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Exam 11: Project Management

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Question 31

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What is "crashing"?

A) time until a capital asset completely wears out
B) reducing overall project completion time through the application of additional resources
C) very low capitalized value of a business's cash flows
D) time associated with the minimum of the equivalent annual costs
E) when a project's costs exceed the project's benefits by more than 10 times

F) D) and E)
G) A) and E)

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Question 32

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As a rule, each project includes a feasibility study. With reference to the five-stage project management lifecycle, where does this feasibility study belong?

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It's part of the initiation st...

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Question 33

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At what stage of a project's lifecycle can the project manager conclude that the project's goals have been met?

The AON diagram shown represents a project. If the estimated times for each activity are as shown in the accompanying table, what is the estimated completion time for the project?

Developing a new electronics product involves two activities that can be carried out independently: software development and hardware development. These activities would normally take 18 weeks and 20 weeks respectively, and the product development project is complete when both have been completed. If software development can be sped up at a cost of $1 million per week, and hardware development can be sped up at a cost of $2 million per week, what is the cost of reducing the project completion time to a)19 weeks and b)17 weeks?

Who is responsible for the detailed project plan?

The AON diagram shown represents a project. Normal and crash times, and the associated costs, are shown for each activity in the accompanying table. If it is worth $5 000 a day to reduce the project duration, which activity or activities should be crashed?

Which of the following project management tools is used to organize the work to be done in a project by decomposing the project into successively smaller units?

A 5-year project requires $10 million in initial investment and will bring $0.5 million in net annual revenue under a 10% annual interest rate. If you were a project manager, would you proceed with project or would you terminate the project and at which stage?

A construction company has just started building a new house. It was estimated that the project will take 12 months. However, the owner of the land asked the company to complete it in 10 months. What should the construction company do to accommodate the owner's request?