question

Activities

answer

Project steps that consume resources and/or time.

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Activity-on-arrow (AOA)

answer

Network diagram convention in which arrows designate activities

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Activity-on-node (AON)

answer

Network diagram convention in which nodes designate activities.

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Beta distribution

answer

Used to describe the inherent variability in activity time estimates.

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CPM

answer

Critical path method, for planning and coordinating large projects.

question

Crash

answer

Shortening activity durations.

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Critical activities

answer

Activities on the critical path.

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Critical path

answer

The longest path; determines expected project duration.

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Deterministic

answer

Time estimates that are fairly certain.

question

Events

answer

The starting and finishing of activities, designated by nodes in the AOA convention.

question

Independence

answer

Assumption that path duration times are independent of each other; requiring that activity times be independent, and that each activity is on only one path.

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Most likely time

answer

The most probable length of time that will be required.

question

Network (precedence) diagram

answer

Diagram of project activities that shows sequential relationships by use of arrows and nodes.

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Optimistic time

answer

The length of time required under optimal conditions.

question

Path

answer

A sequence of activities that leads from the starting node to the finishing node.

question

PERT

answer

Program evaluation and review technique, for planning and coordinating large projects.

question

Pessimistic time

answer

The length of time required under the worst conditions.

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Precedence diagram

answer

Diagram of project activities that shows sequential relationships by use of arrows and nodes.

question

Probabilistic

answer

Estimates of times that allow for variation.

question

Project champion

answer

A person who promotes and supports a project.

question

Projects

answer

Unique, one-time operations designed to accomplish a specific set of objectives in a limited time frame.

question

Slack

answer

Allowable slippage for a path; the difference between the length of a path and the length of the critical path.

question

Virtual project teams

answer

Some or all of the team members are geographically separated.

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Work breakdown structure (WBS)

answer

A hierarchical listing of what must be done during a project.

question

Work breakdown structure (WBS) purpose

answer

underscored by the fact that the activity list that results serves as the focal point for planning and doing the project

question

Five phases of a project life cycle?

answer

1. Initiating-- outlining the expected costs, benefits, and risks associated with the project 2. Planning- provides details on deliverables, scope, budget, schedule and milestones, performance objectives, resources needed, and plan for handling risks. 3. Executing- actual work carried out 4. Monitoring and Controlling- occurs at the same time as project execution 5. Closing- ends the project

question

How is project management different from general management?

answer

1. Limited time frame 2. Narrow focus, specific objectives 3. Less bureaucratic

question

Why is project management used?

answer

1. Special needs that don't lend themselves to functional management 2. Pressures for new or improved products or services, cost reduction

question

What are the key project metrics?

answer

1. Time 2. Cost 3. Performance objectives

question

What are the main tools of project management?

answer

1.Work breakdown structure-initial planning 2. Network diagram- big picture 3. Gantt charts- visual aid 4. Risk management- analyses of potential failures or problems

question

What are the key decision steps in project management?

answer

1. Deciding which projects to implement 2. Selecting the project manager 3. Selecting the project team 4. Planning and designing the project 5. Managing and controlling project resources 6. Deciding if and when a projects should be terminated

question

Project champions

answer

a person who promotes and supports a project

question

Why are project champions used?

answer

Instrumental in facilitating the work of the project manager by "talking up" the project to other managers who might be asked to share resources with the project team

question

Expected time of an activity formula

answer

te= to+4tm+tp/6 to= Optimistic time tm= Most likely time (mode) tp= Pessimistic time

question

Variance of an activity (squaring the standard deviation)

answer

o^2= [(tp-to)/6]^2 or (tp-to)^2/36 to= Optimistic time tp= Pessimistic time

question

Standard deviation of a path

answer

=sqrt(sum of variances of activities on path)

question

Probability that a given path will be completed in a specified length of time

answer

z= specified time - path mean / path standard deviation

question

Rule of thumb

answer

If the value of z is 13.00 or more, treat the probability of path completion by the specified time as 100 percent

question

Crash

answer

shortening activity durations

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What extent should a project be crashed?

