Chapter 15 PDF

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CHAPTER 15: PROJECT MANAGEMENT (ONLINE) 1. Which of the following correctly describes the focus of the Critical Path Method (CPM)? a. To order activities in a project in terms of their completion time to facilitate scheduling of the activities. b. To determine when a project should be completed and to schedule when each activity in the project must begin in order to keep the project on schedule. c. To estimate the probability of completing a project by a given deadline when the time required to perform the activity is essentially a random variable. d. To structure the activities of a project in order to eliminate or reduce critical dependencies among the activities. ANSWER: b 2. Which of the following correctly describes the focus of the Program Evaluation and Review Technique (PERT)? a. To order activities in a project in terms of their completion time to facilitate scheduling of the activities. b. To determine when a project should be completed and to schedule when each activity in the project must begin in order to keep the project on schedule. c. To estimate the probability of completing a project by a given deadline when the time required to perform the activity is essentially a random variable. d. To structure the activities of a project in order to eliminate or reduce critical dependencies among the activities. ANSWER: c 3. If we are employing Activity-On-Node (AON) network design, the arcs in the network diagram represent a. significance relationships. b. precedence relationships. c. tasks to complete. d. task times. ANSWER: b 4. Which of the following definitions correctly defines the acronym, PERT? a. Program Evaluation and Review Technique. b. Process Evaluation and Review Technique. c. Program Evaluation and Reduction Technique. d. Program Explanation and Reduction Technique. ANSWER: a 5. If we are employing Activity-On-Arc (AOA) network design, the arcs in the network diagram represent a. significance relationships. b. precedence relationships. c. tasks to complete. d. task times. ANSWER: c

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Chapter 15: Project Management (Online) 6. Activity-on-Arc (AOA) networks do not allow multiple arcs with common start and finish nodes. If this must be represented, how is an AOA network modified? a. The network is redrawn into an Activity-on-Node network. b. Connect the arcs to the node using an IFERROR() function. c. Phantom (dummy) activity arcs are added. d. Zero duration activity arcs are added. ANSWER: c 7. What are the immediate predecessors of activity D in this network?

a. A, B, C b. B, C c. E, F d. E, G, H ANSWER: b 8. What are the immediate successors of activity D in this network?

a. A, B, C b. B, C c. E, F d. E ANSWER: c

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Chapter 15: Project Management (Online) 9. How many paths are there in the following project precedence network?

a. 6 b. 7 c. 8 d. 9 ANSWER: d 10. There are various similarities between the CPM and PERT methods. Which of the following is not one of those similarities? a. Any project can be broken down into component activities that require different amounts of time. b. Any project can be broken down into component activities that must be accomplished in a specific order. c. Both techniques use the same method to calculate the time element of the activities in the project. d. Both require a detailed network of the project that clearly indicates each of the main activities and the precedence relationship among the activities. ANSWER: c 11. The longest path through a network is comprised of the a. longest b. essential

activities.

c. mandatory d. critical ANSWER: d

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Chapter 15: Project Management (Online) 12. The critical path is the a. longest b. most expensive

path throughout the network.

c. shortest d. least expensive ANSWER: a 13. The term "time zero" identifies a. the start time for each activity. b. the start time for the project. c. midnight on each work day. d. days with not wasted effort. ANSWER: b 14. Which of the following is true regarding projects? a. Projects can have a unique start activity and a unique finish activity. b. Projects can have multiple start activities and a unique finish activity. c. Projects can have multiple start and finish activities. d. All of these are true regarding projects. ANSWER: d 15. What is the formula for the earliest finish time for activity i? a. EFTi = ESTi + ti b. EFTi = EFTj + tj c. EFTi = EFTi−1 + ti d. EFTi = ESTi − ti ANSWER: a

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 16. What is the earliest start time for activity D in the following diagram?

a. 3 b. 4 c. 6 d. 7 ANSWER: c

17. What is the latest finish time for activity D in the following diagram?

a. 6 b. 13 c. 14 d. 15 ANSWER: b 18. Non-critical activities are distinguished by the presence of a. positive slack. b. idle resources. c. wasted time. d. zero slack. ANSWER: a

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 19. Critical activities are distinguished by the presence of a. slack. b. idle resources. c. wasted time. d. zero slack. ANSWER: d 20. Slack for activity I is computed as a. LFTi − ESTi b. LSTi − ESTi c. ESTi − LSTi d. EFTi − LFTi ANSWER: b 21. Which activities are critical in the following diagram?

