PMBOK

Question 1

Schedule Compression

Answer 1

Crashing - adding more people to a task. increased cost

Fast Tracking - do things at same time when normally done in sequence.

Question 2

Resource Leveling

Answer 2

Technique that start and finish dates are adjusted based on resource constraints with the goal of balancing the demand of resources with available supply. (it is resource optimization NOT schedule compression)

Can cause change to critical path.

Question 3

Resource Smoothing

Answer 3

adjusting the activities of a schedule model so that the requirements for resources on the project do not exceed certain pre-defined limits.

Critical path is not changed and completion date not changed. MUST STAY WITHIN FLOAT

Question 4

Monte Carlo analysis

Answer 4

Quantitative Risk Analysis model.

Risks and other sources of uncertainty are used to calculate possible schedule outcomes for the total project.

uses schedule network diagram and duration estimates

Question 5

Qualitative vs. Quantitative Risk Analysis

Answer 5

Qualitative - prioritizing risks by assessing probability and impact. (always done)

Quantitative - numerically analyzing combined effect of individual risks/uncertainty on project objectives (not always done)