project management quiz

Project Management Quiz

1-What two heuristics did we use to select the activities to be crashed?

2-How can activities with slack time be utilized to shorten the project duration?

3-Shortening the duration of a project generally will not decrease which type of costs?.......................................Why?

4-Management will usually choose projects that have the highest internal rate of return. However, management may be forced to choose projects with a lower internal rate of return when the projects pertain to …………………………………. or ………………………………

5-Estimates based on ………………. are generally most accurate.

6-The sum of the slack times of activities on the critical path is always equal to……………..

7-The sum of the durations of activities on the critical path is always equal to……………………………………………….

8 Parents generally learn by the time their children are teenagers that they must choose their battles as their teenagers want to assume more independence but the parents are worried about their safety. What conflict management style are they choosing when they decide that the situation is not worth the battle?

9 When the parents in question 8 say “No” to their teenager very emphatically they are using what conflict management style?..........................................

10 Conflicts generally occur in an organization due to conflicting…………………………….

11 The best way for a PM to save time is to .…………………………………….?

12. ………………………………. occurs when a project sponsor or stakeholder wants something added after the start of implementation of a project.

13. The person or organization who provides the money to do a project is known as the ………………………………………………..

14-Two common types of network formats are:

15-Slack time is equal to …………………………..Minus …………………………………..

16-The NPV of a project with an installation cost of $100,000 (to be paid at the start of the project) in a project that will generate a savings to the owner of $50,000 for 5 years (5 savings payments) without taking into account the time value of money is equal to……………………………………..

17-If two paths through a network are both critical then they have equal…………………………

18 …………………………………….are calculated in performing the backward pass through a network.

19-How is true communication becoming like “one”?

20-The more contemporary way of thinking about conflicts in an organization is………………………………………………………………… whereas in the past they were thought of as…………………………………………………………………

21 -

1) Draw the Network performing forward and backward passes giving ES,EF,LS, & LF in the box for each activity

2) Your staff has found a way to reduce the time to do activity H to 4 months. What will the effect be on the critical path and Project Duration if H is reduced to 4 mos?

3) Given crash costs in the last column which activity should be crashed for 1 month 1st?

Activity	Preceding Activity	Duration months	Cost to Crash 1st Month
Start		0
D	Start	4	$1,000
A	Start	6	$1,200
F	D, A	7	$1,300
E	D	8	$1,400
G	F, E	5	$1,500
H	F	5	$1,600
B	G	7	$1,700
C	B	8	$1,800
End	C, H	0

Use this format for the activities boxes

Activity			ES	LS
Duration	EF	LF
		Slack