Question 31) In PERT, the variance in completion time is equal to the v

31) In PERT, the variance in completion time is equal to the variance of the most time consuming activity on the critical path.

32) Given the assumptions in PERT, the probability that a project will be completed in less time than required by the activities on the critical path is approximately 50%.

33) Gantt charts and PERT diagrams provide the same information, just in different formats.

34) Gantt charts contain information about the time taken by each activity, but not about the sequential dependencies of the activities.

35) Budgets are computed using only ES times.

36) The value of work completed is computed by multiplying budgeted cost by the percent completion.

37) Shortening a project is called crashing.

38) The activity crash cost is equal to the incremental cost of shortening the project.

39) The critical path of a network is the

A) shortest time path through the network.

B) path with the fewest activities.

C) path with the most activities.

D) longest time path through the network.

E) None of the above

40) In a PERT network, the earliest (activity) start time is the

A) earliest time that an activity can be finished without delaying the entire project.

B) latest time that an activity can be started without delaying the entire project.

C) earliest time that an activity can start without violation of precedence requirements.

D) latest time that an activity can be finished without delaying the entire project.

E) None of the above

41) Slack time in a network is the

A) amount of time that an activity would take assuming very unfavorable conditions.

B) shortest amount of time that could be required to complete the activity.

C) amount of time that you would expect it would take to complete the activity.

D) difference between the expected completion time of the project using pessimistic times and the expected completion time of the project using optimistic times.

E) amount of time that an activity can be delayed without delaying the entire project.

42) The first step in planning and scheduling a project is to develop the

A) employee scheduling plan.

B) PERT/CPM network diagram.

C) critical path.

D) work breakdown structure.

E) variance calculations for each activity.

43) Which of the following is not a concept associated with CPM?

A) normal time

B) probability

C) normal cost

D) crash cost

E) deterministic network

44) PERT

A) assumes that we do not know ahead of time what activities must be completed.

B) assumes that activity time estimates follow the normal probability distribution.

C) is a network technique that uses three time estimates for each activity in a project.

D) is a deterministic network technique that allows for project crashing.

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