a. A, C, D, F b. B, D, E c. A, C, D, E d. A, B, D, E, F ANSWER: a

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 22. Which activities have slack in the following diagram?

a. A, C, D, F b. B, E c. A, C, D, E d. B, D, E ANSWER: b 23. Slack represents the amount of time by which an activity can be delayed without delaying the entire project, assuming that a. all successor activities start at their earliest start times. b. all predecessor activities start at their earliest start times. c. immediate predecessor activities start at their earliest start times. d. all predecessor activities start at their latest start times. ANSWER: b 24. The purpose of the forward pass in the Critical Path Method (CPM) technique is to a. review each of the precedence relationships in the activity network. b. calculate the slack time within each node on the activity network. c. determine the earliest time each activity can start and finish. d. determine the latest time each activity can start and finish. ANSWER: c 25. The purpose of the backward pass in the Critical Path Method (CPM) technique is to a. review each of the precedence relationships in the activity network. b. calculate the slack time within each node on the activity network. c. determine the earliest time each activity can start and finish. d. determine the latest time each activity can start and finish. ANSWER: d

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 26. A strength of Gantt charts is that they a. clearly portray precedence relationships. b. model uncertainty in activity duration times. c. provide a timeline-based, graphical view of when activities can begin and end. d. clearly identifies the critical path. ANSWER: c 27. A weakness of Gantt charts is that they do not explicitly a. indicate activity times. b. show precedence relationships. c. show activity start times. d. show activity finish times. ANSWER: b Exhibit 15.1 The following questions employ the AON network and partial spreadsheet below.

A B C D E F 1 Activity Description Predecessor Time EST EFT 2 A Activity A 4 0 4 3 B Activity B A 3 4 7 4 C Activity C A 2 4 6 5 D Activity D ? 7 ? ? 6 E Activity E D 1 14 15 7 F Activity F D 2 14 16 8 G Activity G E,F 3 16 19 28. Refer to Exhibit 15.1. What values are placed in cell C5 of the spreadsheet? a. E, F b. B

G LST 0 4 5 ? 15 14 16

H I LFT Slack 4 7 7 ? 16 16 19

c. C d. B, C ANSWER: d

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online)

29. Refer to Exhibit 15.1. What array formula is placed in cell E5 to calculate the Earliest Start Time? a. E2 + D2 b. MAX(IF(ISERR(FIND($A$5:$A$17,C5)),0,$F$5:$F$17)) c. H2 − D2 d. MIN(IF(ISNUMBER(FIND(A5,$C$2:$C$8)),$G$2:$G$8)) ANSWER: b 30. Refer to Exhibit 15.1. What array formula is placed in cell H5 to calculate the Latest Finish Time? a. E2 + D2 b. MAX(IF(ISNUMBER(FIND($A$2:$A$8,C5)),$F$2:$F$8)) c. H2 − D2 d. MIN(IF(ISERR(FIND(A5,$C$5:$C$17)),MAX($F$5:$F$17),$G$5:$G$17)) ANSWER: d Exhibit 15.2 The following questions employ the AON network and completed spreadsheet below.

A B C D E F G H I 1 Activity Description Predecessor Time EST EFT LST LFT Slack 2 A Activity A 4 0 4 0 4 0 3 B Activity B A 3 4 7 4 7 0 4 C Activity C A 2 4 6 5 7 1 5 D Activity D B,C 7 7 14 7 14 0 6 E Activity E D 1 14 15 15 16 1 7 F Activity F D 2 14 16 14 16 0 8 G Activity G E,F 3 16 19 16 19 0 31. Refer to Exhibit 15.2. Which of the following activities is not on the critical path for the network? a. Activity A b. Activity C c. Activity D d. Activity G ANSWER: b

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Chapter 15: Project Management (Online)

32. Refer to Exhibit 15.2. What formula is placed in cell G5 to calculate the Latest Start Time? a. H5 − G5 b. F5 − G5 c. H5 − D5 d. F5 − D5 ANSWER: c 33. Shortening the activity completion time is called a. expediting b. speeding c. accelerating d. crashing ANSWER: d 34. What formula should go in cell H3 of the following spreadsheet to compute Crash Cost Per Day? A 1 2 3 4 5 6 7 8 9

