Chapter 7 - Advanced networking and scheduling

Question 1

Name the three dimensions of a project

Answer 1

Requirements, Schedule, Budget

Question 2

How is project duration shortened?

Answer 2

• Reduce amount of work
• Use appropriate technology
• Get support from executives and stakeholders
• Use more sophisticated resources
• Use more resources

Question 3

What is the time-cost trade-off?

Answer 3

Reducing the project duration will cost more

Question 4

How is the cost slope calculated?

Answer 4

(Cc - Cn)/(Tc - Tn)

Question 5

In a project network, where do we reduce work or add resources?

Answer 5

Always on the critical path. Cutting work or adding resources on other paths will not have an effect on project duration

Question 6

In time-cost trade-off, how much can an activity be reduced?

Answer 6

To its crash time, OR until a non-critical path becomes critical

Question 7

Summarise the principles that help to determine the least expensive way to shorten project duration in time-cost trade-off

Answer 7

• Focus on critical path
• Choose least costly (lowest cost slope) way of shortening project first
• If project has not been shortened sufficiently, choose second cheapest activity, etc
• Keep an eye on non-critical paths: if these paths become critical, reduce activity duration on this path as well during next round

Question 8

Describe two methods of finding the shortest project duration at in the least costly manner

Answer 8

1. Crash activities step by step, starting at the lowest cost slope
2. Initially crash all activities, relax non-critical activities with highest cost slope