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Questions and Answers
What are the two techniques used for project analysis?
What are the two techniques used for project analysis?
What does CPM stand for?
What does CPM stand for?
What was the original difference between CPM and PERT in terms of time estimates?
What was the original difference between CPM and PERT in terms of time estimates?
How are activities represented in PERT?
How are activities represented in PERT?
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What was the approximate time period when CPM and PERT were developed?
What was the approximate time period when CPM and PERT were developed?
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What is the result of merging CPM and PERT?
What is the result of merging CPM and PERT?
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What are project networks used for?
What are project networks used for?
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What is the advantage of using the AON convention?
What is the advantage of using the AON convention?
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What is a network path in a project network?
What is a network path in a project network?
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What is the critical path in a project network?
What is the critical path in a project network?
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What determines the minimum project completion time?
What determines the minimum project completion time?
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What is the purpose of analyzing the critical path?
What is the purpose of analyzing the critical path?
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What is the assumption of the CPM/PERT method regarding activity times?
What is the assumption of the CPM/PERT method regarding activity times?
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What is the purpose of computing the variance for project duration (vp)?
What is the purpose of computing the variance for project duration (vp)?
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What distribution is assumed for the network mean and variance in CPM/PERT analysis?
What distribution is assumed for the network mean and variance in CPM/PERT analysis?
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What is the formula used to compute the Z value in probability analysis?
What is the formula used to compute the Z value in probability analysis?
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What is the shaded area in Figure 8.17?
What is the shaded area in Figure 8.17?
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What is the benefit of using the normal distribution in CPM/PERT analysis?
What is the benefit of using the normal distribution in CPM/PERT analysis?
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Why is the assumption of normal distribution justified in CPM/PERT analysis?
Why is the assumption of normal distribution justified in CPM/PERT analysis?
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What is the primary purpose of a Gantt chart in project management?
What is the primary purpose of a Gantt chart in project management?
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What is a limitation of using Gantt charts in project management?
What is a limitation of using Gantt charts in project management?
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What is the primary goal of project control?
What is the primary goal of project control?
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What is time management in the context of project management?
What is time management in the context of project management?
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What is a possible consequence of shifting resources to accelerate critical activities?
What is a possible consequence of shifting resources to accelerate critical activities?
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What is the term used to describe the process of shifting resources from one activity to another to accelerate the project schedule?
What is the term used to describe the process of shifting resources from one activity to another to accelerate the project schedule?
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What is the primary purpose of monitoring project progress?
What is the primary purpose of monitoring project progress?
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What is the benefit of using a Gantt chart to monitor project progress?
What is the benefit of using a Gantt chart to monitor project progress?
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What is a key requirement for EVA to work effectively?
What is a key requirement for EVA to work effectively?
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What is a drawback of using EVA?
What is a drawback of using EVA?
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What is the primary difference between CPM and PERT in terms of activity time estimation?
What is the primary difference between CPM and PERT in terms of activity time estimation?
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What is the advantage of using CPM/PERT over the Gantt chart?
What is the advantage of using CPM/PERT over the Gantt chart?
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What is the representation of activities in a PERT network?
What is the representation of activities in a PERT network?
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What is the primary difference between CPM and PERT in terms of network drawing?
What is the primary difference between CPM and PERT in terms of network drawing?
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What is the name of the technique that is commonly used today, which is a merger of CPM and PERT?
What is the name of the technique that is commonly used today, which is a merger of CPM and PERT?
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What is the name of the network used in CPM/PERT?
What is the name of the network used in CPM/PERT?
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Study Notes
Project Management Overview
- Project management involves the analysis and planning of projects, such as building construction, drug development, and computer system installation, using network techniques like CPM/PERT.
- CPM stands for Critical Path Method, and PERT is Project Evaluation and Review Technique, both of which were developed in the late 1950s.
Gantt Chart
- A Gantt chart is a visual display of a project schedule, showing when activities start and finish, and where extra time is available or delays occur.
- It can be used to monitor progress and identify ahead-of-schedule or behind-schedule activities.
- However, it has limitations, such as difficulty in showing precedence relationships between activities, especially in larger projects.
Project Control
- Project control involves monitoring progress to minimize deviations from the project plan and schedule.
- If deviations occur, corrective action must be taken, which may involve shifting resources to accelerate critical activities and making time-cost trade-offs.
- Earned Value Analysis (EVA) can be used to measure project progress, but it has drawbacks, such as difficulty in measuring work progress and requiring considerable time for data measurement.
CPM/PERT
- CPM/PERT is a network technique that uses a single estimate or probabilistic time estimates for activity times.
- It was originally two separate techniques, CPM and PERT, but have merged into a single technique.
- CPM/PERT has advantages over Gantt charts, such as clearly showing precedence relationships between activities.
AOA Networks
- A CPM/PERT network can be drawn using AOA (Activity-On-Arc) or AON (Activity-On-Node) conventions.
- Both conventions have minor advantages and disadvantages, but AON is popularly used in Microsoft Project software.
The Critical Path
- A network path is a sequence of connected activities from the start to the end of the network.
- The longest path in the network is the critical path, which determines the minimum project completion time.
- The critical path is the minimum time in which the project can be completed.
Probability Analysis
- The CPM/PERT method assumes that activity times are statistically independent and can be summed to get an expected project time and variance.
- The network mean and variance are assumed to be normally distributed, allowing for probabilistic statements about the project.
- Probability analysis can be used to determine the probability of completing a project within a certain timeframe.
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Description
This quiz covers project management, including project analysis and network techniques such as CPM. It explores how networks are used in projects like building construction, drug development, and computer system installation.