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CPM and PERT in Project Management

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Questions and Answers

What is the formula to calculate the expected time to completion in PERT?

o+2m+p/3
o+4m+p/6 (correct)
o+3m+p/4
o+m+p/3

What is the main reason for the variance in the estimates provided by experts in PERT?

Lack of good evidence
Contrary evidence
Many parameters to consider
All of the above (correct)

What is the purpose of computing the probability factor, Z, in PERT?

To extract the probability from standard normal tables (correct)
To calculate the expected time to completion
To determine the variance of each activity
To determine the critical path

What is the formula to calculate the variance of each activity in PERT?

(p-o)^2/6 (A) Signup and view all the answers

What is the purpose of identifying the critical path in PERT?

To determine the expected time to completion (A) Signup and view all the answers

What is the primary characteristic of liabilities?

They are amounts owed consequent to completed transactions (D) Signup and view all the answers

What is the main purpose of shareholder's funds?

To provide a source of funding for the business (D) Signup and view all the answers

What is the relationship between short-term and long-term liabilities?

Long-term liabilities eventually become short-term liabilities (A) Signup and view all the answers

What is the purpose of technical reserves?

To revalue assets to their market value (A) Signup and view all the answers

What is the correct formula for calculating shareholder's funds?

Assets - Liabilities (D) Signup and view all the answers

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