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Exam 8: Managing Projects

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Question 41

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Risk is a measure of the probability and consequences of not reaching a defined project goal.

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Question 42

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What are the benefits of using CPM/PERT?

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The benefits are forcing project teams t...

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Question 43

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Free slack is the amount of time that an activity's earliest finish time can be delayed without delaying the earliest start time of any activity immediately following it.

Table 3.5 $\begin{array} { | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Immediate } \\\text { Predecessor(s) }\end{array} & \begin{array} { c } \text { Time } \\\text { (weeks) }\end{array} \\\hline \text { A } & \cdots & 6 \\\text { B } & \cdots & 3 \\\text { C } & \text { A,B } & 2 \\\\\text { D } & \text { A } & 6 \\\text { E } & \text { C } & 2 \\\text { F } & \text { D,E } & 2 \\\text { G } & \text { C } & 8 \\\hline\end{array}$ -Using Table 3.5,what is the critical path of this project?

Table 3.10 You are responsible for managing a project with the following activities (times are given in weeks) . $\begin{array} { | c | c | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Optimistic } \\\text { Time }\end{array} & \begin{array} { c } \text { Most Likely } \\\text { Time }\end{array} & \begin{array} { c } \text { Pessimistic } \\\text { Time }\end{array} & \begin{array} { c } \text { Immediate } \\\text { Predecessor(s) }\end{array} \\\hline \text { A } & 2 & 5 & 14 & \cdots \\\text { B } & 8 & 11 & 14 & \cdots \\\text { C } & 5 & 7 & 9 & \text { A } \\\text { D } & 6 & 9 & 12 & \text { A } \\\text { E } & 1 & 3 & 5 & \text { D,B } \\\hline\end{array}$ -Using Table 3.10,what is the probability of completing the project in 17 weeks or less? You will need to refer to a standard normal table to answer the question.

What characteristics should project manager possess?

When using the beta distribution for estimating activity times,

Table 3.4 $\begin{array} { | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Immediate } \\\text { Predecessor(s) }\end{array} & \begin{array} { c } \text { Time } \\\text { (weeks) }\end{array} \\\hline \text { A } & \cdots & 2 \\\text { B } & \cdots & 2 \\\text { C } & \cdots & 2 \\\\\text { D } & \text { A } & 2 \\\text { E } & \text { B } & 2 \\\text { F } & \text { B } & 2 \\\\\text { G } & \text { C } & 2 \\\text { H } & \text { E } & 2 \\\text { I } & \text { F } & 2 \\\\\text { J } & \text { D } & 2 \\\text { K } & \text { I } & 2 \\\text { L } & \text { K,H } & 2 \\\\\text { M } & \text { G } & 2 \\\text { N } & \text { L, J } & 2 \\\hline\end{array}$ -Using Table 3.4,of the following activities,which one has a slack value greater than zero weeks?

Table 3.4 $\begin{array} { | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Immediate } \\\text { Predecessor(s) }\end{array} & \begin{array} { c } \text { Time } \\\text { (weeks) }\end{array} \\\hline \text { A } & \cdots & 2 \\\text { B } & \cdots & 2 \\\text { C } & \cdots & 2 \\\\\text { D } & \text { A } & 2 \\\text { E } & \text { B } & 2 \\\text { F } & \text { B } & 2 \\\\\text { G } & \text { C } & 2 \\\text { H } & \text { E } & 2 \\\text { I } & \text { F } & 2 \\\\\text { J } & \text { D } & 2 \\\text { K } & \text { I } & 2 \\\text { L } & \text { K,H } & 2 \\\\\text { M } & \text { G } & 2 \\\text { N } & \text { L, J } & 2 \\\hline\end{array}$ -Using Table 3.4,what is the latest finish time for activity D?

Table 3.10 You are responsible for managing a project with the following activities (times are given in weeks) . $\begin{array} { | c | c | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Optimistic } \\\text { Time }\end{array} & \begin{array} { c } \text { Most Likely } \\\text { Time }\end{array} & \begin{array} { c } \text { Pessimistic } \\\text { Time }\end{array} & \begin{array} { c } \text { Immediate } \\\text { Predecessor(s) }\end{array} \\\hline \text { A } & 2 & 5 & 14 & \cdots \\\text { B } & 8 & 11 & 14 & \cdots \\\text { C } & 5 & 7 & 9 & \text { A } \\\text { D } & 6 & 9 & 12 & \text { A } \\\text { E } & 1 & 3 & 5 & \text { D,B } \\\hline\end{array}$ -Using Table 3.10,what is the probability that the project will take 16 or more weeks to complete? You will need to refer to a standard normal table to answer the question.

