OMGT 5783 FINAL EXAM QUESTIONS AND ANSWERS

OMGT 5783 FINAL EXAM QUESTIONS
AND ANSWERS

Options for Reducing Duration with Constrained Resources - Correct Answers -- Fast
Tracking
- Critical Chain Management
- Reducing scope
- Compromise quality

Indirect Costs - Correct Answers -Cannot be associated with any particular activity (e.g.
administration, consultants, and interest) and change with time. Reducing project
duration reduces indirect costs.

Direct Costs - Correct Answers -Assigned directly to a particular activity (e.g. labor,
materials, equipment). Crashing activities increases direct costs.

Crashing - Correct Answers -Shortening an activity

Cost Slope (Formula) - Correct Answers -Cost Slope = (CrashCost -
NormalCost)/(NormalTime - CrashTime)

Options for Reducing Duration with No Constrained Resources - Correct Answers --
Add resources
- Outsource
- Overtime
- Establish core project team
- Do it twice - quickly then correctly

Advantages of outsourcing project work - Correct Answers --Cost reduction
-Faster project completion
-High level of expertise
-Flexibility

Disadvantages of outsourcing project work - Correct Answers --Coordination
breakdowns
-Loss of control
-Interpersonal conflict
-Security issues
-Political hot potato