answer

1. Regular time and crash time estimates for each activity 2. Regular cost and crash cost estimates for each activity 3. A list of activities that are on the critical path

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General procedure for crashing is

answer

1. Crash the project one period at a time 2. Crash the least expensive activity that is on the critical path 3. When there are multiple critical paths, find the sum of crashing the least expensive activity on each critical path.

question

What ways can project management software be helpful?

answer

1. Assign resources 2. Compare project plan versions 3. Evaluate changes 4. Track performance

question

The Nature of Projects: matrix organization

answer

allows them to integrate the activities of a variety o specialists within a functional framework

question

In the planning stage, The Project Manager

answer

must prepare a scope statement that spells out the deliverables and goals, determine required skills and resources needed, develop a schedule and budget, and develop plans for managing the scope, the schedule, the budget, and quality risk.

question

The Project Manager

answer

bears the ultimate responsibility for the success or failure of the project

question

What is the project manager responsible for?

answer

1. Work 2. Human resources 3. Communications 4. Quality 5. Time 6. Costs 7. Scope

question

Project management triangle (set of skills)

answer

1. ability to motivate and direct team members 2. make trade-off decisions 3. expedite the work when necessary 4. put out fires 5. monitor time 6. budget 7. technical duties

question

The Project Management Institute (PMI) administers a globally recognized, examination based professional certification program that maintains T/F

answer

True

question

Pros of working on projects

answer

1. Potential rewards of being involved in a project 2. dynamic environment that surrounds a project 3. challenge of working under pressure and solving new problems 4. opportunities to meet new people and increase future job opportunities 5. association can be a sign of status 6. inspire team spirit, increase morale, and motivation

question

Cons of working on projects

answer

1. Interrupt their regular jobs 2. Managers don't want to lose output of good workers 3. Workers aren't eager to participate in projects 4. May disrupt friendships and daily routines 5. Risks of being replaced on current job 6. Fear of being associated with an unsuccessful project

question

What is a Gantt chart?

answer

visual tool for planning and scheduling simple projects ; enables managers to initially schedule project activities and then to monitor progress over time by comparing planned progress to actual progress

question

By using PERT or CPM, managers are able to obtain

answer

1. graphical display of project activities 2. estimate of how long the project will take 3. indication of which activities are the most critical to timely project completion 4. indication of how long any activity can be delayed without delaying the project.

question

Main determinant of the way PERT and CPM networks are analyzed and interpreted is whether activity time estimates are _______ or _______.

answer

probabilistic or deterministic

question

probabilistic

answer

estimates of times that allow for variation

question

deterministic

answer

time estimates that are fairly certain

question

Budget Control is a

answer

critical aspect of a project

question

The goal in evaluating time-cost trade offs is to identify activities that will reduce the sum of the project costs T/F

answer

True

question

To crash and on the extent of crashing desirable, a manager needs certain information

answer

1. regular time and crash time est. for each activity 2. regular cost and crash cost estimates for each activity 3. list of activities that are on the critical path

question

Advantages of Using PERT

answer

1. techniques forces the manager to organize and quantify available information and to recognize where additional info is needed 2. provide graphic display of the project and its major activities 3. identify activities that should be watched, slack time

question

Potential Sources of Error when using PERT

answer

1. omit one or more activities 2. precedence relationships may not all be correct 3. time est. may include fudge factors 4. tendency to focus solely on activities that are on the critical path

question

Critical Chain Project Management (CCPM)

answer

approach to project management that includes an emphasis on the resources required to execute project tasks

question

Six-sigma projects

answer

tend to have narrow focus; involve all of the typical elements and requirements of general project management

