CPA, Crashing and Pert

Question 1

What is the Critical Path?

Answer 1

The longest sequence of dependent activities that dictates the minimun time a project can be completed.
It is the path with 0 slack.

Question 2

What is slack/float?

Answer 2

The amount of time an activity can be delayed without delaying a succeeding activity or the project end date.
Formula: LS-ES

Question 3

What is a lag?

Answer 3

Adds time delay between tasks

Question 4

What is a lead?

Answer 4

Lessens time between tasks.

Question 5

How do you calculate earliest finish?

Answer 5

ES+t

Question 6

How do you calculate latest start?

Answer 6

LF-t

Question 7

How do you calculate Crash cost per unit?

Answer 7

Crash Cost-Normal Cost/Normal Time-Crash Time

Question 8

How do we calculate E in Pert?

Answer 8

(O+4M+P)/6

Question 9

How do we calculate V in Pert?

Answer 9

(P-O/6)^2

Question 10

How do we calculate Z in Pert?

Answer 10

(D-∑E)/√∑V

Question 11

What are some drawbacks of crashing?

Answer 11

Increased Costs: Crashing typically involves additional expenses. Hiring more resources, overtime pay, expedited deliveries, or acquiring additional equipment can significantly increase project costs.

Crashing can compromise the quality of project deliverables. Rushed work or increased pressure to meet tighter deadlines might result in inadequate quality control, reduced attention to detail, and a higher likelihood of errors or defects in the final product.