B

Activity Description A − B − C − D − E − F − G − COSTS a. =(C3-E3)/(F3-D3) b. =(F3-D3)/(C3-E3)

C Normal Time 4 3 2 7 2 2 3

D Cost 12000 6000 18000 14000 3500 6000 9000

E Crash Time 2 2 1 4 1 1 1

F Cost 14000 6500 19000 20000 4000 7500 12000

G Allowable Crash Days 2 1 1 3 1 1 2

H Crash Cost Per Day 1000 500 1000 2000 500 1500 1500

c. =(F3)/(C3-E3) d. =(F3-D3)/(E3) ANSWER: b

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 35. What formula should go in cell I5 of the following spreadsheet to compute Actual Time Between Starts? A 1 2 3 4 5 6 7 8 9 10 11 12 13 14

a. b. c. d.

B

C D E LP Model For Project Crashing

Nodes Activity A B C D E F G

Normal Time 4 3 2 7 1 2 3

Start Time 0 4 4 6 14 13 15

Total Crash Cost: Finish Time: MODEL

F

Amount Crashed 0 1 0 0 0 0 0

G

Arcs From A A B C D D E F

H

To C B D D E F G G

I

Actual Between 4 4 2 2 8 7 1 2

J Minimum Time Between 4 4 2 2 7 7 1 2

500 18

=VLOOKUP(H5,$B$5:$D$11,3)-VLOOKUP(G5,$B$5:$D$11,3) =VLOOKUP(H5,$B$5:$D$11,2)-VLOOKUP(G5,$B$5:$D$11,2) =VLOOKUP(G5,$B$5:$D$11,3)-VLOOKUP(H5,$B$5:$D$11,3) =VLOOKUP(H5,$B$5:$D$11,3)-VLOOKUP(G5,$B$5:$D$11,3) ANSWER: a

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 36. If the following project must be completed by day 18 at minimum cost how do we change the LP model? A 1 2 3 4 5 6 7 8 9 1 11 1 1 1

B

C D E LP Model For Project Crashing

Nodes Activity A B C D E F G

Normal Time 4 3 2 7 1 2 3

Start Time 0 4 4 6 1 1 1

Total Crash Cost: Finish Time: MODE a. Enter 18 in cell E14. b. Add a constraint that E14 ≤ 18.

F

Amount Crashed 0 1 0 0 0 0 0

G

Arcs From A A B C D D E F

H

Too C B D D E F G G

I

Actual Between 4 4 2 2 8 7 1 2

J Minimu Time Between 4 4 2 2 7 7 1 2

500 18

c. Make cell E14 the target cell. d. Add a constraint that E14 = 18. ANSWER: b 37. What is the correct formula to compute the expected duration of an activity using PERT? a. b. c. d. ANSWER: d

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 38. What is the correct formula to compute the variance of an activity using PERT? a. b. c. d. ANSWER: a 39. In a PERT network the time required to complete a path is a(n) a. constant b. random variable c. Poisson distributed variable d. exponentially distributed variable ANSWER: b 40. One of PERT's bold assumptions is that a. individual activity times are independent of each other. b. individual activity times are dependent of each other. c. individual activity times are constant. d. individual activity times can be added together. ANSWER: a 41. The critical path in PERT analysis is the path with the a. smallest variance. b. longest expected completion time. c. smallest number of tasks. d. smallest variance and longest expected completion time. ANSWER: b

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 42. A company wants to use PERT to manage a project. They have developed the following spreadsheet for the problem. If The Risk Solver Platform (RSP) is used, what formula should go in cell F3 of the spreadsheet to compute the Activity Time when simulating a PERT analysis?

1 2 3 4 5 6 7 8 9

A B C D Time Estimates Act a m b A 8 10 14 B 2 3 4 C 3 4 5 D 5 8 12 E 1 2 4 F 3 5 7 G 1 2 3 MODEL

E Random Number 0.73 0.19 0.56 0.94 0.35 0.09 0.59

F Activity Time 11.46 2.62 4.06 10.72 2.03 3.87 2.09

G

H

I

J

K

EST 0 11.462 11.462 15.521 26.24 26.24 30.109

EFT 11.462 14.081 15.521 26.24 28.272 30.109 32.202

LST 0.00 12.90 11.46 15.52 28.08 26.24 30.11

LFT 11.46 15.52 15.52 26.24 30.11 30.11 32.20

SLACK 0.00 1.44 0.00 0.00 1.84 0.00 0.00

L

** ** ** ** **

a.

