Question 1

Cost slope can be determined by dividing the

Accepted Answer

Cost slope = Rise/Run.

Question 2

In a Project Cost-Duration Graph, total project costs are a sum of

Accepted Answer

Direct costs commonly represent labor, materials, equipment, and sometimes subcontractors.Indirect costs generally represent overhead costs such as supervision, administration, consultants, and interest.Total costs are a sum of direct and indirect costs.

Question 3

The less steep the cost slope of an activity, the

Accepted Answer

The less steep the cost slope of an activity, the less it costs to shorten one time period.

Question 4

Which of the following is NOT considered a project indirect cost?

Accepted Answer

Indirect costs generally represent overhead costs such as supervision, administration, consultants, and interest.Direct costs commonly represent labor, materials, equipment, and sometimes subcontractors.

Question 5

When reducing project duration, the crash cost per unit has to be calculated and the maximum units each activity can be reduced must be known.After this, the critical path must be identified.What is the next step?

Accepted Answer

After the critical path has been identified the activity with the lowest crash cost is reduced one time unit.This reduces the entire project by one time unit at the lowest cost.

Question 6

The shortest possible time an activity can be completed realistically is called ___­­­_____ time.

Accepted Answer

The shortest possible time an activity can realistically be completed in is called its crash time.

Question 7

An activity's crash cost includes ________ costs.

Accepted Answer

The direct cost for completing an activity in its crash time is called crash cost.Both normal and crash times and costs are collected from personnel most familiar with completing the activity.

Question 8

Adverse weather, design flaws, and equipment breakdown can create negative slack.This is an example of reducing project duration caused by

Accepted Answer

Another common reason for reducing project time occurs when unforeseen delays-for example, adverse weather, design flaws, and equipment breakdown-cause substantial delays midway in the project.

Question 9

Which of the following correctly calculates an activity's cost slope?

Accepted Answer

The activity's cost slope is calculated by rise/run or (crash cost - normal cost)/(normal time - crash time).

Question 10

Emily has recently learned that she needs to reduce the duration of her project to meet an imposed deadline.She has calculated the crash cost per unit and knows the maximum units each activity can be reduced.What is the next step?

Accepted Answer

After the crash cost per unit has been calculated and the maximum units each activity can be reduced are known, it can be determined which activity or activities need to be crashed to reduce the project duration one time unit.In order to reduce project duration, activities must be crashed on the critical path.

Question 11

A contractor finished a bridge across a lake 18 months early and received more than $6 million for the early completion.This is an example of reducing project duration caused by

Accepted Answer

Incentive contracts can make reduction of project time rewarding-usually for both the project contractor and owner.For example, a contractor finished a bridge across a lake 18 months early and received more than $6 million for the early completion.The availability of the bridge to the surrounding community 18 months early to reduce traffic grid-lock made the incentive cost to the community seem small to users.

Question 12

Intense global competition and rapid technological advances create pressure to develop projects rapidly.This is an example of reducing project duration caused by

Accepted Answer

Intense global competition and rapid technological advances have made speed a competitive advantage.To succeed, companies have to spot new opportunities, launch project teams, and bring new products or services to the marketplace in a flash.

Question 13

The direct cost for completing an activity in the shortest time it can realistically be completed in is called its __________ cost.

Accepted Answer

The shortest possible time an activity can realistically be completed in is called its crash time.The direct cost for completing an activity in its crash time is called crash cost.

Question 14

Without any formal planning, the president of a software company remarks in a speech that new technologically advanced software will be available in one year.This may lead to a project that must be done faster than anticipated.This is an example of reducing project duration caused by

Accepted Answer

Imposed deadlines are another reason for accelerating project completion.For example, the president of a software company remarks in a speech that new advanced software will be available in one year.Such statements too often become imposed project duration dates-without any consideration of the problems or cost of meeting such a date.The project duration time is set while the project is in its "concept" phase before or without any detailed scheduling of all the activities in the project.This phenomenon occurs very frequently in practice.

Question 15

In selecting the best activity to crash you would first select the activity with the

Accepted Answer

The less steep the cost slope of an activity, the less it costs to shorten one time period.

Question 16

When determining which activity to crash, there are other factors that should be assessed beyond cost.Which of the following is NOT one of these factors?

Accepted Answer

The level of difficultly is not a major factor that needs to be assessed before determining which activity to crash.

