PROJECT MANAGEMENT

Question 1

Is defined as a series of related jobs usually directed
toward some major output and requiring a significant period of time to perform.

Answer 1

A project.

Question 2

Is a scientific way of planning, implementing,
monitoring and controlling the various aspects of a project such as
time, money, materials, manpower and other resources.

Answer 2

Project management.

Question 3

The first step of project management is…

Answer 3

Project identification and
appraisal which is also often called project feasibility analysis.

Question 4

Project identification and
appraisal which is also often called project feasibility analysis is composed by:

Answer 4

1. Generation of Project ideas.
2. Screening of the generated ideas.
3. Detailed evaluation of the screened project ideas.

Question 5

Is a further subdivision of a project. It is usually not longer than several
months in duration and is performed by one group or organization.

Answer 5

Task.

Question 6

May be used if needed to further subdivide the project into more
meaningful pieces.

Answer 6

SubTask.

Question 7

Is a group of activities combined to be assignable to a single organizational
unit.

Answer 7

Work package.

Question 8

A specific event in a project.

Answer 8

Project milestones.

Question 9

The hierarchy of project tasks, subtasks, and work packages.

Answer 9

The work breakdown structure.

Question 10

Are defined within the context of the work breakdown structure and are pieces of work within a project that consume time.

Answer 10

Activities.

Question 11

The Critical Path Method (CPM) was developed for…

Answer 11

Maintenance shutdowns at chemical processing plants owned by DuPont. C

Question 12

The Critical Path Method (CPM) is based on:

Answer 12

The assumptions that project activity times can be estimated accurately and that they do not vary.

Question 13

Is the sequence of activities
that form the longest chain in terms of their time to complete. If any one of the activities in the critical path is delayed, then the entire project is delayed.

Answer 13

The critical path of activities in a project.

Question 14

Optimistic time is:

Answer 14

The minimum reasonable period of time in which the
activity can be completed.

Question 15

Most likely time is:

Answer 15

The best guess of the time required.

Question 16

Pessimistic time is:

Answer 16

The maximum reasonable period of time the activity
would take to be completed.

Question 17

Time Cost models are:

Answer 17

An extension of the critical path models that considers the trade off between the time required to complete an activity and the costs.

Question 18

Crashing refers to:

Answer 18

The compression or shortening of the time to complete the project.

Question 19

Costs associated with the expediting activities are
termed:

Answer 19

Activity direct costs.

Question 20

The costs associated with sustaining the project are
termed:

Answer 20

Project indirect costs.