Project Management EMGT101 Lecture 8
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Questions and Answers

What does Project Monitoring and Controlling involve?

  • Measuring ongoing project activities (correct)
  • Finalizing all activities to close the project
  • Completing and settling contracts
  • Formal acceptance of the project

    • Which phase includes completing and settling contracts applicable to the project?

  • Project Close
  • Influencing factors for change control
  • Project Completion
  • Contract Closure (correct)

    • What does 'Scope Constraint' in project management refer to?

  • Amount of time available to complete a project
  • What must be done to produce the project's end result (correct)
  • Factors that could circumvent integrated change control
  • Budgeted amount available for the project

    • Which activity is NOT part of the Project Completion phase?

    <p>Influencing factors for change control</p> Signup and view all the answers

    What is the key benefit of Project Monitoring and Controlling?

    <p>Identifying variances from the project management plan</p> Signup and view all the answers

    Which phase involves identifying corrective actions to address issues and risks properly?

    <p>Project Monitoring and Controlling</p> Signup and view all the answers

    What is the main purpose of Critical Path Analysis (CPA) flow diagrams?

    <p>To show interdependent factors with overlapping timings</p> Signup and view all the answers

    Which statement accurately describes the Project Evaluation and Review Technique (PERT)?

    <p>PERT is used to analyze the involved tasks in a project and determine the minimum time needed for completion.</p> Signup and view all the answers

    What is the relationship between Project Evaluation and Review Technique (PERT) and Critical Path Method (CPM)?

    <p>PERT can be used in conjunction with CPM to manage complex projects effectively.</p> Signup and view all the answers

    In a project where the duration of each activity is known with certainty, which method would be more suitable to determine the length of time required to complete the total project?

    <p>CPM</p> Signup and view all the answers

    Which method can be utilized to estimate the probability that a project will be completed within a given deadline?

    <p>Project Evaluation and Review Technique (PERT)</p> Signup and view all the answers

    What does Activity refer to in the context of project management?

    <p>A task that requires effort and takes time for completion</p> Signup and view all the answers

    What is the formula to compute the slack time associated with each activity?

    <p>SLACK = LF - EF</p> Signup and view all the answers

    In project scheduling, what are considered critical activities?

    <p>Activities with zero slack time</p> Signup and view all the answers

    What does 'Crash cost' represent in the context of project management?

    <p>The cost of completing an activity on a crash or deadline basis</p> Signup and view all the answers

    What is the purpose of Critical Project Crashing in project management?

    <p>To shorten the project duration by reducing critical activities' time</p> Signup and view all the answers

    In project management, what does 'Normal cost' typically represent?

    <p>An estimate of how much it will take to complete an activity in normal time</p> Signup and view all the answers

    How is the crash cost per time period calculated in project management?

    <p>Crash cost per time period = Normal time - Crash time</p> Signup and view all the answers

    What is the main purpose of project planning?

    <p>To adequately plan time, cost and resources</p> Signup and view all the answers

    Which of the following is NOT a typical step in project planning?

    <p>Executing the project activities</p> Signup and view all the answers

    What is the purpose of the project execution process?

    <p>To complete the work defined in the project management plan</p> Signup and view all the answers

    Which of the following is NOT a part of project monitoring and controlling?

    <p>Developing the project budget</p> Signup and view all the answers

    What is the purpose of risk planning during project planning?

    <p>To identify potential risks and develop mitigation strategies</p> Signup and view all the answers

    Which of the following is a typical step in project planning?

    <p>Estimating time and cost for activities</p> Signup and view all the answers

    What is the primary challenge of project management?

    <p>To achieve all project goals and objectives while adhering to constraints like scope, time, and budget</p> Signup and view all the answers

    What is the term used to refer to a group of related and interdependent engineering projects?

    <p>Program management</p> Signup and view all the answers

    Which of the following is NOT one of the typical development phases of an engineering project?

    <p>Project testing and quality assurance stage</p> Signup and view all the answers

    What is a key aspect of the project initiation stage?

    <p>Determining the nature and scope of the project</p> Signup and view all the answers

    What is meant by a project being a 'temporary endeavor'?

    <p>All of the above</p> Signup and view all the answers

    Which of the following is NOT listed as a key project control needed in the initiation stage?

    <p>Defining the project scope and objectives</p> Signup and view all the answers

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