question

Virtual project teams

answer

some or all of the team members are geographically separated

question

Steps in risk management

answer

1. Identify risks 2. Evaluate to determine probability of occurrence and the potential consequences 3. Monitor

question

One path in a precedence diagram has four activities. If the standard deviation of each activity is 3.0, the path standard deviation is:

answer

The path standard deviation is equal to the square root of the sum of the activity variances, which is the square root of 36: 32 + 32 + 32 + 32 = 36. sqrt(36)=6

question

What is the variance of an activity that has these three time estimates? 4-7-10

answer

(10 - 4)2/36 = 36/36 = 1

question

What is the mean of an activity that has these three time estimates? 3-5-10

answer

(1(3) + 4(5) 1(10))/6 = 33/6 = 5.5

question

Which one is not a key project metric?

answer

effort

question

Which one of these

answer

Use of resources.

question

In PERT, the distribution that is used to describe activity times is

answer

beta

question

An important assumption in probabilistic computations is

answer

activity times are independent.

question

If the z value for a path is greater than +3.00, the probability that it will be completed on time is zero. T/F

answer

False

question

T/F The only candidates for crashing are activities that are on the critical path.

answer

True

question

A project champion is a project manager who has successfully completed a number of projects.T/F

answer

False

question

Two activities in a PERT diagram cannot begin with the same node and end with the same node.T/F

answer

True

question

The standard deviation of a path is equal to the sum of the standard deviations of the path's activities. T/F

answer

false

question

A dummy activity is sometimes needed in an activity-on-node diagram. T/f

answer

false

question

A key feature of the critical chain approach is the use of various buffers.

answer

True

question

The critical chain approach in project management emphasizes supply chain relationships. t/f

answer

false

question

Projects typically go through a sequence of stages, referred to as a life cycle. T/f

answer

true

question

The slack of any path is the difference between its time length and the time length of the critical path. T/f

answer

true

question

The critical path is the path that has the most activities. T/f

answer

false

question

An activity that is at the intersection of two paths is a critical activity. t/f

answer

false

question

An activity may be on more than one path in a network diagram. t/f

answer

true

question

A path is a sequence of activities in a project that stretches from its beginning to its end. T/f

answer

true

question

Projects are large, complex sets of tasks that must be completed in a limited timeframe. T/f

answer

false

question

Activity 7-8 is directly preceded by two activities, activity 5-7 and activity 6-7. Activity 5-7 has an expected time of five and an ES time of eight. Activity 6-7 has an expected time of seven and an ES time of seven. Activity 7-8 has an expected time of nine. The EF for activity 7-8 is:

answer

23

question

There are four activities on the critical path, and they have standard deviations of 1, 2, 4, and 2 days. The standard deviation of the critical path is:

answer

1^2+2^2+4^2+2^2=25 sqrt(25)=5

question

Trading the costs of shorter activity times for the benefits of an earlier project completion is called:

answer

crashing.

question

A node has one entering activity, 2-3, and two leaving activities, 3-4 and 3-5. Given the following, determine the latest starting time (LS) for activity 2-3: EF for 3-4 = 15, EF for 3-5 = 18, latest finish time (LF) for 3-4 = 24, LF for 3-5 = 27, activity times are 2-3 = 4, 3-4 = 6, and 3-5 = 8.

answer

14

question

All of the following are true about the critical path, except:

answer

the critical path is the path that has the greatest number of activities.

question

Which of the following is not a form of risk reduction in project management?

answer

scenario analysis

question

Given this information about activity 3-4: ES = 10, EF = 15, LS = 16, and LF = 21, we can determine that the amount of slack associated with the activity is:

answer

6

question

According to the Stevenson textbook, which of the following is not typically a phase of a project life cycle?

answer

Defining

question

Which of the following would probably not benefit from the use of PERT/CPM for scheduling and planning?

answer

Cutting lumber at a sawmill.

question

What is the variance of an activity that has these three time estimates? 4-7-10

answer

1.00

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