Lecture 6

Question 1

What does CPM stand for?

Answer 1

Critical Path Method

Question 2

What does PERT stand for?

Answer 2

Program Evaluation and Review Technique

Question 3

What is the definition of a schedule in project management?

Answer 3

The conversion of a project action plan into an operation timetable

Question 4

True or False: All project activities need to be scheduled at the same level of detail.

Answer 4

False

Question 5

Where is most scheduling done in project management?

Answer 5

At the WBS level, not the work package level

Question 6

What is a critical work package?

Answer 6

The most important work packages that may be shown on the schedule

Question 7

What is a network in project scheduling?

Answer 7

The combination of all activities and events that define a project

Question 8

List three advantages of network scheduling.

Answer 8

• Consistent framework
• Shows dependencies
• Determines expected completion date

Question 9

What is the purpose of PERT?

Answer 9

To use probabilistic time estimates

Question 10

What is the main difference between CPM and PERT?

Answer 10

CPM uses deterministic time estimates, while PERT uses probabilistic time estimates

Question 11

What is an activity in project management?

Answer 11

A specific task or set of tasks required by the project, using resources and taking time to complete

Question 12

Fill in the blank: A ________ is the result of completing one or more activities.

Answer 12

Event

Question 13

What does ‘critical path’ refer to in project management?

Answer 13

The path through the project where, if any activity is delayed, the project is delayed

Question 14

True or False: There can be more than one critical path in a project.

Answer 14

True

Question 15

What is a sequential activity?

Answer 15

An activity that must be completed before the next one can begin

Question 16

What is a Parallel activity?

Answer 16

Activities can take place at the same time

Question 17

____ is an activity thaty must be completed just before a particular activity can begin

Answer 17

Immediate Predecessor

Question 18

What are the steps to constructing the network

Answer 18

Begin with the start activity, add activities without precedence as nodes, add activities that have those activities as precedencies, then continue

Question 19

Who developed Gantt charts

Answer 19

Henry L Gantt

Question 20

What is the purpose of Gantt charts?

Answer 20

To show planned and actual progress of a project

Question 21

List two advantages of Gantt charts.

Answer 21

• Easily understood
• Provides a picture of the current state of a project

Question 22

What is a disadvantage of Gantt charts?

Answer 22

Difficult to follow complex projects

Question 23

what are three important things to be aware of when estimating activity times

Answer 23

• It is vital to good project management to be meticulously honest in estimating the time required to complete each of the various tasks included in the project
• No false deadlines
• Evaluate alternative ways of completing work

Question 24

What are the three time estimates used to calculate activity times?

Answer 24

• Optimistic
• Pessimistic
• Most likely

Question 25

what is the formula for the expected time

Answer 25

(a +4m+b)/6

Question 26

variance formula

Answer 26

( (b-a) / 6) ^2

Question 27

standard deviation formula

Answer 27

(b-a) /6

Question 28

z-score formula for a given deadline

Answer 28

z = (D - TE) / stand. dev.

Question 29

what is slack time? Another word for it?

Answer 29

also known as flaot. The amount of time that a task in a project schedule can be delayed without delaying the project's overall completion date.

Question 30

What must be assumed for the variance of a set of activities?

Answer 30

Activities are statistically independent

Question 31

Which is more important, Time or Budget?

Answer 31

no answer, the best way to find out which is more important is to consider both

Question 32

What are Budget related risks

Answer 32

- what factors could increase cost - what could delay funding or payment - what assumptions in your cost estimation are uncertain

Question 33

What is the formula to find expected monetary value (EMV)?

Answer 33

Risk probability x cost impact

Question 34

What are known-unknowns in project risk management?

Answer 34

Build contingency reserves for known-unknowns and allocate management reserves

Question 35

Steps in risk assessment frameworks

Answer 35

1. identify risk factors 2. create risk breakdown structure 3. qualitative risk analysis (questionnairesfor determination the probability and impact). Calculate risk score for determination the ranging if risk factors 4. cost matrix for each category (high, med, low) 5. risk response plan for high priority risks

Question 36

What is the purpose of machine learning in project risk management?

Answer 36

To predict and quantify project risks using past data

Question 37

How does natural language processing (NLP) assist in project risk management?

Answer 37

Detects early risk signals from unstructured text

Question 38

What is the role of reinforcement learning (RL) in project management?

Answer 38

Adapts project plans dynamically to minimize risk exposure

Question 39

What is a AI-driven simulation and digital twin in project management?

Answer 39

tests risk scenarios virtually before real implementation

Question 40

name any 3 limitations in AI

Answer 40

- data quality issues - human factors ignored - model bias - lack of transparency - need for human oversight - high cost/complexity - security risks - overreliance

Question 41

True or False: simulation should be used after understanding traditional statistical approaches.

Answer 41

True