Part I. Indicate whether each statement below is true or false. One way to do it is to make T or F boldface .

Part I.  Indicate whether each statement below is true or false. One way to do it is to make T or F boldface. Please avoid using colors because I print your answers before grading them and the colors do not show well in print.  Each question carries 1.5 points.

T    F     1. A project is a set of activities, one-time, something novel or unique, and limited in time; and it has an end.

T        2. There are “grey” areas where both approaches, project and process, are relevant.

   F     3. A program consists of a set of projects, which are generally interdependent, being pursued.

T    F     4. Many projects fail to meet time, budget, and other specific business goals.

  F     5. A project plan drives the project’s budget, schedule, control, and evaluation.

T    F     6. A project usually requires a cross-functional (or inter-departmental or multidisciplinary) team.

   F    7. Members of a project team often work from different locations in the same country or across different countries.

T

T

T

T

 F

T

T  F   14. Whereas t

T

T    F   16. has full authority over the project and the project has a strong identity, separate from the parent organization.

   F    17. Research shows that conflicts over schedule issues are more frequent at the beginning while project priorities tend to dominate during the middle and end.

   F    18. From the action plan, one can extract a list of all tasks arranged by task level. This is the Linear Responsibility Charts (LRC).

   F   19. From action plans, one can develop the Work Breakdown Structure (WBS).  The WBS details the nature of responsibility of each individual or group involved in the project to the specific tasks required to complete the project.

T    F   20. Concurrent engineering means the early involvement of design, manufacturing, and marketing to define the client’s deliverables.

T   F  21. A budget is simply a plan for allocating organizational resources to the project activities. It also ties the project to the organization’s objectives.

T   F  22. Once the budget is set; it is used as part of the project control mechanism during execution.

T    F    23. Budgeting is the process of forecasting what resources the project will require, what quantities of each will be needed, and how much they will cost.

T    F    24. Although many organizations will have well worn (and reasonably accurate) methods for creating the initial project estimate based on past experience, the estimating process always has some level of uncertainty associate with it because every project is unique.

T    F    25. One way to build contingencies into the process or to account for uncertainty in some other way is to use the PERT process of developing likely, optimistic and pessimistic estimates.

T   F   26. It costs money to expedite the completion of an activity by using overtime work, hiring more workers, buying or leasing additional equipment, etc.

T   F  27.It costs money to sustain (or lengthen) the project because of the costs of overhead, penalty costs, etc.

T     F   28. There are many advantages to a level resource plan including improved morale and reduced administrative costs.

T  F  29. The key elements to be monitored on projects are schedule, cost and performance.  The project manager must define the characteristics of schedule, cost and performance that are worth watching.

T  F   30.Statistical analysis of the data helps in determining the data variance, and if the variance exceeds a certain pre-determined level, it requires a corrective action.

Part II.  Mark the right answer.  One way to do it is to make the answer (just a, b, or so forth, not the entire sentence) boldface.  Each question carries three (3)  points.

3.  A number of factors influence the project budget:

A.    Changes in resource costs due to factors like inflation

B.    Waste and spoilage

C.    The fact that people, as resources are not freely interchangeable with each other.

D.    Projects cannot be put back on schedule by adding an infinite number of resources.

E.

Please continue on the next page

Part III: Numerical Problems.  Mark the right answer.  One way to do it is to make the answer (just a, b, or so forth, not the entire sentence) boldface.  Each question carries 7.5 points.

1. A simple project listing of five activities and their respective time estimates are presented below:

Activity

Immediate Predecessor

Time in Days

A

None

1

B

A

2

C

A

1

D

B and C

3

E

D

2

Which activities make up the critical path?

A.   A, C, D, E

B.   A, B, D, E

C.   A, C, B, D, E

D.   A, D, E

E.    None of the above

Answer _________________

2. A simple project listing of five activities, their predecessors and their respective time estimates are presented below:

Activity

Immediate Predecessor

Time in Days

A

None

3

B

A

2

C

A

1

D

B and C

3

E

D

4

What is the Latest Finish Time for the last activity in this project (i.e., the total time to complete the project)?

A. 10 days

B. 7 days

C. 8 days

D. 12 days

E. 9 days

Answer__________________

3. Below are the data for a Time-Cost CPM Scheduling model analysis. The time is in days and the costs include both direct and indirect costs.

Immediate

Normal

Crash

Normal

Crash

Activity

Predecessor

Time

Time

Cost

Cost

A

None

3

2

$200

$400

B

A

4

3

$300

$600

C

A

1

1

$300

$300

D

B and C

3

2

$500

$550

E

D

2

1

$500

$900

If you crash this project to reduce the total time by one day what is the total time of the project and total cost?

A.   Total time is 13 days, total cost is $1500

B.   Total time is 12 days, total cost is $2000

C.   Total time is 12 days, total cost is $2300

D.   Total time is 11 days, total cost is $1850

E.   Total time is 11 days, total cost is $2350

Answer_____________________

4. A company must perform a maintenance project consisting of seven activities.   The activities, their predecessors, and their respective time estimates are presented below:

Immediate

Activity

Designation

Predecessor

Time in Days

Break down both machines

A

None

3

Clean machine 1

B

A

3

Clean machine 2

C

A

3

Re-set machine 1

D

B

4

Re-set machine 2

E

C

2

Re-calibrate both machines

F

D and E

1

Final test

G

F

2

Which activities make up the critical path?

A. A, B, D, F, G

B. A, C, E, F, G

C. A, C, B, F, E

D. A, D, E

E. None of the above

Answer_____________________

5. A company must perform a maintenance project consisting of seven activities.   The activities, their predecessors, and their respective time estimates are presented below:

Immediate

Activity

Designation

Predecessor

Time in Days

Break down both machines

A

None

3

Clean machine 1

B

A

3

Clean machine 2

C

A

3

Re-set machine 1

D

B

1

Re-set machine 2

E

C

2

Re-calibrate both machines

F

D and E

1

Final test

G

F

2

What is the Latest Finish Time for the last activity in this project (i.e., the total time to complete the project)?

A. 9 days

B. 10 days

C. 11 days

D. 12 days

E. 13 days

Answer_____________________

6.  The data for a Time-Cost CPM Scheduling analysis are given below. The time is in days and the costs include both direct and indirect costs.

Immediate

Normal

Crash

Normal

Crash

Activity

Predecessor

Time

Time

Cost

Cost

A

None

3

2

$200

$400

B

A

4

3

$300

$600

C

A

1

1

$300

$300

D

B and C

3

2

$500

$550

E

D

2

1

$500

$900

If you crash this project to reduce the total time by four days, what is the total time of the project and total cost?

A. Total time is 10 days, total cost is $2500

B. Total time is 9 days, total cost is $2300

C. Total time is 8 days, total cost is $2750

D. Total time is 8 days, total cost is $1850

E. Total time is 9 days, total cost is $2350

Answer_____________________

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