BADM 3601 OPERATIONS
MANAGEMENT FINAL EXAM
False, Project - Correct Answers -True or False:
A program is an interrelated set of activities with a definite starting and ending point,
which results in a unique outcome for a specific allocation of resources.
complete the project on time or earlier, do not exceed the budget, meet the
specifications - Correct Answers -What are the 3 main goals of a project?
project management - Correct Answers -a systemized, phased approach to defining,
organizing, planning, monitoring, and controlling projects
False, they do - Correct Answers -True or False:
Projects don't cut across organizational lines because they need the skills of multiple
professions and organizations.
temporary because personnel, materials, and facilities are organized to complete them
within a specified time frame. - Correct Answers -Are projects temporary or permanent?
Why?
uncertainties - Correct Answers -What can change the character of projects and require
responsive countermeasures?
program - Correct Answers -an interdependent set of projects that have a common
strategic purpose
Work Breakdown Structure (WBS) - Correct Answers -a statement of all work that has
to be completed
the omission of work that is germane to the successful completion of the project -
Correct Answers -What is the single most important contributor to delay?
activity - Correct Answers -the smallest unit of work effort consuming both time and
resources that the project manager can schedule and control
Define the WBS, draw the network, develop the schedule, analyze cost time trade offs,
assess the risks - Correct Answers -What are the 5 steps of planning projects?
cumulative sum of forecast errors (CFE) - Correct Answers -a measurement of the total
forecast error that assesses the bias in a forecast
, mean squared error (MSE) - Correct Answers -a measurement of the dispersion of
forecast errors
low, the forecast is typically close to the actual demand - Correct Answers -When
comparing MSE or MAD should you pick a high or low number and why?
activity ownership - Correct Answers -What should each activity in the WBS have in
order to avoid confusion in the execution of activities?
monitor and control projects - Correct Answers -What can network planning methods
help managers with?
network diagram - Correct Answers -a network planning method, designed to depict the
relationships between activities, that consists of nodes (circles) and arcs (arrows)
critical path method (CPM) - Correct Answers -a network planning method developed in
the 1950s as a means of scheduling maintenance shutdowns at chemical-processing
plants
precedence relationship - Correct Answers -a relationship that determines a sequence
for undertaking activities; it specifies that one activity cannot start until a preceding
activity has been completed
False, large projects - Correct Answers -True or False:
For small projects, establishing precedence relationships is essential because incorrect
or omitted precedence relationships will result in costly delays.
probability distributions - Correct Answers -If the estimates of activity times involve a
high degree of uncertainty what should you use?
activity on node network (AON) - Correct Answers -an approach used to create a
network diagram, in which nodes represent activities and arcs represent the precedence
relationships between them
start - Correct Answers -In cases of multiple activities with no predecessors, it is usual
to show them emanating from a common node. What is that common node called?
path - Correct Answers -the sequence of activities between a project's start and finish
critical path - Correct Answers -the sequence of activities that determine the earliest
date by which the project can be completed
completion time, delayed - Correct Answers -The activities along the critical path
determine the _________ of the project. That is, if one of the activities on the critical
path is delayed, the entire project will be ______.
MANAGEMENT FINAL EXAM
False, Project - Correct Answers -True or False:
A program is an interrelated set of activities with a definite starting and ending point,
which results in a unique outcome for a specific allocation of resources.
complete the project on time or earlier, do not exceed the budget, meet the
specifications - Correct Answers -What are the 3 main goals of a project?
project management - Correct Answers -a systemized, phased approach to defining,
organizing, planning, monitoring, and controlling projects
False, they do - Correct Answers -True or False:
Projects don't cut across organizational lines because they need the skills of multiple
professions and organizations.
temporary because personnel, materials, and facilities are organized to complete them
within a specified time frame. - Correct Answers -Are projects temporary or permanent?
Why?
uncertainties - Correct Answers -What can change the character of projects and require
responsive countermeasures?
program - Correct Answers -an interdependent set of projects that have a common
strategic purpose
Work Breakdown Structure (WBS) - Correct Answers -a statement of all work that has
to be completed
the omission of work that is germane to the successful completion of the project -
Correct Answers -What is the single most important contributor to delay?
activity - Correct Answers -the smallest unit of work effort consuming both time and
resources that the project manager can schedule and control
Define the WBS, draw the network, develop the schedule, analyze cost time trade offs,
assess the risks - Correct Answers -What are the 5 steps of planning projects?
cumulative sum of forecast errors (CFE) - Correct Answers -a measurement of the total
forecast error that assesses the bias in a forecast
, mean squared error (MSE) - Correct Answers -a measurement of the dispersion of
forecast errors
low, the forecast is typically close to the actual demand - Correct Answers -When
comparing MSE or MAD should you pick a high or low number and why?
activity ownership - Correct Answers -What should each activity in the WBS have in
order to avoid confusion in the execution of activities?
monitor and control projects - Correct Answers -What can network planning methods
help managers with?
network diagram - Correct Answers -a network planning method, designed to depict the
relationships between activities, that consists of nodes (circles) and arcs (arrows)
critical path method (CPM) - Correct Answers -a network planning method developed in
the 1950s as a means of scheduling maintenance shutdowns at chemical-processing
plants
precedence relationship - Correct Answers -a relationship that determines a sequence
for undertaking activities; it specifies that one activity cannot start until a preceding
activity has been completed
False, large projects - Correct Answers -True or False:
For small projects, establishing precedence relationships is essential because incorrect
or omitted precedence relationships will result in costly delays.
probability distributions - Correct Answers -If the estimates of activity times involve a
high degree of uncertainty what should you use?
activity on node network (AON) - Correct Answers -an approach used to create a
network diagram, in which nodes represent activities and arcs represent the precedence
relationships between them
start - Correct Answers -In cases of multiple activities with no predecessors, it is usual
to show them emanating from a common node. What is that common node called?
path - Correct Answers -the sequence of activities between a project's start and finish
critical path - Correct Answers -the sequence of activities that determine the earliest
date by which the project can be completed
completion time, delayed - Correct Answers -The activities along the critical path
determine the _________ of the project. That is, if one of the activities on the critical
path is delayed, the entire project will be ______.