Question 17

As a project is crashed and project duration is reduced, direct costs typically

Accepted Answer

When project durations are imposed, direct costs may no longer represent low-cost methods.Costs for the imposed duration date will be higher than for a project duration developed from ideal normal times for activities.

Question 18

Before crashing, direct costs for an activity represent normal costs, which typically mean low-cost, efficient methods for completing the activity in a(n)________ amount of time.

Accepted Answer

Normal time assumes low-cost, efficient methods to complete the activity.

Question 19

When reducing project duration, the duration for a project that is optimal is at the point where

Accepted Answer

The optimum cost-time point for a project is when the total project costs are the lowest.

Question 20

As a project is crashed and project duration is reduced, indirect costs typically

Accepted Answer

Indirect costs vary with time.That is, any reduction in time should result in a reduction of indirect costs.

Quiz 9: Reducing Project Duration

Cost slope can be determined by dividing the

In a Project Cost-Duration Graph, total project costs are a sum of

The less steep the cost slope of an activity, the

Which of the following is NOT considered a project indirect cost?

When reducing project duration, the crash cost per unit has to be calculated and the maximum units each activity can be reduced must be known.After this, the critical path must be identified.What is the next step?

The shortest possible time an activity can be completed realistically is called ____ time.

An activity's crash cost includes ________ costs.

Adverse weather, design flaws, and equipment breakdown can create negative slack.This is an example of reducing project duration caused by

Which of the following correctly calculates an activity's cost slope?

Emily has recently learned that she needs to reduce the duration of her project to meet an imposed deadline.She has calculated the crash cost per unit and knows the maximum units each activity can be reduced.What is the next step?

A contractor finished a bridge across a lake 18 months early and received more than $6 million for the early completion.This is an example of reducing project duration caused by

Intense global competition and rapid technological advances create pressure to develop projects rapidly.This is an example of reducing project duration caused by

The direct cost for completing an activity in the shortest time it can realistically be completed in is called its __________ cost.

Without any formal planning, the president of a software company remarks in a speech that new technologically advanced software will be available in one year.This may lead to a project that must be done faster than anticipated.This is an example of reducing project duration caused by

In selecting the best activity to crash you would first select the activity with the

When determining which activity to crash, there are other factors that should be assessed beyond cost.Which of the following is NOT one of these factors?

As a project is crashed and project duration is reduced, direct costs typically

Before crashing, direct costs for an activity represent normal costs, which typically mean low-cost, efficient methods for completing the activity in a(n) ________ amount of time.

When reducing project duration, the duration for a project that is optimal is at the point where

As a project is crashed and project duration is reduced, indirect costs typically

Quiz 9: Reducing Project Duration

Cost slope can be determined by dividing the

In a Project Cost-Duration Graph, total project costs are a sum of

The less steep the cost slope of an activity, the

Which of the following is NOT considered a project indirect cost?

When reducing project duration, the crash cost per unit has to be calculated and the maximum units each activity can be reduced must be known.After this, the critical path must be identified.What is the next step?

The shortest possible time an activity can be completed realistically is called ___­­­_____ time.

An activity's crash cost includes ________ costs.

Adverse weather, design flaws, and equipment breakdown can create negative slack.This is an example of reducing project duration caused by

Which of the following correctly calculates an activity's cost slope?

Emily has recently learned that she needs to reduce the duration of her project to meet an imposed deadline.She has calculated the crash cost per unit and knows the maximum units each activity can be reduced.What is the next step?

A contractor finished a bridge across a lake 18 months early and received more than $6 million for the early completion.This is an example of reducing project duration caused by

Intense global competition and rapid technological advances create pressure to develop projects rapidly.This is an example of reducing project duration caused by

The direct cost for completing an activity in the shortest time it can realistically be completed in is called its __________ cost.

Without any formal planning, the president of a software company remarks in a speech that new technologically advanced software will be available in one year.This may lead to a project that must be done faster than anticipated.This is an example of reducing project duration caused by

In selecting the best activity to crash you would first select the activity with the

When determining which activity to crash, there are other factors that should be assessed beyond cost.Which of the following is NOT one of these factors?

As a project is crashed and project duration is reduced, direct costs typically

Before crashing, direct costs for an activity represent normal costs, which typically mean low-cost, efficient methods for completing the activity in a(n) ________ amount of time.

When reducing project duration, the duration for a project that is optimal is at the point where

As a project is crashed and project duration is reduced, indirect costs typically

The shortest possible time an activity can be completed realistically is called ____ time.