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Questions and Answers
What is the purpose of calculating float/slack in a project using CPM & PERT methods?
What is the purpose of calculating float/slack in a project using CPM & PERT methods?
- To assess project duration variance
- To identify the critical path
- To determine resource allocation
- To evaluate the flexibility of the project schedule (correct)
Which of the following is a key element when establishing the critical path in project management?
Which of the following is a key element when establishing the critical path in project management?
- The estimation of resources needed
- The dependencies between tasks (correct)
- The total number of activities in the project
- The projected cost of the project
When using CPM, what does a project with zero float indicate?
When using CPM, what does a project with zero float indicate?
- All tasks can be delayed without consequence
- Any delay in any task will delay the project (correct)
- The project has no resource constraints
- The tasks are independent of each other
In project scheduling, which technique is primarily used to visually represent the project activities and their sequences?
In project scheduling, which technique is primarily used to visually represent the project activities and their sequences?
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What does the term 'total project duration' refer to in the context of CPM and PERT?
What does the term 'total project duration' refer to in the context of CPM and PERT?
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Study Notes
Total Project Duration
- Refers to the overall time required to complete a project from start to finish.
Float/ Slack Calculation
- Represents the amount of leeway or buffer time available for a specific activity within a project.
- Determines how long an activity can be delayed without impacting the overall project completion date.
Geometrical and Numbering Rules for Network Development
- Guidelines for creating project networks to ensure clarity, accuracy, and ease of analysis.
Critical Path Method (CPM)
- A project management technique that identifies the longest sequence of activities in a project, known as the critical path.
- Activities on the critical path have zero float, meaning any delay to these activities will delay the entire project.
- Used to determine the minimum project duration and identify activities requiring strict monitoring.
Program Evaluation and Review Technique (PERT)
- A probabilistic method used to estimate project duration and analyze risk.
- Uses optimistic, pessimistic, and most likely estimates for each activity's duration.
- Allows for calculating expected duration and variance for each activity.
Numerical Calculations
- Involve applying CPM and PERT methods to projects with specific activity durations and dependencies.
- Calculations include:
- Determining the total project duration by identifying the longest path in the project network
- Identifying activities on the critical path
- Calculating float/slack for each activity
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