ch 7 - Chapter 7: The Project Schedule and Budget...

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Chapter 7: The Project Schedule and Budget True/False 1. The project budget is determined by the project schedule, the cost of the resources assigned to each of the tasks, and by any other direct or indirect costs and reserves. 2. The PMBOK® area called project cost management includes cost estimating, cost budgeting, and cost control. 3. Gantt charts are useful for planning but should not be used for tracking and monitoring the progress of a project. 4. Project network diagrams provide valuable information about the logical sequence and dependencies among the various activities and tasks so that a completion date or deadline can be determined. 5. Predecessor activities are activities that can be worked on at the same time as another activity. 6. Predecessor activities are activities that must be completed before another activity can be started. 7. A parallel activity is a task that can be worked on at the same time as another activity. 8. Parallel activities can shorten the project schedule, but can have an impact on project resources if a resource is assigned to two tasks at the same time. 9. The critical path is the shortest path in the project network and also is the longest time in which the project can be completed. 10. The critical path is the longest path in the project network and also is the shortest time in which the project can be completed. 11. Identifying the critical path is important because any change in the duration of the activities or tasks on the critical path will affect the project’s schedule. 12. The critical path has zero slack (or float) 13. Identifying the critical path is important because a project can only have one critical path and it never changes.
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14. PERT was developed in the 1950s to create a visual representation of scheduled activities, their logical sequence, and interrelationships using a statistical probability distribution. 15. Installing a server before loading the operating system is an example of a finish-to- start relationship. 16. Start-to-Start and Finish-to-Finish relationships allow activities to be worked on in parallel. 17. A start-to-finish activity is the most common relationship between two activities.
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This note was uploaded on 12/30/2011 for the course IT PMIT taught by Professor Andr during the Spring '11 term at Boğaziçi University.

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ch 7 - Chapter 7: The Project Schedule and Budget...

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