MSU CMP 101 Final Exam (100% Correct Answers)

Right to Work Principle: correct answers affirms the right of every american to work for a living without being compelled to belong to a union Planning correct answers Process of organizing the activities that must take place to get a project from start to finish. Scheduling correct answers Introduces real time into the plan. Why is scheduling important? correct answers The faster you finish a construction project, the more you save on fixed costs and variable costs, and the more money you make. Fixed Costs correct answers Salaries/overheads Example of Overheads: correct answers Dumpsters, toilets, cranes, temporary utilities, truck lease payments, equipment, cell phones, ect. Variable Costs correct answers Construction loan interest/construction insurance What is a Grantt Chart? correct answers A visual tool used to show scheduled and actual progress of projects. How is a Grantt Chart used? correct answers Used as a means to logically and pictorially show the sequence of events which must take place in order to take a project from start to finish. Another name for a Grantt Chart correct answers Bar Chart What is a con to using a Grantt Chart? correct answers They are very time consuming to update Describe the Grantt Chart correct answers A graphical representation of the duration of tasks against the progression of time, a useful tool for planning and scheduling projects, helpful when monitoring a project's progress Grantt Chart: What does the x-axis represent? correct answers Time Grantt Chart: What does the y-axis represent? correct answers Tasks Activity Network correct answers A graphical representation describing connections between all activities in a project. Activity Path correct answers A continuous string of activities within the network from beginning to end. Critical Path correct answers The activity path with the longest duration, in which any delay of one activity causes a similar delay to the entire project completion