Project Management Quiz

Total project costs include all of the following except: A. All of these are included in total project costs B. Administration C. Supervision D. Project manager's salary E. Interest A. All of these are included in total project costs An activity's crash costs include ____ costs. A. A, B, and C are correct B. Indirect C. Direct D. Overhead E. Both A and B are correct C. Direct Which of the following correctly calculates an activity's cost slope? A. (crash cost-normal cost)/(crash time-normal time) B. (crash cost-normal cost)/(normal time-crash time) C. (normal cost-crash cost)/(normal time-crash time) D. (normal time-crash time)/(crash cost-normal cost) E. (normal time-crash time)/(normal cost-crash cost) B. (crash cost-normal cost)/(normal time-crash time) The optimum duration for a project is at the point where: A. The project changes from time-constrained to resource-constrained B. Indirect costs are the lowest C. Direct costs are the lowest D. Direct costs equal indirect costs E. Total project costs are the lowest E. Total project costs are the lowest Adverse weather, design flaws, and equipment breakdown can create negative slack. This is an example of reducing project duration caused by: A) Imposed project deadlines B) Time to market C) Unforeseen project delays D) High overhead E) Incentive contracts C) Unforeseen project delays Which of the following is not considered a project indirect cost? A) Supervision B) Consultants C) Equipment D) Interest E) All of these are considered project indirect costs C) Equipment Low-cost, realistic, efficient methods for completing an activity under normal conditions are supported by ____ time. A) Normal B) Budget C) Optimized D) Expected E) Target A) Normal The shortest possible time an activity can be completed realistically is called ___ time. A) Expedited B) Accelerated C) Crash D) Optimistic E) Optimal C) Crash ____ costs are incurred when completing an activity in its realistically shortest time. A) Normal B) Reserve C) Crash D) Accelerated E) Expedited C) Crash Cost slope can be determined by dividing the A) Run by the rise B) Rise by the run C) Crash cost by the normal cost D) Normal cost by the crash cost E) Both B and C are correct B) Rise by the run Which of the following correctly calculates an activity's cost slope? A) (normal cost-crash cost)/(normal time-crash time) B) (crash cost-normal cost)/(normal time-crash time) C) (normal time-crash time)/(crash cost-normal cost) D) (normal time-crash time)/(normal cost-crash cost) E) (crash cost-normal cost)/(crash time-normal time) B) (crash cost-normal cost)/(normal time-crash time) The optimum duration for a project is at the point where: A) Direct costs are the lowest B) Indirect costs are the lowest C) Direct costs equal indirect costs D) Total project costs are the lowest E) The project changes from time-constrained to resource-constrained D) Total project costs are the lowest Creating a Project Cost-Duration graph is useful: A) During the pre-project planning phase B) After the project has begun C) After the completion of the project D) Both A and B are correct E) A, B, and C are all correct D) Both A and B are correct In selecting the best activity to reduce you would first select the activity with the A. Largest crash time B. Longest duration C. Earliest start time D. Least steep slope E. Steepest slope D. Least steep slope If a network has several critical or near-critical paths it is deemed to be: A) Well planned B) The lowest cost alternative C) Resource-constrained D) Sensitive E) Insensitive D) Sensitive A positive situation where moving toward the optimum time can result in very real, large savings—this occurs when the network is: A) Insensitive B) Sensitive C) Ahead of schedule D) Shifting to the critical chain E) Implementing a fast-tracking system A) Insensitive Intense global competition and rapid technological advances create pressure on developing projects rapidly. This is an example of reducing project duration caused by: A. imposed project deadlines B. Time to market C. Unforeseen project delays D. HIgh overhead E. incentive contracts B. time to market Project costs are generally classified as ____ costs. A. Direct B. Indirect C. Overhead D. Both A and B are correct E. A, B, and C are all correct D. Both A and B are correct The less steep the cost slope of an activity, the A. Less it costs to shorten one time period B. More it costs to shorten one time period C. smaller the crash time D. Larger the crash time A. Less it costs to shorten one time period A common method for shortening the project time is to: A. Adding resources B. schedule overtime C. subcontract an activity D. Both A and B are correct E. A, B, and C are all correct E. A, B, and C are al