=IF(E3≤(C3-E3)/(D3-B3),D3-SQRT((D3-B3)*(D3-C3)*(1-E3)),B3+SQRT((D3-E3)*(C3-B3)*E3))

b. c.

=IF(E3≤(D3-B3)/(C3-E3),B3+SQRT((D3-E3)*(C3-B3)*E3),D3-SQRT((D3-B3)*(D3-C3)*(1-E3))) =IF(E3≤(C3-E3)/(D3-B3),B3-SQRT((D3-E3)*(C3-B3)*E3),D3+SQRT((D3-B3)*(D3-C3)*(1-E3)))

d. =PsiTriangular(B3,C3,D3) ANSWER: d

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Chapter 15: Project Management (Online) Exhibit 15.3 The following questions are based on the information below. A company needs to manage a project which consists of the following set of activities:

Activity A B C D E F G

Days Required 5 3 4 7 6 5 4

Predecessor Activities  A A B, C C E D, F

43. Refer to Exhibit 15.3. Draw the CPM network for this problem. Use AON notation.

ANSWER: 44. Refer to Exhibit 15.3. Manually determine the earliest and latest start and finish times for each activity and the amount of slack for each activity. What is the critical path for the project and how long should it take to complete it? ANSWER: Activity A B C D E F G

Time 5 3 4 7 6 5 4

EST 0 5 5 9 9 15 20

EFT 5 8 9 16 15 20 24

LST 0 10 5 13 9 15 20

LFT 5 13 9 20 15 20 24

Slack 0 5 0 4 0 0 0

Critical path = A-C-E-F-G

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online)

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 45. Refer to Exhibit 15.3. Identify each path through the network and its expected length. ANSWER: A-B-D-G = 19 DAYS A-C-E-F-G = 24 DAYS A-CD-G = 20 DAYS 46. Refer to Exhibit 15.3. The following spreadsheet was developed to determine the earliest start times and latest start times for the project. What formulas should go into cells E2:E8 to calculate Earliest Start Times?

A 1Activity 2 A 3 B 4 C 5 D 6 E 7 F 8 G

B Description Activity A Activity B Activity C Activity D Activity E Activity F Activity G

C Predecessor A A B,C C E D, F

D

E

F

G

H

Time 5 3 4 7 6 5 4

EST 0 5 5 9 9 15 20

EFT 5 8 9 16 15 20 24

LST 0 10 5 13 9 15 20

LFT 5 13 9 20 15 20 24

I Slack 0 5 0 4 0 0 0

ANSWER: Cell E2

Formula =MAX(IF(ISNUMBER(FIND($A$2:$A$8,C2)),$F$2:$F$8))

Copied to: E3:E8

47. Refer to Exhibit 15.3. The following spreadsheet was developed to determine the earliest start times and latest start times for the project. What formulas should go into cells H2:H8 to calculate Latest Finish Times?

A Activity A B C D E F G

1 2 3 4 5 6 7 8

B C Description Predecessor Activity A Activity B A Activity C A Activity D B,C Activity E C Activity F E Activity G D, F

D Time 5 3 4 7 6 5 4

E EST 0 5 5 9 9 15 20

F EFT 5 8 9 16 15 20 24

G LST 0 10 5 13 9 15 20

H LFT 5 13 9 20 15 20 24

I Slack 0 5 0 4 0 0 0

ANSWER: Cell H2

Formula =MIN(IF(ISNUMBER(FIND(A2,$C$2:$C$8)),$G$2:$G$8))

Copied to: H3:H8

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Chapter 15: Project Management (Online) 48. Refer to Exhibit 15.3. The following spreadsheet was developed to determine the earliest start times and latest start times for the project. What formulas should go into cells F2:F8 to calculate Earliest Finish Times, G2:G8 to calculate Latest Start Times, and cells I2:I8 to calculate the Slack?

1 2 3 4 5 6 7 8

A Activity A B C D E F G

B Description Activity A Activity B Activity C Activity D Activity E Activity F Activity G

C Predecessor A A B,C C E D, F

D Time 5 3 4 7 6 5 4

E EST 0 5 5 9 9 15 20

F EFT 5 8 9 16 15 20 24

G LST 0 10 5 13 9 15 20

H LFT 5 13 9 20 15 20 24

I Slack 0 5 0...