Project Management Exam 2

A document called ______________ is created by decomposing the project scope into smaller, more manageable elements.

You are working on a project to build a bridge. You have reached the planned halfway mark. The total planned cost at this stage is $500. The actual physical work that has been completed at this stage is worth $400. You have already spent one thousand dollars on the project. What is the CPI?

Preliminary cost estimates are developed during the __________ phase of the project.

Cost baseline is usually represented using which curve or line.

By completing a forward pass a project scheduler can...

A contractor with an Experience Modification Rate (EMR) of 0.9 regarding accident claims will most likely pay more than the industry average for worker's compensation insurance.

You are planning to use PERT for planning of your project. A task has pessimistic estimate of 24 days, most likely estimate of 15 days, and optimistic estimate of 12 days. What is the mean using the PERT technique?

The critical path is the set of events that cannot be delayed without causing an extension of the project

____________ is the number of days that an activity can be delayed without extending the project minimum duration.

_________________ is the amount of money added to the base estimate to account for risk and uncertainty

IN 1970, the federal government began a process of providing a comprehensive set of safety rules and regulations, inspection procedures, and safety record-keeping requirements. OSHA was established at this time. OSHA stands for:

The typical construction worker's (craftwork) productive versus nonproductive time can be broken down by percent of time to the following

If BCWS=1000, BCWP=1200, and ACWP=1300, the project is...

Which activity-to-activity relationship model is assumed when creating a critical path method network diagram?

A rough order of magnitude estimate is made during which phase of a project?

A construction project has a schedule performance index (SPI) of 1.19 and a cost performance index (CPI) of 0.88. Which of the following is the best explanation for why this occurred?

Project expenses paid by the owner to pay for payroll services provided by the contractors home office is what type of cost?

If BAC (budgeted at completion) for a work package is $10,000 and BCWP=$4,000, the the work package is...

When a project is completed, which of the following must be true?

If BAC=$24,000, BCWP=$12,000, ACWP=$10,000 and CPI=(BCWP/ACWP)=1.2, then the cost that remains to finish the project is...

To control the schedule, a project manager is reanalyzing the project to predict project duration She does this by analyzing the sequence of activitie with the least amount of scheduling flexibility. What technique is she using?

You are the project manager of a construction project. The original scope baseline of the project was budgeted at $100,000. Since work on the project start, there have been seventeen authorized and approved changed to the project. The changes have a value of $17,000. There is also an additional change order for $2,500 that has been paid but not yet approved by the owner. What should you report as the current budget for the project?

During the project life cycle, in which part of the life cycle will risk be the lowest?

In critical path scheduling, total float is calculated as the sum of an activity's early start and the late start (TF = LS + ES)

Cost Performance Indicator is an index showing the efficiency of the utilization of the resources on the project. Cost Performance Indicator can be calculated using the following formula: CPI = Actual Cost (AC)/Earned Value (EV)

According to the Association for the Advancement of Cost Engineering (AACE), Class 2 cost estimates are developed during the ___________ phase of the project.

What are the best uses of PERT?

Activities with little total float are called "near-critical" activities, because they can quickly become critical if their small amount of total float is used up in a delay.

A proper Work Breakdown Structure includes:

The Spearin doctrine is a legal principle that holds that when a contractor follows the plans and specifications furnished by the owner, and those plans and specifications turn out to be defective or insufficient, the contractor is not liable to the owner for any loss or damage resulting from the defective plans and specifications.

According to CVEN 349 lecture and the text, forecasts of future costs can be uncertain due to

For most construction activities there may be no direct relationship between elapsed time, actual work, and incurred costs?

A cost performance index (CPI) of 0.89 means

An Organizational Breakdown Structure (OBS) can include