ele510-everything ordered

Question 1

What is the formula for ES and EF in a network diagram?

Answer 1

ES = max(EF of predecessors); EF = ES + Duration

Question 2

What is the formula for LS and LF?

Answer 2

LF = min(LS of successors); LS = LF − Duration

Question 3

What is float in a network diagram?

Answer 3

Float = LS − ES

Question 4

What defines a critical path?

Answer 4

All activities with float = 0

Question 5

How to find project duration?

Answer 5

Largest EF in final activities

Question 6

What is the meaning of float = 0?

Answer 6

Activity cannot slip without delaying project

Question 7

What are the four dependency types?

Answer 7

FS

Question 8

What is fast tracking?

Answer 8

Overlapping activities to shorten schedule (increases risk)

Question 9

What is crashing?

Answer 9

Adding resources to shorten duration (increases cost)

Question 11

CPIF fee formula

Answer 11

Fee = TF + (TC − AC) × SC

Question 12

CPIF price formula

Answer 12

Price = AC + Fee

Question 13

CPIF AC where fee = max fee

Answer 13

AC = TC + (TF − Fmax) / SC

Question 14

CPIF AC where fee = min fee

Answer 14

AC = TC + (TF − Fmin) / SC

Question 15

FPI profit formula

Answer 15

Profit = TP + (TC − AC) × SC

Question 16

FPI price formula

Answer 16

Price = AC + Profit

Question 17

Target Price formula

Answer 17

TPrice = TC + TP

Question 18

PTA formula

Answer 18

PTA = (PC − TPrice) / SO + TC

Question 19

AC where profit = 0 (FPI)

Answer 19

AC = TC + TP / SC

Question 20

Who holds risk in Firm Fixed Price contracts?

Answer 20

Contractor

Question 21

Who holds risk in Cost Plus Fixed Fee contracts?

Answer 21

Owner

Question 22

Who holds risk in CPIF and FPI?

Answer 22

Shared according to share ratio

Question 24

NPV formula

Answer 24

NPV = Σ CFₜ/(1+r)ᵗ − Initial Cost

Question 25

NPV decision rule

Answer 25

Accept if NPV > 0

Question 26

Cost of equity (CAPM)

Answer 26

re = rf + β (rm − rf)

Question 27

WACC formula

Answer 27

WACC = (E/V)re + (D/V)rd(1−T)

Question 28

Profitability Index formula

Answer 28

PI = PV of future cash flows / Initial Cost

Question 29

Profitability Index decision rule

Answer 29

Accept if PI > 1

Question 30

Payback period definition

Answer 30

Time until cumulative cash flows become positive

Question 31

IRR definition

Answer 31

Discount rate that sets NPV = 0

Question 32

IRR decision rule

Answer 32

Accept if IRR > required rate

Question 34

Define PV in Earned Value

Answer 34

PV = Planned Value (planned work)

Question 35

Define EV in Earned Value

Answer 35

EV = Earned Value (completed work)

Question 36

Define AC in Earned Value

Answer 36

AC = Actual Cost (cost spent)

Question 37

Cost Variance formula

Answer 37

CV = EV − AC

Question 38

Schedule Variance formula

Answer 38

SV = EV − PV

Question 39

CPI formula

Answer 39

CPI = EV / AC

Question 40

SPI formula

Answer 40

SPI = EV / PV

Question 41

Interpret CPI < 1

Answer 41

Over budget (bad)

Question 42

Interpret SPI < 1

Answer 42

Behind schedule (bad)

Question 43

EAC formula (most used)

Answer 43

EAC = BAC / CPI

Question 44

VAC formula

Answer 44

VAC = BAC − EAC

Question 46

Risk exposure formula

Answer 46

Risk Exposure = Probability × Impact

Question 47

What is an iso-risk line?

Answer 47

Different risks with equal exposure

Question 48

What are the 6 risk responses?

Answer 48

Accept

Question 49

What is a contingency plan?

Answer 49

Predetermined backup plan for identified risks

Question 50

Difference between risk and hazard

Answer 50

Risk = probability × impact; hazard = source of harm

Question 52

Four phases of the project life cycle

Answer 52

Concept → Planning → Execution → Close-out

Question 53

What is fast tracking vs crashing?

