Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
63 Cards in this Set
- Front
- Back
Once a project actually starts, is it necessary to monitor the progress to ensure that everything is going according to schedule?
|
Yes
|
|
Is the key to effective project control to measure production quality and compare it to efficiency measures on a timely and regular basis and to take necessary corrective action immediately?
|
Yes
|
|
Should the project control process occur once at the beginning and then again at the end of the project?
|
No
|
|
does the project control process continue throughout the project?
|
Yes
|
|
In general, if the reporting period is longer, are there better chances of identifying problems early and taking effective actions?
|
No
|
|
Do the finish estimates (FE) of completed activities determine the earliest start and earliest finish times for the remaining activities in the network diagram, as well as the total slack?
|
No
|
|
Is a method to indicate the network diagram which activities have been completed is to shade or crosshatch the activity box?
|
Yes
|
|
Throughout a project, should changes always be resisted if they have an impact on the schedule?
|
Yes
|
|
When the customer requests a change, should the contractor or project team estimate the impact on the project budget and schedule and then obtain customer approval before proceeding?
|
Yes
|
|
When attempting to get a schedule back on track, is the path with the most positive slack given the top priority?
|
No
|
|
In most cases, will eliminating negative slack by reducing durations of activities involve a trade-off in the form of an increase in production hours or an increase in scope?
|
No
|
|
Is the time-quality trade-off methodology used to incrementally reduce the project duration with the smallest associated increase in incremental cost?
|
No
|
|
Does each activity have two pairs of duration and cost estimates: normal and flash?
|
No
|
|
Can an activity be completed in less than its crash time, no matter how many additional resources are applied?
|
No
|
|
The ______ of completed activities will determine the earliest start and earliest finish times for the remaining activities in the network diagram, as well as the total slack.
|
actual finish times
|
|
When changes are agreed upon, a new ______________ should be established and used as the benchmark against which actual project performance will be compared.
|
baseline plan
|
|
The amount of ____________ should determine the priority with which concentrated efforts are applied.
|
slack
|
|
It’s much wiser to take aggressive corrective action to reduce the durations of activities that will be done in the ____________ than to plan to reduce the durations of activities that are scheduled sometime in the ___________.
|
near term, future
|
|
When modifying a project schedule, usually ____________ activities present the opportunity for larger reductions.
|
longer-duration
|
|
The _______ time is the shortest estimated length of time in which the activity can be completed.
|
crash
|
|
Do resources include people, equipment, machines, tools, facilities, and space.
|
Yes
|
|
Can resources constrain the project schedule?
|
Yes
|
|
Are activities in a network diagram drawn in a parallel relationship because, from a technical standpoint, they can be performed in any sequence?
|
No
|
|
In addition to showing the technical constraints among activities, can the network diagram also exhibit resource constraints?
|
Yes
|
|
If resources are to be considered in planning, is it necessary to indicate the amounts and types of resources needed to perform each activity?
|
Yes
|
|
Is resource monitoring a method for developing a schedule that attempts to minimize the fluctuations in requirements for resources?
|
No
|
|
Will resource-limited scheduling extend the project completion time if necessary in order to keep within the resource limits?
|
Yes
|
|
Do most software packages allow you to create and maintain a list of resources that can be accessed by all of the tasks within a project?
|
Yes
|
|
Because the expenses for resources can be accrued at different times throughout a project, do most software systems allow you to create charges for a resource at the beginning of its use, at fixed intervals, or at the end of the project?
|
Yes
|
|
The consideration of resources adds another dimension to planning and ____________.
|
scheduling
|
|
Activities in a network diagram are drawn in a _________ relationship because, from a technical standpoint, they must be performed in that sequence.
|
serial
|
|
If resources are to be considered in planning, it’s necessary to indicate the _________ of resources needed to perform each activity.
|
amount
|
|
Resource utilization charts based on each activity’s earliest start time are said to be based on an _____________________ schedule.
|
as-soon-as-possible
|
|
Resource utilization charts based on each activity’s latest start time are said to be based on an __________________ schedule.
|
as-late-as-possible
|
|
____________________ is a method for developing a schedule that attempts to minimize the fluctuations in requirements for resources.
|
resource leveling
|
|
____________________ is a method for developing the shortest schedule when the number or amount of available resources is fixed.
|
resource limited scheduling
|
|
______________________ will extend the project completion time if necessary in order to keep within the resource limits.
|
resource limited scheduling
|
|
In resource-limited scheduling, when several activities need the same limited resource at the same time, the activities with the _______________ have first priority
|
least slack
|
|
In addition to establishing a baseline schedule for a project, is it also necessary to develop a baseline budget?
|
Yes
|
|
Does cost planning start when a proposal for the project has been accepted by the client?
|
No
|
|
If possible, is it good practice to have the person who will be responsible for the costs associated with the work make the cost estimates?
|
Yes
|
|
Is the TBC for each work package be the multiplication of the costs of all the activities that make up that work package?
|
No
|
|
With the CBC values, is it possible to draw a cumulative budgeted cost curve?
|
Yes
|
|
Are large dollar amounts that are expended for materials or services that are used over a period of time longer than one cost reporting period called coventional costs?
|
No
|
|
Does determining the earned value involve collecting data on the percent complete for only the last work package.
|
No
|
|
Does there often seem to be an inclination to be overly pessimistic and make a low percent complete estimate too soon?
|
No
|
|
Is the cost performance index a measure of the cost efficiency with which the project is being performed.
|
Yes
|
|
Is the cost variance (CV) the difference between the cumulative earned value of the work performed and the cumulative budgeted cost?
|
No
|
|
Allocating total project costs for the various elements to the appropriate work packages in the work breakdown structure will establish a ___________________ for each work package.
|
total budgeted cost
|
|
The ________________________ is the amount that is budgeted to accomplish the work that was scheduled to be performed up to a certain point in time.
|
cumulative budgeted cost
|
|
The _______ for the entire project or each work package provides a baseline against which actual cost and work performance can be compared at any time during the project.
|
cumulative budgeted cost
|
|
Once the project starts, it’s necessary to keep track of actual cost and committed cost so that they can be compared to the _______________.
|
cumulative budgeted cost
|
|
Funds that are unavailable to be spent elsewhere because they will be needed at some later time to pay for an item are called ____________ costs.
|
committed
|
|
_____________________ is the value of the work actually performed.
|
Earned value
|
|
Determining the earned value involves collecting data on the percent complete for each work package and then converting this percentage to a dollar amount by multiplying the _________________ of the work package by the percent complete.
|
total budgeted cost
|
|
_________________ is the difference between the cumulative earned value of the work performed and the cumulative actual cost.
|
Cost variance
|
|
The cost performance analysis should include identifying those work packages that have a negative cost variance or a cost performance index of less than _____.
|
1
|
|
The key to managing _________ is to ensure that cash comes in faster than it goes out.
|
cash flow
|
|
CPI=
|
CPI= CEV / CAV
CPI>1 is good |
|
CV=
|
CV= CEV-CAV
|
|
FCAC=
|
FCAC= TBC/CPI
or FCAC= CAC + (TBC - CEV) or FCAC= CAC + re-estimate coasts of remaining work |
|
SV=
|
SV= CEV-CBC
|
|
SPI=
|
SPI=CEV/CBC
SPI>1 is good (under budget) |