BA 320 EXAM 2 || A+ GRADED.
What are the different types of networks? correct answers Project Network with arrows and
nodes, PDM (Precedence Diagramming Method)
Slack / Float (SL) correct answers how long can an activity be delayed
SL correct answers LS - ES or LF - EF
Critical Path: correct answers The longest path through the activity network that allows for
the completion of all project-related activities.
Represents the shortest expected time in which the entire project can be completed.
Non-Critical Path correct answers Series of activities that can be slipped to a certain degree
without threatening the completion date of the overall project
Sensitivity correct answers How likely a CP is likely to change (Gnatt chart can be used for this)
When do you move to Critical to Non-Critical? correct answers When you need to use slack?
Free slack (FS) correct answers is the amount of time an activity can be delayed without delaying
any immediately following (successor) activity
Total slack tells us correct answers the amount of time an activity can be delayed and not delay
the project
Total slack is correct answers the amount of time an activity can exceed its early finish date
without affecting the project end date or an imposed completion date
What are the different ways to report a status? correct answers Gnatt chart, milestone chart,
control chart
Why is time burn rate insufficient to do analysis? correct answers Because you also need to look
at the budget burn rate to determine how much is being spent.
What is Earned Value Management (EVM)? correct answers is a project management technique
for measuring project performance and progress in an objective manner ---- it is the percent
complete of baseline budget earned by actual work performed.
Earned Value correct answers Authorized budget for work actually
EV = correct answers PV to date x RP
Cost Variance (CV) = correct answers EV - AC (Earned Value - Actual Cost)
, Schedule Variance (SV) = correct answers EV - PV
CPI Cost Performance Index correct answers EV/AC
SPI Schedule Performance Index correct answers EV/PV
Burn Rate = correct answers 1/CPI
Simple Budget Estimate at Completion = correct answers Original Budget Estimate/ CPI
Planned Value (PV) = correct answers Planned % complete * Budget at Completion
Earned Value (EV) = correct answers % Complete * Budget at Completion
Resource smoothing: correct answers CNHF
Consists of moving non-critical to non-critical PRIOR to baselining
Never impacts the end date
Has a minimal impact on financials
Focuses on scarce resources
Finish-to-Finish correct answers Predecessor must finish before Successor can finish.
-Laying Asphalt must be complete before line painting can be completed
Finish-to-Start correct answers Predecessor must finish before Successor can start.
-Land must be purchased before road building can start
What are the 8 options to react to a change request? correct answers AUCASOCJ
Add Lead Time to overlap activities
Use available Lag Time
Change (Reduce) Durations
Adjust Resources
Schedule overtime
Outsource project work if previously authorized
Change the Scope
What are the different types of networks? correct answers Project Network with arrows and
nodes, PDM (Precedence Diagramming Method)
Slack / Float (SL) correct answers how long can an activity be delayed
SL correct answers LS - ES or LF - EF
Critical Path: correct answers The longest path through the activity network that allows for
the completion of all project-related activities.
Represents the shortest expected time in which the entire project can be completed.
Non-Critical Path correct answers Series of activities that can be slipped to a certain degree
without threatening the completion date of the overall project
Sensitivity correct answers How likely a CP is likely to change (Gnatt chart can be used for this)
When do you move to Critical to Non-Critical? correct answers When you need to use slack?
Free slack (FS) correct answers is the amount of time an activity can be delayed without delaying
any immediately following (successor) activity
Total slack tells us correct answers the amount of time an activity can be delayed and not delay
the project
Total slack is correct answers the amount of time an activity can exceed its early finish date
without affecting the project end date or an imposed completion date
What are the different ways to report a status? correct answers Gnatt chart, milestone chart,
control chart
Why is time burn rate insufficient to do analysis? correct answers Because you also need to look
at the budget burn rate to determine how much is being spent.
What is Earned Value Management (EVM)? correct answers is a project management technique
for measuring project performance and progress in an objective manner ---- it is the percent
complete of baseline budget earned by actual work performed.
Earned Value correct answers Authorized budget for work actually
EV = correct answers PV to date x RP
Cost Variance (CV) = correct answers EV - AC (Earned Value - Actual Cost)
, Schedule Variance (SV) = correct answers EV - PV
CPI Cost Performance Index correct answers EV/AC
SPI Schedule Performance Index correct answers EV/PV
Burn Rate = correct answers 1/CPI
Simple Budget Estimate at Completion = correct answers Original Budget Estimate/ CPI
Planned Value (PV) = correct answers Planned % complete * Budget at Completion
Earned Value (EV) = correct answers % Complete * Budget at Completion
Resource smoothing: correct answers CNHF
Consists of moving non-critical to non-critical PRIOR to baselining
Never impacts the end date
Has a minimal impact on financials
Focuses on scarce resources
Finish-to-Finish correct answers Predecessor must finish before Successor can finish.
-Laying Asphalt must be complete before line painting can be completed
Finish-to-Start correct answers Predecessor must finish before Successor can start.
-Land must be purchased before road building can start
What are the 8 options to react to a change request? correct answers AUCASOCJ
Add Lead Time to overlap activities
Use available Lag Time
Change (Reduce) Durations
Adjust Resources
Schedule overtime
Outsource project work if previously authorized
Change the Scope
