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QUESTIONS – Homework #8.

BANA 3000, Operation Management – Summer 2016

Instructions.

All questions are multiple choice.

Submit answers only through Canvas on or before the due date. No answers will be accepted other than through Canvas.

No answers are accepted after the due date. If no answers are submitted by the due date, the grade will be half of the total points.

Take care and note that answers through Canvas may only be submitted once. Therefore, download the Word file with the homework questions. Obtain all the answers. Then submit answers by taking the exam which is the same as homework.

Project Management

Project Management, CPM and EVA

Part 1 . Question 1. How many of the statements are true?

(A) 0 (B) 1 (C) 2 (D) 3 (E) 4

Statement 1. A critical activity will have a slack greater than zero.

Statement 2. A project with a positive cost variance is considered over budget.

Statement 3. A positive schedule variance will always result in a cost performance index greater than one.

Statement 4. The early start and early finish of a CPM is the Gantt chart in table form.

Part 2 . Questions 2-5

Consider the project where the duration is in days.

Activity	1	2	3	4	5	6	7
Duration	8	4	6	5	1	9	8
Predecessors	2,7	3	---	3	1,6	4,7	3

Question 2. What is the time of completion?

(A) 24 (B) 21 (C) 23 (D) 26 (E) none of the above

Question 3. Which activity has the latest early finish?

(A) 1 (B) 5 (C) 3 (D) 7 (E) none of the above

Question 4. What is the critical path?

(A) 1,2,3,5 (B) 1,3,5,7 (C) 3,4,5,6 (D) 3,5,6,7 (E) none of the above

Question 5. Which activity would be the best candidate to outsource because it has the greatest slack? (A) 1 (B) 2 (C) 6 (D) 4 (E) none of the above

Part 3 . Questions 6-7

Consider the cost baseline for a project reported from the project charter.

			Month
		1	2	3	4	5
		Jan	Feb	Mar	Apr	May
Activities	1	100	200	600
	2		400	500	100
	3			400	800	100
	4			300	600	100

An earned value analysis was conducted the end of March with the following results:

· The actual cost at the end of March is $1,500.

· The percent completion of the activities at the end of March is

Activity	1	2	3	4
% Complete	100	60	20	0

Question 6. How is the project described in the project charter?

(A) A 3-month $2500 project

(B) A 5-month $1760 project

(D) A 5-month $4200 project

(E) none of the above

Question 7. What are the values in the EVA?

(A) EV=$1760, AC=$1500, PV=$4200

(B) EV=$4200, AC=$1760, PV=$2500

(D) EV=$2500, AC=$4200, PV=$1500

(E) none of the above

Part 4. Questions 8-9

An EVA for an 8-month, $520,000 project yielded the following values:

Earned Value =	$42000
Actual Cost =	$52500
Planned Value =	$33600

Question 8. For the EVA, what are the cost variance and the schedule performance index?

(A) +$10500 & 0.80

(B) –$10500 & 1.25

(D) –$8400 & 1.25

(E) none of the above

Question 9. From the EVA, what are the estimates at completion?

(A) A 6.4-month $650000 project

(B) A 10-month $650000 project

(D) A 10-month $416000 project

(E) none of the above

Part 5. A company would like to use an earned value analysis to review one of their projects. The budgeted amounts for each activity in dollars have been reported.

Month	1	2	3	4	5	6	7	8	9	10
Activity	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct
1	150	260	650	200
2		220	370	640	440	340	165
3				300	800	900	600	200
4					502	1200	700	500	300	300

At the end of May the actual cost is reported to be $4054 and the percent completion of the activities are

Activity	1	2	3	4
% Complete	100	80	40	0

Question 10. From an earned value analysis the end of May, what are the estimated cost at completion in dollars and the estimated time at completion in months?

(A) A 9.8 month $10711 project.

(B) A 11.0 month $10711 project.

(D) A 9.8 month $9581

(E) none of the above

>>>END OF HOMEWORK<<<