Project Management Fundamentals

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Questions and Answers

What is the primary purpose of PERT and CPM in project management?

  • To evaluate the project's feasibility
  • To allocate resources efficiently
  • To assist managers in managing projects (correct)
  • To estimate the project budget

What is the main difference between PERT and CPM?

  • PERT is used for research projects, while CPM is used for manufacturing projects
  • PERT is used for construction projects, while CPM is used for product development
  • PERT has three time estimates, while CPM has a single time estimate (correct)
  • PERT is used for small projects, while CPM is used for large projects

What is the first phase of project management?

  • Planning (correct)
  • Scheduling
  • Executing
  • Controlling

What is the primary goal of project planning?

<p>To set the objectives of the project (C)</p> Signup and view all the answers

What is the main advantage of using PERT and CPM in project management?

<p>It assists managers in reacting to changing conditions (D)</p> Signup and view all the answers

Which of the following projects is most likely to use PERT and CPM?

<p>Construction of a housing complex (C)</p> Signup and view all the answers

What is the primary purpose of constructing a network diagram during the planning stage of a project?

<p>To identify the sequential interrelationships between activities (B)</p> Signup and view all the answers

During the scheduling phase, what is the outcome of applying forward and backward pass techniques?

<p>Calculation of start and finish times for each activity (A)</p> Signup and view all the answers

What is the significance of identifying the critical path in a project?

<p>It predicts the project completion time (A)</p> Signup and view all the answers

What is the purpose of a dummy activity in a PERT/CPM network?

<p>To maintain the logical relationships between activities (D)</p> Signup and view all the answers

What do events represent in a PERT/CPM network?

<p>Points in time that mark the start or end of an activity (A)</p> Signup and view all the answers

What is the purpose of controlling in a project?

<p>To analyze and evaluate the actual progress against the plan (C)</p> Signup and view all the answers

What is the primary purpose of constructing a project network diagram?

<p>To identify the critical path of the project (B)</p> Signup and view all the answers

What is the formula used to calculate the expected time for each activity?

<p>Expected time = (Optimistic time + 4*Most likely time + Pessimistic time)/6 (D)</p> Signup and view all the answers

What is the purpose of identifying the critical path in a project network?

<p>To determine the project duration (D)</p> Signup and view all the answers

What is the next step after calculating the expected time and variance of each activity?

<p>Constructing the project network diagram (C)</p> Signup and view all the answers

What is the probability of completing the project within a given time calculated using?

<p>P (Z&lt; Z0) formula (D)</p> Signup and view all the answers

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