Module 6 Definitions

Question 1

Lag Time

Answer 1

Is the time between activities.

Question 2

Lead Time

Answer 2

Is when activities are brought closer together or even overlap.

Question 3

Soft Logic

Answer 3

Describes when activities are scheduled bases on preferences, guidelines, or external conditions. Allows the manager to make decisions based on conditions outside of the project, best practices, or guidelines.

Question 4

Critical Path

Answer 4

Is always the path with the longest duration, but there are instances however, when the project’s expected end date is well beyond the duration of the scheduled work. In such cases, the critical path is considered the path with the least amount of float. But mainly the critical path has no float, has the longest duration, and does not necessarily have the most expensive activities.

Question 5

ADM (Arrow Diagramming Method)

Answer 5

Is also known as “activity on arrow”. This places activities on arrows.

Question 6

PDM (Precedence Diagramming Method)

Answer 6

Also know as “activity on nodes”. This places activities on nodes.

Question 7

Analogous Estimates

Answer 7

Comparing estimates with another project. Remember this estimate approach by identifying the “analogy” between the two similar project.

Question 8

Parametric Estimates

Answer 8

These use a parameter, such as 5 hours per unit.

Question 9

PERT Estimating

Answer 9

Uses an average of the optimistic, most likely, and pessimistic time estimates for each activity.

Question 10

Commercial Duration Estimating

Answer 10

Use databases the are used to confirm or base time estimates upon.

Question 11

Parkinson’s Law

Answer 11

States that work will expand to fulfill the time allotted to it. Bloated tasks will take all of the time allotted. Management reserve should be used instead.

Question 12

Law of Diminishing Returns

Answer 12

Describes the relationship between effort, duration, and the maximum yield.

Question 13

Oligopoly

Answer 13

Is a procurement issue where there are few vendors available to choose from. Plus, the vendors may seemingly have check and balances with each other.

Question 14

Contingency Reserve

Answer 14

Is a portion of the project schedule allotted for time overruns on activities.

Question 15

Cost Benefit Analysis

Answer 15

May be the part of the process to decide the value of adding more workers to the schedule.

Question 16

Gantt Chart

Answer 16

Is a bar chart that represents the duration of activities against a calendar. The length of the bar represents the length of activities, while the order of the bars represents the order of activities in the project.

Question 17

Slack Time

Answer 17

Is the amount of time a task can be delayed without delaying the scheduled start date of dependent activities.

Question 18

Flattening Projects

Answer 18

If you flatten your project through resource leveling, the project duration will likely increase.