Project Management

Question 1

How is the projected completion time determined using Program Evaluation and Review Technique (PERT)?

Answer 1

Expected time of completion is determined by assigning a weighting of one for each of the optimistic and pessimistic estimates, a weighting of four for the most probable estimate, adding the assigned values together, and then dividing that sum by six.

Question 2

Define the “critical path”.

Answer 2

The critical path is the longest path in the network and indicates that if any activity on the critical path is delayed, then the project will not be accompanied according to the original schedule. The critical path is specified by the sums of the mean completion times of each of the activities.

Question 3

Define “project management”.

Answer 3

A series of related activities to achieve a defined output in a specified and finite amount of time using a temporary structure.

Question 4

Define “project risks”.

Answer 4

Project risks are related to adequately defining the project, properly organizing resources, and organizing and committing team members.

Question 5

How does the work breakdown structure assist with project management?

Answer 5

This defines the work to be completed by dividing project components into subcomponents, and successive levels of specificity to define all activities of the project team, the resources involved, and their costs.

Question 6

Define “crashing”.

Answer 6

Crashing is the process of adding resources (such as overtime labor or adding additional materials or equipment) to shorten selected activity times on the critical path. Crash time is the shortest possible time to complete an activity after accelerating resources.

Question 7

How do the Program Evaluation and Review Technique (PERT) and the Critical Path Method (CPM) use relationships to assist with project management?

Answer 7

Each uses a precedence relationship that specifies a sequence for activities in the network.