Answer 53

Fast = overlap tasks; Crash = add resources

Question 54

What is a milestone?

Answer 54

A significant point/event with zero duration

Question 55

Difference between Gantt early vs late start

Answer 55

Early = ASAP scheduling; Late = latest start without delay

Question 56

Difference between network diagram and Gantt

Answer 56

Network shows logic; Gantt shows timeline

Question 58

PBS definition

Answer 58

Product Breakdown Structure = deliverables

Question 59

WBS definition

Answer 59

Work Breakdown Structure = tasks/work packages

Question 60

OBS definition

Answer 60

Organizational Breakdown Structure = who is responsible

Question 61

Purpose of a WBS

Answer 61

Basis for cost estimation and scheduling

Question 62

PBS vs WBS

Answer 62

PBS = what; WBS = how

Question 64

Power–Interest Matrix: High power/high interest

Answer 64

Manage closely

Question 65

Power–Interest: High power/low interest

Answer 65

Keep satisfied

Question 66

Power–Interest: Low power/high interest

Answer 66

Keep informed

Question 67

Power–Interest: Low power/low interest

Answer 67

Monitor

Question 68

Salience Model: three attributes

Answer 68

Power

Question 69

Salience: stakeholder with all three attributes

Answer 69

Definitive stakeholder

Question 70

Stakeholder analysis steps

Answer 70

Identify → Classify → Analyze → Plan engagement → Monitor

Question 72

Functional structure definition

Answer 72

Departments; PM has little authority

Question 73

Projectized structure definition

Answer 73

PM has full authority

Question 74

Matrix structure definition

Answer 74

Dual reporting lines

Question 75

When to use matrix structure

Answer 75

When resources must be shared across projects

Question 76

What is supply chain management?

Answer 76

Managing flow of materials and services

Question 77

Procurement phases

Answer 77

Planning → Selection → Contracting → Control

Question 78

Difference between T-buy

Answer 78

RFQ

Question 80

Systems diagram components

Answer 80

Inputs → Process → Outputs → Feedback

Question 81

Difference between feedback and feed-forward

Answer 81

Feedback = after output; feed-forward = before process

Question 82

What is a system?

Answer 82

Interrelated components working toward a purpose

Question 83

What is a process?

Answer 83

A sequence of activities transforming inputs

Question 84

What is a procedure?

Answer 84

A specified method for performing tasks

Question 86

Scoping definition

Answer 86

Defining what is and isn’t included

Question 87

Scope leap vs scope creep

Answer 87

Leap = big sudden change; Creep = small uncontrolled changes

Question 88

SMART framework

Answer 88

Specific

Question 89

Triple constraint (fundamental constraints)

Answer 89

Time

Question 90

Team life cycle

Answer 90

Forming → Storming → Norming → Performing → Adjourning

Question 92

Belbin roles examples

Answer 92

Plant (ideas)

Question 93

Conflict resolution: collaborate

Answer 93

Win–win

Question 94

Conflict resolution: avoid

Answer 94

Ignore problem

Question 95

Conflict resolution: force

Answer 95

One side wins

Question 96

Leadership achieving styles

Answer 96

Charismatic

Question 98

Quality definition

Answer 98

Conformance to requirements

Question 99

Difference: quality vs grade

Answer 99

Grade = category; quality = correctness

Question 100

Difference: quality vs reliability

Answer 100

Reliability = consistency of performance

Question 101

Cost of quality formula

Answer 101

COQ = Prevention + Appraisal + Failure

Question 102

What is an external failure?

Answer 102

Warranty claims

Question 104

Purpose of project control system

Answer 104

Track performance against plan

Question 105

Three types of change in projects

Answer 105

Scope change

Question 106

Who pays for change?

Answer 106

Depends on contract type and responsibility

Question 107

Milestone monitoring definition

Answer 107

Tracking progress using key checkpoints

Question 108

Determinants of project success

Answer 108

Clearly defined goals

Question 109

Determinants of project failure

Answer 109

Poor planning