CHAPTER 13 13.140 The following table represents activities in a major construction project. Draw the network to represent this situation. Activit y Immediate Predecesso r B B A, C D E, F B G, H A B C D E F G H I Register to View Answer E G C D Start F B I Start H 13.141 A small software development project has four major activities. The times are estimated and provided in the table below. Find the expected time for completing this project. Activity A B C D E F G H I Immediatea Predecessor 2 3 A 4 B 2 D 3 C 6 E, F 1 C 6 G, H 3 m b 5 6 7 5 3 8 1 10 4 8 9 10 14 3 10 1 14 5 (a) What is the expected completion time for this project? (b) What variance would be used in finding probabilities of finishing by a certain time? 184 Project Management l CHAPTER 13 ANSWER: (a) expected completion time = 26 (b) variance = 3.88 (Activities A-C-H-I) B D E Start G A I Finish F C H 13.142 A project has an expected completion time of 50 weeks and a standard deviation of 7 weeks. It is assumed that the project completion time is normally distributed. (a) (b) (c) (d) What is the probability of finishing the project in 50 weeks or less? What is the probability of finishing the project in 55 weeks or more? What is the probability of finishing the project in 44 weeks or less? The due date for the project is set so that there is a 90 percent chance that the project will be finished by this date. What is the due date? ANSWER: (a) (b) (c) (d) 13.143 P(X 50) = P(Z 0) = 0.5000 P(X 55) = P(Z 0.71) 1 - 0.761 = 0.239 P(X 44) = P(Z 0.857) 1 - 0.804 = 0.196 Z-value = 1.28 Due date = 50 + 1.28(7) 59 days Development of a new deluxe version of a particular software product is being considered. The activities necessary for the completion of this are listed in the table below. Activity A B C D E F G Normal Time 4 5 3 8 6 3 4 Crash Time 3 3 3 4 3 2 2 Normal Cost 2,000 2,200 500 2,400 900 3,000 1,700 Crash Cost 2,600 2,800 500 2,600 1,200 4,200 2,000 Immediate Predecessor A B C D,E (a) If you wish to reduce the time required to complete this project by two weeks, which activity(ies) should be crashed, and how much will this increase the total cost? (b) What would be the added cost if you wanted to complete the project in the minimum time possible? 185 Project Management l CHAPTER 13 ANSWER: (a) Crash D one week at an additional cost of $75, and crash G one week at an additional cost of $100. (b) Crash D 4 weeks, G 2 weeks, E 2 weeks, A 1 weeks and B 1 week, for a total additional cost of $1,700. A D G Start Start B E C F SHORT ANSWER/ESSAY 13.144 PERT is the acronym for ANSWER: Program Evaluation and Review Technique 13.145 CPM is the acronym for ANSWER: Critical Path Method 13.146 In a PERT analysis, how is the optimistic time defined? ANSWER: the estimated time for an activity, should circumstances go as well as possible (should have a low probability of actual occurrence) 13.147 In a PERT analysis, how is the most likely time defined? ANSWER: the best estimate of the time it takes to complete an activity 13.148 In PERT analysis, how is the pessimistic activity time defined? ANSWER: the estimated time for an activity, based upon unfavorable conditions (should have a low probability of actual occurrence) 13.149 In PERT/CPM, what is meant by the critical path? ANSWER: the series of activities in a network that have zero slack or the longest time path through a network 186

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CSU Sacramento - MGMT - 102
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SUNY Suffolk - ENGINEERIN - elt 151
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1AC507COSTACCOUNTINGPART1MAJOREXAMINATION(December14,2011)GENERALINSTRUCTION:Thisisa1hourexamination.Passyouranswersheetstotheproctorafter1hour.READANDFOLLOWtheinstructionsCAREFULLY!I.TRUEORFALSE.WriteFALSEifthestatementistrue;writeTRUEifthestateme
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USC - EACL - 465
Nate Nitzkowski9865282220EALC 4651/28/13In the Noel Carroll article I enjoyed the refuting of the James-Lange theory.James-Lange Theory states emotion is a bodily state. We cry, notice we cry and thenassociate that with sadness. But Noel proposes th
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Chemistry 118 BSpring 2008FinalWed. June 11, 2008Instructor: LievensThis exam contains ten (10) pages and ten (10) problems. Please make sure that yourcopy contains all ten (10) pages. If there is a problem, please tell the exam administratorprior
UC Davis - CHEM - 118
Chemistry 118 BSpring 2007FinalFriday June 8, 2007Instructor: LievensThis exam contains nine (9) pages and nine (9) problems. Please make sure that yourcopy contains all nine (9) pages. If there is a problem, please tell the exam administratorprior
UC Davis - CHEM - 118
Chemistry 118 BWinter 2010FinalWed. March 17, 2010Instructor: LievensThis exam contains ten (10) pages and eleven (11) problems. Please make sure that yourcopy contains all ten (10) pages. If there is a problem, please tell the exam administratorpr
UC Davis - CHEM - 118
University of the Philippines Diliman - ECONOMICS - Philo 1
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Singapore Management - MGMT - 101
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Waterloo - BIOL - 308
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Appendix ECOM/156 Version 5Associate Level MaterialAppendix EStrategies for Gathering and Evaluating SourcesSourceWhat makes the source credible or whatdoes not make it credible? Consider thefollowing when addressing the source:Explain in at leas
University of Phoenix - BUS - 200
Associate Level MaterialAppendix EInsurance MatrixType ofInsuranceAutoFunctionsExample of CompanyCoverage CharacteristicsThe function of automobileinsurance is to make sure that yourvehicle is insured. So that way ifyou are involved in an acci
University of Phoenix - BUS - 200
fall
University of Phoenix - BUS - 200
Appendix JUS/101 Version 5Associate Level MaterialAppendix JReliable Sources WorksheetLocate two sources in the University Library on a topic of your choice. Provide the requiredinformation for both sources.Source 1 Health and Wellness Resource Inf
University of Phoenix - BUS - 200
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