Chapter 14

Question 1

A temporary endeavor undertaken to create a unique product, service, or result. Clear starting and ending point. (A unique undertaking by the company)

Answer 1

Project

Question 2

The application of knowledge, skills, tools and techniques to project activities to meet project requirements.

Answer 2

Project management

Question 3

5 project phases

Answer 3

Concept 
Project definition 
Planning 
Performance 
Postcompletion

Question 4

Here, project planners develop a broad definition of what the project is and what it’s scope will be (idea for what the project should be)

Answer 4

Concept phase

Question 5

Setting boundaries for what is involved in your project is called the

Answer 5

Scope

Question 6

Here, project planners identify how to accomplish the work, how to organize for the project, the key personnel and resources required to support the project, tentative schedules, and tentative budget requirements

Answer 6

Project definition phase

Question 7

Here, project planners prepare detailed plans that identify activities, time and budget targets, and the resources needed to complete each task. Also includes putting in place the organization that will carry out the project.

Answer 7

Planning phase

Question 8

A performance or time target for each major group of activities in a project

Answer 8

Milestone

Question 9

In this phase, the organization actually starts to execute the project plan

Answer 9

Performance phase

Question 10

This is the phase in which the project manager or team confirms the final outcome, conducts a post implementation meeting to critique the project and personnel, and reassigns project personnel

Answer 10

Postcompletion phase (what went well and what went wrong)

Question 11

Horizontal bar chart. Graphical tool used to show expected start and end times for project activities and to track actual process against these time targets

Answer 11

Gantt chart

Question 12

A graphical tool that shows the logical linkages between activities in a product

Answer 12

Network diagram

Question 13

A network based technique in which there is a single time estimate for each activity

Answer 13

Critical path method (CPM)

Question 14

A network-based technique in which there are multiple time estimates for each activity

Answer 14

Program evaluation and review technique (PERT)

Question 15

A project activity for which the earliest start time and latest start time are equal (zero slack). This cannot be delayed without lengthening the overall project duration.

Answer 15

Critical activity

Question 16

The determination of the earliest start and finish times for each project activity

Answer 16

Forward pass

Question 17

The earliest an activity can start, as determined by the earliest finish time for all immediate predecessors

Answer 17

Earliest start

Question 18

The earliest an activity can finish, calculated by adding the activity’s duration to its earliest start time

Answer 18

Earliest finish

Question 19

The determination of the latest finish and start times for each project activity

Answer 19

Backward pass

Question 20

The latest an activity can finish and still finish the project on time, as determined by the latest start time for all immediate successors (what came after it)

Answer 20

Latest finish

Question 21

The latest an activity can start and still finish the project on time, calculated by subtracting the activity’s duration from its latest finish time

Answer 21

Latest start

Question 22

The difference between an activity’s late start and early start time it between the late finish and early finish times. The amount of leeway you have for starting an activity.

Answer 22

Slack

Question 23

The critical path does not have what

Answer 23

Slack

Question 24

Shortening the overall duration of a project by reducing the time it takes to perform certain activities

Answer 24

Crashing

Question 25

Crash cost per period formula

Answer 25

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