Question 1

One of the assumptions of CPM is that project activity times can be estimated accurately.

Accepted Answer

CPM assumes that project activity times can be estimated accurately, although there is always some degree of uncertainty involved.

Question 2

The "Z" value used to calculate the probabilities in CPM analysis is based on the Beta probability distribution.

Accepted Answer

The "Z" value in CPM (Critical Path Method) analysis is based on the standard normal distribution, not the Beta probability distribution.

Question 3

The expected time estimate in a CPM three time estimate procedure is a weighted average formula.

Accepted Answer

The expected time estimate in a CPM three time estimate procedure is a weighted average formula that takes into account the most likely time, optimistic time, and pessimistic time estimates. The formula weights the most likely time estimate four times as heavily as the optimistic and pessimistic time estimates, averaging them together to arrive at the expected time estimate.

Question 4

Slack activity time is the difference between the early start and the late finish of a project activity time.

Accepted Answer

Slack time is the difference between the late start and early start or the late finish and early finish of a project activity, not the difference between the early start and late finish.

Question 5

In the Time-Cost CPM model,cost is a linear function of time.

Accepted Answer

The answer of In the Time-Cost CPM model,cost is a...

Question 6

In a CPM analysis if you subtract the late finish from the early finish the result is the activity's slack time.

Accepted Answer

This statement is true. Slack time is the amount of time a task can be delayed without delaying the entire project schedule. It is calculated by subtracting the early finish from the late finish or by subtracting the early start from the late start.

Question 7

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.

Accepted Answer

We select the activity to crash by determining the cost of each alternative and selecting the one whose cost is the least, not the greatest.

Question 8

One of the assumptions made using CPM is that project activities can be identified with clear beginning and ending points.

Accepted Answer

This is one of the assumptions made using CPM. It is important to identify clear and specific starting and ending points for each project activity in order to effectively use CPM to manage a project.

Question 9

The critical path in a CPM analysis is found by locating the activities times with zero slack.

Accepted Answer

This statement is true. The critical path is the longest sequence of dependent activities that must be completed in order to finish the project on time. Activities on the critical path have zero slack, meaning there is no extra time available to complete them without delaying the project's overall completion date.

Question 10

To calculate the variances of activity times in CPM analysis we must use all three time estimates (i.e. ,optimistic,most likely and pessimistic time estimates).

Accepted Answer

The answer of To calculate the variances of activity times...

Question 11

Calculating the early start and early finish times for each activity in a CPM analysis does not provide any useful information.

Accepted Answer

Calculating the early start and early finish times for each activity in a CPM (Critical Path Method) analysis is a crucial step in identifying the critical path, which in turn helps in determining the minimum duration required for the project. It provides important information related to the scheduling and sequencing of activities.

Question 12

The activity direct costs associated with a project might include giving workers overtime to complete a project in less-than the expected time.

Accepted Answer

Direct costs are costs that are directly related to the project. Giving workers overtime would be a direct cost associated with the project.

Question 13

When the time estimates in a CPM analysis vary into optimistic,most likely and pessimistic,we should use the single time estimate CPM procedure.

Accepted Answer

When time estimates vary, it is best to use the three-time estimate CPM procedure, which takes into account the optimistic, most likely, and pessimistic estimates to calculate a more accurate expected duration for each activity in the network. The single time estimate CPM procedure only considers one time estimate for each activity, which can result in inaccurate project duration predictions.

Question 14

In calculating the probabilities in a CPM analysis the desired time is determined by calculating the expected time for the project as a whole.

Accepted Answer

The answer of In calculating the probabilities in a CPM...

Question 15

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.

Accepted Answer

The answer of You are managing a project and need...

Question 16

In a CPM analysis if you subtract the early finish from the late finish the result is the activity's slack time.

Accepted Answer

This statement is true. The slack time for an activity is the amount of time that activity can be delayed without delaying the entire project. It is calculated by subtracting the early finish time from the late finish time for the activity. If the result is zero or negative, then the activity is on the critical path and cannot be delayed without delaying the entire project.

Question 17

The "Z" distribution used to calculate the probability of completing a project on time is only useful in calculating probabilities where the desired time is greater than the expected time.

Accepted Answer

The "Z" distribution, or standard normal distribution, is used to calculate probabilities for any time relative to the expected time, whether greater or less than the expected time.

Question 18

We assume in CPM analysis that the activity times are independent and therefore the sum of the variances of the activities along the critical path is the variance of the expected time to complete the path.

Accepted Answer

This assumption holds true in CPM (Critical Path Method) analysis, and is one of the key concepts of the method. By assuming independence and calculating the variances of the activities along the critical path, we can determine the expected time to complete the project and outline the critical path that must be followed in order to complete the project within the given time constraints.

Question 19

The project indirect costs associated with a project include overhead,facilities and resource opportunity costs.

Accepted Answer

Indirect costs are expenses that are not directly related to the specific project but are necessary for the project to function. Examples include administrative costs, rent for facilities, and the cost of equipment or supplies that are shared among multiple projects. These indirect costs are typically included in a project's budget as part of the overhead expenses.

Question 20

Using the Time-Cost CPM model,the crash time is the shortest possible time allowed for each activity in the project.

Accepted Answer

The crash time is the shortest time possible to complete an activity while still increasing the cost.

Quiz 3: Project Management