Podcast
Questions and Answers
What is the formula for calculating total float (TF)?
What is the formula for calculating total float (TF)?
- TF = LS - ES
- TF = (LF - EF) - (LS - ES) (correct)
- TF = LF - EF
- TF = (LS - ES) + (LF - EF)
In project management, what does the term 'Parkinson’s Law' refer to?
In project management, what does the term 'Parkinson’s Law' refer to?
- Work completion time is independent of the allocated time
- Work contracts to fit the time available for its completion
- Work expands to fill the allotted time (correct)
- Work efficiency increases with time
What is the formula for calculating standard deviation (σ) using three time estimates (a, m, b)?
What is the formula for calculating standard deviation (σ) using three time estimates (a, m, b)?
- $rac{(b - a)}{6^2}$
- $rac{(b - a)}{6}$ (correct)
- $rac{(b - a)}{2}$
- $rac{(b - a)^2}{6}$
What is the AON Network primarily used for in project management?
What is the AON Network primarily used for in project management?
What is the key advantage of using a Gantt chart in project management?
What is the key advantage of using a Gantt chart in project management?
What does the Critical Path in project management represent?
What does the Critical Path in project management represent?
What is the purpose of incorporating costs into simulation analysis in project management?
What is the purpose of incorporating costs into simulation analysis in project management?
What does the formula TE = $(a + 4m + b)$ represent in project management?
What does the formula TE = $(a + 4m + b)$ represent in project management?
What is the primary disadvantage of using a Gantt chart in project management?
What is the primary disadvantage of using a Gantt chart in project management?
What is the purpose of using three time estimates (optimistic, pessimistic, most likely) in project management?
What is the purpose of using three time estimates (optimistic, pessimistic, most likely) in project management?
In project management, what does the term 'Slack' (aka, Float) refer to?
In project management, what does the term 'Slack' (aka, Float) refer to?
What does the Precedence Diagramming Restrictions primarily define in project management?
What does the Precedence Diagramming Restrictions primarily define in project management?
Which project management tool is used for converting a project action plan into an operating timetable?
Which project management tool is used for converting a project action plan into an operating timetable?
What is the advantage of network scheduling?
What is the advantage of network scheduling?
Which technique was developed for the Polaris missile/submarine project in 1958?
Which technique was developed for the Polaris missile/submarine project in 1958?
What is the result of completing one or more activities in a project?
What is the result of completing one or more activities in a project?
What is the critical path in a project?
What is the critical path in a project?
What is the immediate predecessor in a project?
What is the immediate predecessor in a project?
What is the first step in constructing a network for a project?
What is the first step in constructing a network for a project?
What was developed by Henry L. Gantt?
What was developed by Henry L. Gantt?
What is the basis for monitoring a project?
What is the basis for monitoring a project?
Which project management tool shows when resources are needed?
Which project management tool shows when resources are needed?
What do CPM and PERT stand for?
What do CPM and PERT stand for?
What is the combination of all activities and events that define a project called?
What is the combination of all activities and events that define a project called?
What is the main difference between CPM and PERT in terms of time estimates?
What is the main difference between CPM and PERT in terms of time estimates?
What is the primary purpose of a Gantt (Bar) Chart in project management?
What is the primary purpose of a Gantt (Bar) Chart in project management?
What is the result of completing one or more activities in a project?
What is the result of completing one or more activities in a project?
What does the term 'Slack' (aka, Float) refer to in project management?
What does the term 'Slack' (aka, Float) refer to in project management?
What is the primary advantage of using network scheduling in project management?
What is the primary advantage of using network scheduling in project management?
What is the term used to describe a series of connected activities in project management?
What is the term used to describe a series of connected activities in project management?
Which project management tool is used for converting a project action plan into an operating timetable?
Which project management tool is used for converting a project action plan into an operating timetable?
What is the term for an activity, event, or path which, if delayed, will delay the completion of the project?
What is the term for an activity, event, or path which, if delayed, will delay the completion of the project?
What was the purpose of developing PERT and CPM initially?
What was the purpose of developing PERT and CPM initially?
What is the term used to describe the combination of all activities and events that define a project?
What is the term used to describe the combination of all activities and events that define a project?
What is the term used to describe a specific task or set of tasks that are required by the project, use up resources, and take time to complete?
What is the term used to describe a specific task or set of tasks that are required by the project, use up resources, and take time to complete?
What does the term 'Immediate Predecessor' refer to in project management?
What does the term 'Immediate Predecessor' refer to in project management?
Study Notes
Project Management Formulas and Concepts
- Total Float (TF) formula: Not provided in the original text, but it is typically calculated as TF = LF - EF, where LF is the latest finish time and EF is the earliest finish time.
- Parkinson's Law: Refers to the idea that "work expands to fill the time available for its completion".
Standard Deviation and Time Estimates
- Standard Deviation (σ) formula using three time estimates (a, m, b): σ = (b - a) / 6
- TE = $(a + 4m + b) / 6 represents a method to estimate the expected time for a task.
Network Diagrams and Scheduling
- AON Network: Primarily used to create a visual representation of a project schedule.
- Gantt Chart: A type of bar chart that illustrates a project schedule. Advantage: provides a clear visual representation of the project timeline.
- Disadvantage of Gantt Chart: Can be cumbersome to create and update manually.
Critical Path and Float
- Critical Path: Represents the sequence of activities that determines the minimum duration required to complete a project.
- Slack (Float): Refers to the amount of time an activity can be delayed without affecting the overall project duration.
Project Management Tools and Techniques
- Precedence Diagramming Restrictions: Define the relationships between activities in a project.
- PERT and CPM: Two popular project management techniques developed in the late 1950s.
- CPM and PERT: Stand for Critical Path Method and Program Evaluation and Review Technique, respectively.
- PERT was developed for the Polaris missile/submarine project in 1958.
Project Management Fundamentals
- A project: Comprises a series of connected activities and events.
- Activity: A specific task or set of tasks that are required by the project, use up resources, and take time to complete.
- Immediate Predecessor: The activity that must be completed before another activity can begin.
- Network Scheduling: Advantage: allows for the creation of a realistic project schedule.
- Henry L. Gantt: Developed the Gantt chart.
- Basis for monitoring a project: The project schedule and budget.
- Resource allocation: Can be planned using a Gantt chart, which shows when resources are needed.
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Description
Test your knowledge of project scheduling with this quiz on Chapter 8 concepts from "Copyright 2018 John Wiley & Sons, Inc." Learn about CPM, PERT, and the importance of detailed plans in project management.
