61. Which of the following is true?
a. The critical path is the path through the network that has the highest total duration
b. The critical path is the path with the least amount of free float
c. The critical path is the list of activities that have zero float
d. The critical path is the list of activities that have critical risks associated with them
62. Resource leveling will generally:
a. Reduce the time needed to do the project
b. Increase the total time necessary to do all the tasks
c. Reduce the over utilization of resources
d. Reduce resources to the lowest skill that is possible
63. A task was scheduled to use two persons, full time, and take two weeks to complete.Instead, the project manager was only able to assign one person to this task. At the endof two weeks, the person assigned to the task was 75% complete. What is the costperformance index?
64. Five tasks are scheduled to be completed in sequence. Each task has a finish-startrelationship with the next task. Each has one day of total float. As of today, task one andtwo have been completed on schedule. How many days of float remain in the scheduleof these tasks?
65. Which of the following is considered to be a simulation technique?
a. PERT analysis
b. GERT analysis
c. Monte Carlo analysis
d. Critical path method
66. The main difference between the two types (ADM, arrow diagramming method, and PDM, precedence diagramming method) of the critical path method (CPM) of scheduling is:
a. Placement of the activity on the logic diagram line
b. Arrow diagramming method (ADM) is a deterministic method, whereas the
precedence diagramming method (PDM) is a probabilistic method
c. Precedence diagramming method (PDM) is a deterministic method, whereas the arrow diagramming method (ADM) is a probabilistic method
d. Precedence diagramming method (PDM) is a more accurate method
67. The project schedule is not used to determine:
a. The start and finish dates of the activities
b. Occasional changes to the activity listing
c. The total float of the activities
d. The project’s budget
68. A project manager wants to make a trip to California by car. The project manager knows how many miles it will be to drive to California, the current price of gasoline, and how many miles the car will go on a gallon of gasoline. From this information he or she can calculate the estimated cost of the gasoline for the trip. This is a form of what kind of estimating technique?
69. A project manager wants to make a trip to California by car. The project manager knows someone who has made this trip before. This person has a similar car to the one that the project manager has, and the person has kept good records on the money spent for fuel on the trip. The distance that the project manager will travel is 10% farther than the other person’s trip. By multiplying the cost of fuel reported by the other person by 1.1, the project manager is performing what kind of estimate?
70. To distinguish top-down estimates from bottom-up estimates, it would be correct to say that the bottom-up estimate would be:
a. Less accurate
b. About equal in accuracy to the top-down estimate
c. More accurate
d. No different to perform than the top-down estimate
71. A project manager and the project team identify several specific risks in a project. The expected value of these risks is estimated at $10,000. The impact on the project brought about by these risks is estimated at $40,000. What value should be entered into the management reserve for these risks?
72. A project manager and the project team identify several specific risks in a project. The expected value of these risks is estimated at $10,000. The impact on the project brought about by these risks is estimated at $40,000. What value should be entered into the contingency reserve for these risks?
73. What characteristic best describes the cost baseline?
a. Total budget for the project
b. Time-phased budget for the project
c. Total budget for the project including the contingency budget
d. Total budget for the project including the contingency budget and the management reserve
74. A project is formed to produce a product that will be used for transporting people. Costs that are associated with the project that occur after the delivery of the product to the customer are considered to be what kind of cost?
a. Prorated cost
c. Life cycle cost
d. Expected value
75. A project team receives an approved change request from customer. The team has previously estimated that the cost to implement this change is $10,000. The customer has agreed to pay this amount for the additional work. The customer realizes that there is a 50 percent chance that this change will not work and will later be removed. What change, if any, should be made in the budget?
a. The project budget should not be increased
b. The project budget should be increased by $15,000
c. The project budget should be increased by $10,000
d. The project budget should be increased by $5,000
76. The act of doing anything that will help to bring future project performance into line with the project plan is called:
a. Budget update
b. Revised cost estimate
c. Corrective action
d. Contingency planning
77. Which of the following choices would be an acceptable cause for “rebaselining” a $10 million project?
a. The monthly consumer price index on some of the commodities used on the project has been identified as having gone up by 1.6%, an increase of 46% over the 1.1% that had been budgeted
b. The client has authorized a $10,000 addition to the scope of the project
c. The contractor’s company has instituted a quality program on which it has pledged to spend $1 million during the next year
d. The productivity in the drafting department has been shown to be lower than anticipated, which has resulted in 1,000 additional hours, a 78% increase over what was budgeted
78. In terms of earned value reporting, a project is considered complete when:
a. The BAC is equal to the PV
b. The EV is equal to the AC
c. The PV is equal to the AC
d. The BAC is equal to the EV
79. The time-phased cost of the project that reflects the expenditures rather than the consumption of a resource that will be used to measure and monitor cost performance on a project is the:
a. Spending plan
b. Cost baseline
80. A large piece of equipment is needed for the project. It will be retained and used after the project is completed. The equipment has a value of $500,000, and it has a scrap value of $50,000 at the end of its useful life of ten years. If the sum of the years’ digits method of depreciation is used, what is the depreciation that is taken at the end of the third year?
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The critical path is the list of activities that have zero float
Additional Note: C is still the best answer. Highest total duration is for the Longest Path but not necessarily the critical path.
Reduce the over utilization of resources
Monte Carlo analysis
Placement of the activity on the logic diagram line
The project’s budget
Time-phased budget for the project
Life cycle cost
The project budget should be increased by $10,000
The client has authorized a $10,000 addition to the scope of the project
The BAC is equal to the EV
Spending plan, which is the plan for the flow of money to pay for the project
Additional Note: Cost Baseline seems like the right answer, but Spending Plan reflects the expenditures rather than consumption of a resource.