Amity MBA 3 Sem Solve Assignment For Project Management
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Case Study
a) A project details are given below.
i) Draw the network diagram ii) Find the paths and identify the critical path iii) Find the duration of the project iv) Calculate the cost slope for each of the activities v) What is the total project cost using the normal times? vi) If the duration of the project is to be reduced to 12 days what will be the project cost? b) Various activities involved in a project is given below
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QUESTIONS
1 )Draw the appropriate PERT network
2 ) Identify the critical path and project duration
ii) Calculate the earliest start time, earliest finish time, latest start time, latest finish time, and slack of each of the activities
3 )What is the probability of completing the project in 120 days
Question No: 1
The act of doing anything that will help to bring future project performance into line with the project plan is called
Budget update
Revised cost estimate
Corrective action
Contingency planning
Question No: 2
Project A has an internal rate of return (IRR) of 21 percent. Project B has an IRR of 7 percent. Project C has an IRR of 31 percent. Project D has an IRR of ig percent. Which of these would be the BEST project?
Project A
Project B
Project C
Project D
Question No: 3
When checking the calendar of a team member to schedule a meeting, you see she has scheduled a meeting with a key stakeholder that you were not informed of. The best approach would be to
Avoid mentioning it to the team member but continue to watch her activities
Notify your boss about the problem
Address the concern with the team member's boss
Address the concern with the team member
Question No: 4
The program evaluation and review technique (PERT) method of scheduling differs from the critical path method (CPM) because the PERT method:
Uses weighted averages of activity durations to calculate project duration
Uses ..dummy.. activities to represent logic ties
Uses ..free float.. instead of ..total float.. in the schedule calculations
Uses bar charts instead of logic diagrams to portray the schedule
Question No: 5
A project manager would like to manage his project in such a way that he will be able to identify specific tasks that should be watched and managed more closely than others. The project manager should use which method?
The PERT method
The critical path method
The GERT method
The PCDM method
Question No: 6
A project manager is using a cause and effect diagram with the team to determine how various factors might be linked to potential problems. In what part of the quality management process is the project manager involved?
Quality analysis
Perform quality assurance
Perform quality control
Quality planning
Question No: 7
. In, ____________we see whether return or benefits on this investment are more than its cost from point of view of society in which we are living
Social cost benefit analysis
Cost benefit analysis
Profit analysis
Risk analysis
Question No: 8
Resource leveling will generally
Reduce the time needed to do the project
Increase the total time necessary to do all the tasks
Reduce the overutilization of resources
Reduce resources to the lowest skill that is possible
Question No: 9
If all planned work has been completed or earned, What is the schedule variance?
0.01
0
0.1
0.5
Question No: 10
A project whose acceptance does not prevent or require the acceptance of one or more alternative projects is referred to as __________
a mutually exclusive project
an independent project
a dependent project
a contingent project
Question No: 11
When operating under a single-period capital-rationing constraint, you may first want to try selecting projects by descending order of their __________ in order to give yourself the best chance to select the mix of projects that adds most to firm value.
profitability index (PI
net present value (NPV)
Internal rate of return (IRR)
payback period (PBP)
Question No: 12
Which of the following statements is correct regarding the internal rate of return (IRR) method?
Each project has a unique internal rate of return
As long as you are not dealing with mutually exclusive projects, capital rationing, or unusual projects having multiple sign changes in the cash-flow stream, the internal rate of return method can be used with reasonable confidence
The internal rate of return does not consider the time value of money
The internal rate of return is rarely used by firms today because of the ease at which net present value is calculated
Question No: 13
Which of the following is not a potential for a ranking problem between two mutually exclusive projects?
The projects have unequal lives that differ by several years
The costs of the two projects differ by nearly 30%.
The two projects have cash flow patterns that differ dramatically
One of the mutually exclusive projects involves replacement while the other involves expansion
Question No: 14
The three phases involved in the management of large projects are
Scheduling, operating, evaluating
Planning, scheduling, evaluating
Scheduling, designing, operating
Planning, scheduling, controlling
Question No: 15
With respect to PERT and CPM, slack
Is a task or subproject that must be completed
Marks the start or completion of a task
Is the amount of time a task may be delayed without changing the overall project completion time
Is the latest time an activity can be started without delaying the entire project
Question No: 16
A dummy activity is required when
The network contains two or more activities that have identical starting and ending events
Two or more activities have different ending events
Two or more activities have the same ending events
Two or more activities have the same starting events
Question No: 17
Which of the following is a basic assumption of PERT?