The optimistic time is the probable time required to perform the activity.

Table 3.3 $\begin{array} { | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Immediate } \\\text { Predecessor(s) }\end{array} & \begin{array} { c } \text { Time } \\\text { (weeks) }\end{array} \\\hline \text { A } & \cdots & 3 \\\text { B } & \cdots & 3 \\\text { C } & \cdots & 3 \\\text { D } & \text { B } & 4 \\\text { E } & \text { A,C } & 4 \\\text { F } & \text { B } & 4 \\\text { G } & & \\\text { H } & \text { E } & 5 \\\text { I } & \text { E } & 5 \\\hline\end{array}$ -Using Table 3.3,what is the minimum number of activities that would have to be delayed in order to cause an increase in the project's earliest completion date?

Table 3.12 You are responsible for managing a project with the following activities (times are given in weeks) . $\begin{array} { | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Expected } \\\text { Time }\end{array} & \begin{array} { c } \text { Immediate } \\\text { Predecessor } ( \mathrm { s } ) \end{array} \\\hline \mathbf { A } & 3 & \cdots - \\\text { B } & 3 & - \\\text { C } & 5 & \text { A } \\\text { D } & 4 & \text { A,B } \\\text { E } & 4 & \text { B } \\\text { F } & 4 & \text { C,D } \\\text { G } & 3 & \mathrm { D } , \mathrm { E } \\\mathrm { H } & 5 & \mathrm {~F} , \mathrm { G } \\\hline\end{array}$ -Using Table 3.12,which of the following activities has the largest amount of slack?

The activities along the critical path determine the completion time for the project.

A critical path is the sequence of activities between a project's start and finish.

Projects cannot have more than one critical path.

Table 3.2 Time (days) $\begin{array} { | c | c | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Immediate } \\\text { Predecessor(s) }\end{array} & \begin{array} { c } \text { Most } \\\text { Optimistic }\end{array} & \begin{array} { c } \text { Most } \\\text { Likely }\end{array} & \begin{array} { c } \text { Most } \\\text { Pessimistic }\end{array} \\\hline \text { A } & \cdots & 2 & 4 & 6 \\\text { B } & \cdots & 1 & 4 & 7 \\\text { C } & \text { A } & 2 & 2 & 2 \\\text { D } & \text { B } & 1 & 7 & 10 \\\text { E } & \text { D } & 2 & 4 & 6 \\\text { F } & \text { E } & 1 & 2 & 3 \\\text { G } & \text { C } & 3 & 4 & 17 \\\text { H } & \text { D, G } & 3 & 7 & 11 \\\text { I } & \text { D } & 8 & 9 & 10 \\\text { J } & \text { F,H } & 4 & 5 & 6 \\\text { K } & \text { I } & 1 & 1 & 1 \\\hline\end{array}$ -Using Table 3.2,if the project manager wants at least a 98% probability that the project will be completed on or before the due date,what is the shortest project due date that will satisfy the manager? You will need to refer to a standard normal table to answer the question.

To calculate the probability of completing a project by a certain date,

Which one of the following best describes the critical path of a PERT/CPM network?

Table 3.12 You are responsible for managing a project with the following activities (times are given in weeks) . $\begin{array} { | c | c | c | } \hline \text { Activity } & \begin{array} { c } \text { Expected } \\\text { Time }\end{array} & \begin{array} { c } \text { Immediate } \\\text { Predecessor } ( \mathrm { s } ) \end{array} \\\hline \mathbf { A } & 3 & \cdots - \\\text { B } & 3 & - \\\text { C } & 5 & \text { A } \\\text { D } & 4 & \text { A,B } \\\text { E } & 4 & \text { B } \\\text { F } & 4 & \text { C,D } \\\text { G } & 3 & \mathrm { D } , \mathrm { E } \\\mathrm { H } & 5 & \mathrm {~F} , \mathrm { G } \\\hline\end{array}$ -Using Table 3.12,what is the critical path for this network?