MAN 4583 EXAM 2 MIDTERM EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

MAN 4583 EXAM 2 MIDTERM EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Arrows can flow from left to right or from right to left. - Answers When drawing a network diagram, which of the following is NOT true about arrows? Arrows can flow from left to right or from right to left. Arrows can cross. Arrows represent precedence. Arrows may represent an activity or a relationship among activities. Conditional statements are allowed but looping statements are not allowed - Answers Which of the following is NOT one of the basic rules to follow when developing project networks? Networks flow from left to right Conditional statements are allowed but looping statements are not allowed An activity cannot begin until all preceding activities have been completed Each activity must have a unique identification number Earliest time an activity can finish. - Answers The backward pass in project network calculations helps determine all of the following EXCEPT The critical path. Latest time an activity can finish. Earliest time an activity can finish. Latest time an activity can begin. Schedule - Answers The Gantt chart is used to illustrate the project _________. Budget Schedule Triple Constraint Work Breakdown Structure Rough estimates - Answers During project selection and chartering, what types of budgeting is applied? Rough estimates None Exact numbers Time-phased budget estimates Approximation - Answers The three most commonly used methods of cost estimation include all of the following except ______. Analogous Parametric Three-point estimate Approximation Variable - Answers Costs are most commonly divided into fixed and _________. Constant Fluctuating Variable Large Time phased budget - Answers All of the project costs can be assembled into a ________. WBS Calendar Gantt chart Time phased budget Budget - Answers You are creating the project's Cost Baseline. Ultimately, what document will be the outcome of this process? Cost Control Accounts Budget Change Request Performance Report Management reserves are used to handle unknown unknowns, while contingency reserves are - Answers Which of the following is a difference between management reserves and contingency reserves? Management reserves are used to handle known unknowns, while contingency reserves are used to handle unknown unknowns. Management reserves are used to handle unknown unknowns, while contingency reserves are used to handle known unknowns. Management reserves are used to handle low-priority risks, while contingency reserves are used to handle high-priority risks. Management reserves are used to handle high-priority risks, while contingency reserves are used to handle low-priority risks. Responsibility Matrix RICA - Answers R - responsible for doing I - needs to be informed C - Consult before a decision A - Accountable for decisions and delegations Building a project schedule: - Answers 1. Put tasks in sequential order 2. Estimate time each will take 3. Assign tasks to project team members 4. Calculate task duration 5. Account for deadlines and other constraints How to shorten schedule? - Answers Fast track tasks on critical path (does increase risk tho) Crashing - spend additional $$$ to shorten schedule, crash tasks on critical path for least amount of $ Critical Path - Answers - don't have slack - the early and late days are the same - A task has a start and finish - Critical path is the place to finish your project on time RICA Responsibility Matrix - Answers R - responsible for doing I - needs to be informed C - Consult before a decision A - Accountable for decisions and delegations Staffing Plan - Answers Identify sources for resources When are they needed? Training requirements Resource processes Making a realistic schedule: - Answers 1. Build in a buffer 2. Account for how fast assigned workers are 3. Limit tasks to three 4. Note adjustments and reason