There is only one complete route from the start of a project to the end of a project
No activity in the network must be repeated.
Activity completion times are known with certainty
Only critical path activities in the network must be performed
Question No: 18
PERT analysis computes the variance of the total project completion time as
The sum of the variances of all activities on the critical path
The sum of the variances of all activities in the project
The variance of the final activity of the project
The sum of the variances of all activities not on the critical path
Question No: 19
Which of the following managers develop operational plans for the project?
Top Managers
Middle Manager
Line Managers
Supervisors
Question No: 20
Which of the following is a direct responsibility of the project manager?
Calculating completion probabilities for all tasks in the project
Drawing the network diagram
Making sure that the people assigned to the project receive the motivation, direction, and information needed to do their jobs
Performing all of the activities in the project
Question No: 21
Which of the following is the benefit of the network analysis approach?
Derive error free forecasts
Eliminate need for management judgement
Allows progress to be monitored against pla
Avoid need to use structured approach
Question No: 22
A project can be considered to have failed if it
Overran significantly on estimated delivery date
Does not meet the business requirem
Does not meet the users' requirements
Was significantly over budget
Question No: 23
Which of the following is not a reason to reduce project completion time?
Reduce new product development time to market
Release resources for other projects
Avoid penalties for late completion
Eliminate project critical path
Question No: 24
Which of the following is especially useful for monitoring project progress against plan?
Capacity loading graphs
Gantt charts
Flow diagrams
Network diagrams
Question No: 25
An individual with a diverse set of skills--management, leadership, technical, conflict management, and customer relationship--who is responsible for initiating, planning, executing, and closing down a project best defines:
Chief information officer
Consultant
Project scheduler
Project manager
Question No: 26
Identifying, assessing, and managing the risks and day-to-day changes that occur during a project best defines which of the following project manager activities?
Conflict management
Risk and change management
Team management
Customer relations
Question No: 27
Optimistic time refers to
the maximum period of time for an activity to be completed
the minimum period of time for an activity to be completed
the planner’s “best guess” of the amount of time the activity actually will require for completion
None of the above
Question No: 28
An example of a project management system is
Word Perfect
Microsoft Office
Lotus 1-2-3
Oracle
Question No: 29
Which of the following is not a true statement regarding Network diagrams?
The critical path of a Network diagram is represented by the sequence of connected activities that produce the longest overall time period
All activities with a slack time equal to zero are on the critical path
Nodes not on the critical path can be delayed (for some amount of time) without delaying the final completion of the project
The latest expected completion time refers to the time in which an activity can be completed without delaying the project
Question No: 30
Which of the following slack times indicates that an activity is on the critical path?
1
10
0
2
Question No: 31
A project manager that dictates all decisions and does not allow for any participation by the workers would be using which leadership style.
Passive
Participative/democratic
Autocratic
Laissez-faire
Question No: 32
The shortest time necessary to complete all of the activities in a network is called the:
Activity duration length
Critical path
Maximum slack path
Compression path
Question No: 33
The first step in the development of a schedule is a:
Listing of the activities
Determination of dependencies
Calculation of effort
Calculation of durations
Question No: 34
The calculation of the total cost of a product, from R&D to operational support and disposal, is called:
Birth-to-death costing
Life-cycle costing
Summary costing
Depreciation costing
Question No: 35
Which is the first stage in the project management model?
Project definition
Understanding the project environment
Project control
Project planning
Question No: 36
Successful project management does NOT include which of the following factors?
Competent team members
Interchangable staff
Responsiveness to clients
Control mechanisms
Question No: 37
A critical path network diagram does not:
Calculate earned-value
Help determine the amount of float
Calculate the duration of the whole project
Identify the particularly important activities
Question No: 38
Which of the following statements gives the Technical definition of Project Planning?
Working out of sub-components in some degree of detail
To cover area of government legislation & regulation related to “use of resources”
“Planned use of any /all resources”- Succession of five year plans
Structured sequence of events leading to desired set of objectives
Question No: 39
Which of the following is the responsibility of proposed project manager?
Project Plan & strategy
Description of Project
Organization Development of organizational Chart
All of the given options
Question No: 40
The main purpose of a _______________ is to function as a blueprint for the group’s business operations.
Business Plan
Scope statement
Feasibility Study
Work Breakdown Structure