ARE 5.0 Project Management exam 2024 with 100% correct answers

Project Management - correct answer Includes project planning, scheduling, monitoring, coordinating and directing, updating documentation, closing out the job, and following up with clients. Partnering - correct answer Various stakeholders in a project (such as the architect, owner, contractor and vendors) all participate in the decision-making process. Bar Chart - correct answer Method commonly used for scheduling design and construction projects. Tasks are listed in chronological order on vertical access and time period is listed on horizontal axis. (Aka Gantt Chart) Dependency - correct answer The relationship between a task that must be completed before another can start. Critical Path Method (CPM) - correct answer Common scheduling tool that graphically depicts all the tasks needed to complete a project, the sequence in which tasks must occur, and each task's duration. Float - correct answer The maximum length of time a noncritical task can be delayed or extended before it causes a delay. Work Plan - correct answer A detailed project schedule, breaking the project down into its component tasks and assigning staff members and other resources to each task. (Aka Fee projection) Pro Forma - correct answer Statement listing the expected income that the project will generate and the expected costs to build the project. Value Engineering - correct answer Reviewing individual systems and materials to see if the same function can be accomplished in a less expensive way. Building Cost