ISQS 3344 STUDY GUIDE 2026/2027 QUESTIONS AND
SOLUTIONS RATED A+
✔✔A__________is a temporary and often customized initiative that consists of many
smaller tasks and activities that must be coordinated and completed to finish the entire
initiative on time and within budget. - ✔✔Project
✔✔In the context of projects,__________are discrete tasks that consume resources
and time. - ✔✔Activities
✔✔Which of the following is an example of a project that belongs to the functional area
of accounting and finance? - ✔✔Planning a firm's initial public offering
✔✔If an activity can be completed in 10 weeks at a cost of $3,200 instead of the normal
time of 12 weeks at a cost of $2,400, then the crash cost per week for the given activity
is _____. - ✔✔$400
✔✔Which of the following stages of the project life cycle entails the scheduling of
activities? - ✔✔The Planning Stage
✔✔Which of the following is true of crashing a project? - ✔✔It increases the total cost of
the project.
✔✔In the context of the Project Evaluation and Review Technique (PERT), which of the
following is true of the beta probability distribution approach? - ✔✔It allows managers to
identify the best case, worst case, and most likely case for activity times.
✔✔The district magistrate of a city has decided to reconstruct the most frequented
street of the city. He plans to block the street for the duration of the work, which will
cause considerable inconvenience to the people of the city. The project has three
parallel paths defined as the following:
Path A-B-C-H will take 16 days.
Path A-D-E-H will take 22 days.
Path A-F-G-H will take 30 days.
In the given scenario, which of the following statements is true? - ✔✔Path A-F-G-H is
the critical path.
✔✔In the context of project management,__________a project involves releasing and
reassigning people. - ✔✔Closing
✔✔Which of the following is true of a typical functional organization? - ✔✔A project cuts
across organizational boundaries in a typical functional organization.
, ✔✔In the context of the Critical Path Method (CPM), the slack time (ST) for an activity is
computed as: - ✔✔The latest start (LS) time minus the earliest start (ES) time. (LS-ES)
or (LF-EF)
✔✔Implementing a new computer-aided design system is an example of a project in the
functional area of _____. - ✔✔Engineering
✔✔__________refers to reducing the total time to complete the project to meet a
revised due date. - ✔✔Crashing a Project
✔✔Which of the following is true of the Critical Path Method (CPM)? - ✔✔It assumes
that activities are independent of one another, with clearly defined start and finish dates.
✔✔ Alex, a manager at Symbic Inc., plotted the company's total energy costs of 1 billion
dollars over the past 10 years on a chart. The chart suggested that the energy costs
appear to be increasing in a fairly predictable linear fashion and that the energy costs
are related to time by a linear function Y t =3+5t, where Y trepresents the estimate of
the energy cost in year t. Given the equation, which of the following is the value of the
intercept of the straight line that best fits the time series? - ✔✔3
✔✔When no historical data are available, _____ is the sole basis for predicting future
demands. - ✔✔Judgmental forecasting
✔✔_____ are needed to plan workforce levels, allocate budgets among divisions, and
schedule jobs and resources. - ✔✔Intermediate-range forecasts
✔✔A__________is the underlying pattern of growth or decline in a time series. -
✔✔Trend
✔✔An exponential smoothing model must have a smoothing constant (α) _____ to be
roughly equivalent to a moving average model with a seven-month moving average. -
✔✔More than 2.0
✔✔In the context of data patterns in a time series, regular patterns in a data series that
take place over long periods of time are called _____. - ✔✔Cyclical Patterns
✔✔In the context of a fairly stable time series with relatively little random variability,
which of the following statements is true of single exponential smoothing (SES)? -
✔✔Values of the smoothing constant larger than 0.5 place more emphasis on recent
data.
✔✔If the time series in an exponential smoothing model exhibits a negative trend, the
_____. - ✔✔Forecast will overshoot the actual values
SOLUTIONS RATED A+
✔✔A__________is a temporary and often customized initiative that consists of many
smaller tasks and activities that must be coordinated and completed to finish the entire
initiative on time and within budget. - ✔✔Project
✔✔In the context of projects,__________are discrete tasks that consume resources
and time. - ✔✔Activities
✔✔Which of the following is an example of a project that belongs to the functional area
of accounting and finance? - ✔✔Planning a firm's initial public offering
✔✔If an activity can be completed in 10 weeks at a cost of $3,200 instead of the normal
time of 12 weeks at a cost of $2,400, then the crash cost per week for the given activity
is _____. - ✔✔$400
✔✔Which of the following stages of the project life cycle entails the scheduling of
activities? - ✔✔The Planning Stage
✔✔Which of the following is true of crashing a project? - ✔✔It increases the total cost of
the project.
✔✔In the context of the Project Evaluation and Review Technique (PERT), which of the
following is true of the beta probability distribution approach? - ✔✔It allows managers to
identify the best case, worst case, and most likely case for activity times.
✔✔The district magistrate of a city has decided to reconstruct the most frequented
street of the city. He plans to block the street for the duration of the work, which will
cause considerable inconvenience to the people of the city. The project has three
parallel paths defined as the following:
Path A-B-C-H will take 16 days.
Path A-D-E-H will take 22 days.
Path A-F-G-H will take 30 days.
In the given scenario, which of the following statements is true? - ✔✔Path A-F-G-H is
the critical path.
✔✔In the context of project management,__________a project involves releasing and
reassigning people. - ✔✔Closing
✔✔Which of the following is true of a typical functional organization? - ✔✔A project cuts
across organizational boundaries in a typical functional organization.
, ✔✔In the context of the Critical Path Method (CPM), the slack time (ST) for an activity is
computed as: - ✔✔The latest start (LS) time minus the earliest start (ES) time. (LS-ES)
or (LF-EF)
✔✔Implementing a new computer-aided design system is an example of a project in the
functional area of _____. - ✔✔Engineering
✔✔__________refers to reducing the total time to complete the project to meet a
revised due date. - ✔✔Crashing a Project
✔✔Which of the following is true of the Critical Path Method (CPM)? - ✔✔It assumes
that activities are independent of one another, with clearly defined start and finish dates.
✔✔ Alex, a manager at Symbic Inc., plotted the company's total energy costs of 1 billion
dollars over the past 10 years on a chart. The chart suggested that the energy costs
appear to be increasing in a fairly predictable linear fashion and that the energy costs
are related to time by a linear function Y t =3+5t, where Y trepresents the estimate of
the energy cost in year t. Given the equation, which of the following is the value of the
intercept of the straight line that best fits the time series? - ✔✔3
✔✔When no historical data are available, _____ is the sole basis for predicting future
demands. - ✔✔Judgmental forecasting
✔✔_____ are needed to plan workforce levels, allocate budgets among divisions, and
schedule jobs and resources. - ✔✔Intermediate-range forecasts
✔✔A__________is the underlying pattern of growth or decline in a time series. -
✔✔Trend
✔✔An exponential smoothing model must have a smoothing constant (α) _____ to be
roughly equivalent to a moving average model with a seven-month moving average. -
✔✔More than 2.0
✔✔In the context of data patterns in a time series, regular patterns in a data series that
take place over long periods of time are called _____. - ✔✔Cyclical Patterns
✔✔In the context of a fairly stable time series with relatively little random variability,
which of the following statements is true of single exponential smoothing (SES)? -
✔✔Values of the smoothing constant larger than 0.5 place more emphasis on recent
data.
✔✔If the time series in an exponential smoothing model exhibits a negative trend, the
_____. - ✔✔Forecast will overshoot the actual values
