OPS 571T Apply Week 4 Exam Assignment 100% Correct (All Possible Question/Answer)
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OPS 571T Apply Week 4 Exam Assignment 100% Correct (All Possible Question/Answer)

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1. The fact that organizations are flattening is one of the reasons that project management is important 2. Derivative projects are those that address incremental changes to products or processes. 3. A disadvantage of a matrix project organizational structure is that a project manager is held responsible for successful completion of the project. 4. The critical path in a CPM analysis is found by locating the activities times with zero slack. 5. Here 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. 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 simple project listing of five activities, their predecessors, and their respective time estimates are presented here: 6. Using CPM, what is the latest finish time for the last activity in this project (i.e., the total time to complete the project)? 7. In CPM, the late start time estimate is the latest time you can start an activity and still keep the entire project on schedule. 8. A simple project listing of five activities and their respective time estimates are presented here: Using CPM, which activities make up the critical path? 9. A simple project listing of five activities, their predecessors, and their respective time estimates are presented here: Using the CPM, which activities have slack in this project? 10. A listing of immediate predecessor activities is important information in a CPM analysis for which of the following reasons? 11. You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs. 12. One of the assumptions made using CPM is that project activity sequence relationships can be specified and networked. 13. The critical path of activities in a project is the sequence of activities that form the shortest chain in a project network of activities. 14. In a CPM analysis, if you subtract the early start from the late start, the result is the activity's slack time. 15. You know when you have arrived at the optimal solution in using the time-cost CPM scheduling model analysis when what happens? 16. Using the time-cost CPM model, the crash time is the shortest possible time allowed for each activity in the project. 17. Complex projects are often subdivided into a series of tasks that are typically configured to be not longer than several months in duration. 18. You are looking at a chart that has the terms BCWS, BCWP, and AC indicating lines on the chart. What kind of chart are you looking at? 19. A work breakdown structure is used in project management but it is not used when the critical path method is involved. 20. CPM is an abbreviation for critical path method. 21. The critical path in a project is that sequence of activities that consume the longest amount of time in a project network of activities. 22. For an activity in a CPM analysis, the early start time is 8 and the late start time is 10. Which of the following statements is true? 23. The project indirect costs associated with a project include overhead, facilities, and resource opportunity costs. 24. A company must perform a maintenance project consisting of seven activities. The activities, their predecessors, and their respective time estimates are presented here: Using CPM, which activities have slack in this project? 25. The Gantt chart is an example of a project control chart. 26. A listing of immediate predecessor activities is important information in a CPM analysis for which of the following reasons? 27. You are looking at a chart that has the terms BCWS, BCWP, and AC indicating lines on the chart. What kind of chart are you looking at? 28. The second step in managing a project is writing the statement of work 29. A simple project listing of five activities and their respective time estimates are presented here: Using CPM, which activities make up the critical path? 30. An advantage of a pure project where self-contained teams work full time on a project is which of the following? 31. CPM is an abbreviation for critical path method 32. A series of projects that are organized in such a way that each project utilizes people from different functional areas is using which of the following organizational structures? 33. Calculating the early start and early finish times for each activity in a CPM analysis does not provide any useful information 34. The activity direct costs associated with a project might include giving workers overtime to complete a project in less than the expected time. 35. For an activity in a CPM analysis, the early start time is 8 and the late start time is 10. Which of the following statements is true? 36. In a CPM analysis, if you subtract the early start from the late start, the result is the activity's slack time 37. A project milestone is a specific event to be reached by a particular point in time 38. A disadvantage of a matrix project organizational structure is that a project manager is held responsible for successful completion of the project 39. A simple project listing of five activities, their predecessors, and their respective time estimates are presented here: Using the CPM, which activities have slack in this project? 40. The critical path in a project is that sequence of activities that consume the longest amount of time in a project network of activities. 41. You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs. 42. You have just performed a CPM analysis and have found that more than one path through the project network has zero slack values. What can you conclude? 43. Using the time-cost CPM model, the crash time is the shortest possible time allowed for each activity in the project. 44. You have the following time and cost information for use in a time-cost CPM scheduling model. What are the three costs per unit of time to expedite each activity? 45. A company must perform a maintenance project consisting of seven activities. The activities, their predecessors, and their respective time estimates are presented here: Using CPM, which activities have slack in this project? 46. You know when you have arrived at the optimal solution in using the time-cost CPM scheduling model analysis when what happens? 47. A simple project listing of five activities, their predecessors, and their respective time estimates are presented here: Using CPM, what is the latest finish time for the last activity in this project (i.e., the total time to complete the project)? 48. A project may be defined as a series of related jobs directed toward some major output and requiring a significant period of time to perform. 49. A project starts out as which of the following? 50. Here 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. If you crash this project to reduce the total time by one day, what is the total time of the project and total cost? 51. A work breakdown structure is used in project management but it is not used when the critical path method is involved. 52. In CPM analysis, it is generally expected that the relationship between activity direct costs and project indirect costs will be which of the following? 53. PERT is an abbreviation for which of the following methodologies? 54. Project management can be defined as planning, directing, and controlling resources to meet the technical, cost, and time constraints of the project. 55. The Gantt chart is an example of a project control chart. 56. Upper-level management must decide between pure, functional, and matrix structures as ways to organize projects. 57. The critical path in a CPM analysis is found by locating the activities times with zero slack. 58. The project indirect costs associated with a project include overhead, facilities, and resource opportunity costs 59. When reducing the planned duration of a project using the time-cost CPM model, we select the activity to crash by determining the cost of each alternative and selecting the one whose cost is the greatest. 60. The fact that organizations are flattening is one of the reasons that project management is important. 61. An event unit package is a subdivision of a project. 62. Some of the advantages of a functional project where the project is housed in a functional division include which of the following? 63. Complex projects are often subdivided into a series of tasks that are typically configured to be not longer than several months in duration. 64. The valuations in an earned value management analysis must be either profits or revenue. 65. What type of chart compares the current project schedule with the original baseline schedule so that deviations from the original plan can be easily noticed? The following table represents a plan for a project 66. What is the expected completion time for the project? 67. You can accomplish any one of the following at an additional cost of $1,500. If you will save $1,000 for each day that the earliest completion time is reduced, which of the following actions should be taken, if any? 68. What is the probability that the project will take more than 30 days to complete? 69. Calculate the start and finish times for each activity. 70. What are the three types of projects based on the amount of change involved?

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