Question 1

Time and effort needed to gather experience on a technology or process are _____

Accepted Answer

Time and effort needed to gather experience on a technology or process are referred to as learning curve costs. These costs can be considered as a type of indirect cost because they are not directly tied to production or manufacturing, but they are necessary for employees to become proficient and efficient in their work.

Question 2

Waiting to leave your shift until another person shows up is an example of:

Accepted Answer

Start-To-Finish (SF) is a dependency where the start of one task controls the finish of another. In this case, the start of the next person's shift controls the finish of your shift.

Question 3

Rolling wave planning is:

Accepted Answer

Rolling wave planning is a technique where a summary plan is developed and then incremental detailed schedules are created. It allows for flexibility and adjustments as the project progresses. Option A is incorrect as rolling wave planning only involves creating a summary plan and incremental schedules, not a large plan encompassing all project items. Option B is incorrect as it is the opposite of rolling wave planning, which only includes the necessary level of detail in each stage. Option D and E are incorrect as they include options that do not align with the definition of rolling wave planning.

Question 4

Under the Precedence Diagramming Method, the situation which occurs when two activities can start at different times, have different durations, but are planned to be competed at the same time is called:

Accepted Answer

Finish-to-Finish (FF) is the situation where two activities have different start times and durations but are planned to finish at the same time. This allows for flexibility in scheduling and can help optimize resources.

Question 5

Costs incurred prior to the current project are _____

Accepted Answer

Costs incurred prior to the current project are considered sunk costs, as they have already been spent and cannot be recovered. Direct costs are expenses specifically related to the project, while indirect costs are general overhead expenses. Learning curve costs are related to the time it takes to become proficient in a specific task or project. Reserves costs are funds set aside for unexpected expenses or contingencies.

Question 6

Once the project schedule and project budget are approved they become the _____

Accepted Answer

The approved project schedule and project budget become the baseline plan, representing the original plan against which actual progress is measured and deviations are identified. The derivative plan, project plan, and schedule plan are all related to but not specific to the approved schedule and budget.

Question 7

Critical Chain Project Management (CCPM) is based on the idea that

Accepted Answer

CCPM recognizes that people often add extra time to their estimates to account for unpredictable events, but this can lead to unnecessary delays and inefficiencies. By focusing on the critical chain (the longest sequence of dependent tasks in the project), CCPM aims to streamline the project schedule and reduce the impact of unforeseen delays. Options B and C are incorrect because PERT/CPM is still widely used today and Precedence Diagramming can account for non-critical paths in the project.

Question 8

Define predecessor, successor, and parallel activities.Give a real world example of each.

Accepted Answer

The answer of Define predecessor, successor, and parallel activities.Give a...

Question 9

Scheduling other projects so that resources may be shared is_____

Accepted Answer

Critical Chain Project Management is a project management technique that involves scheduling and coordinating multiple projects in a way that optimizes resource utilization. By using the critical chain approach, resources can be shared effectively, reducing the risk of conflicts and delays in project delivery. The approach focuses on identifying the critical path of a project and using this information to prioritize tasks and allocate resources. This way, the use of resources can be optimized and shared effectively between projects.

Question 10

Rent, utilities, insurance and administrative costs are examples of:

Accepted Answer

Rent, utilities, insurance and administrative costs are considered indirect costs as they are not directly related to the production of goods or services. Indirect costs are typically overhead expenses necessary to maintain the overall operation of a business.

Question 11

Under the Precedence Diagramming Method, the least common relationship between two activities which occurs when they must complete at the same time is called:

Accepted Answer

Finish-To-Finish (FF) is the least common relationship in the Precedence Diagramming Method, indicating that two activities must finish at the same time.

Question 12

The cost of labor for using a resource are _____

Accepted Answer

The cost of labor is a direct cost because it is a cost that is directly related to using the resource. Direct costs are expenses that can be specifically attributed to a particular product or service, such as the cost of materials and labor for producing a product.

Question 13

The final step in determining the cost of an activity is:

Accepted Answer

The answer of The final step in determining the cost...

Question 14

Installing the operating system on a computer before loading any application packages is an example of:

Accepted Answer

Finish-to-Start (FS) is a logical relationship in project management where the start of one activity depends on the completion of a predecessor activity. In this case, installing the operating system is a predecessor activity that must be completed before loading any application packages, hence it is an example of Finish-to-Start.

Question 15

Many organizations have a kick-off meeting because

Accepted Answer

A kick-off meeting can bring closure to the planning phase, signal the initiation of the next phase, communicate the project's goals and objectives, and energize stakeholders. Therefore, all of the given options are correct.

Question 16

To make a decision to attempt to build an application system based on what was left after a previous attempt ended in failure primarily because of the large investment the company made in the failed project most likely was made by a manager who did not fully understand:

Accepted Answer

The decision to attempt to build an application system based on what was left after a previous attempt ended in failure primarily because of the large investment the company made in the failed project most likely indicates that the manager did not fully understand sunk costs. Sunk costs are costs that have already been incurred and cannot be recovered, even if the decision to continue with the project is abandoned. It is not a relevant factor in decision-making because it is already spent and cannot be recovered. Therefore, basing a decision on sunk costs is not a rational decision.

Question 17

Under the Precedence Diagramming Method, the situation which occurs when task A cannot end until task B starts is called:

Accepted Answer

Start-To-Finish (SF) is the correct term for the situation where task A cannot end until task B starts. This is a less common dependency compared to others like Finish-To-Start, but it is recognized in project management methodologies.

Question 18

Funds allocated for unexpected expenses are _____

Accepted Answer

Reserves Costs are funds allocated for unexpected expenses, also known as contingency funds or reserves. Direct costs are expenses that can be directly attributed to a specific project or product, while indirect costs are expenses that cannot be directly linked to a specific project or product. Sunk costs are costs that have already been incurred and cannot be recovered. Learning curve costs refer to the time and resources it takes to learn how to perform a new task more efficiently.

Question 19

The idea that there is a cost associated with using a resource is _____

Accepted Answer

The idea that there is a cost associated with using a resource is prorated costs. Prorated costs are costs that are spread out over a period of time. This is in contrast to sunk costs, which are costs that have already been incurred and cannot be recovered.

Question 20

_____is ensuring that project resources are not overallocated.

Accepted Answer

Resource leveling is the process of ensuring that project resources are not overallocated. This is achieved by adjusting the project schedule to minimize overallocations and avoid burnout of resources. Resource constraining and resource starving are not valid terms in project management. Resource management is a broader term that includes resource leveling. Resource addition may not be necessary if the project has already allocated sufficient resources.

Quiz 6: The Work Breakdown Structure and Project Estimation