PJM 6500 Project Management

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PJM 6500 Project Management: Initiation,
Implementation & Termination
Final Exam
Instructions: Multiple Choice questions: Select the best answer for each question. Essay Responses: All questions need to be answered in essay format (must be typed, doubled spaced, Times New Roman, 12 point font, with 1″ margins, and all sources must be sited).
Mathematical Responses: Students must show all the formulas and all procedures. Answers only will not be accepted, make sure to show all your work. Answers must be typed, double spaced, Times New Roman, 12 point font, with 1″ margins).
1. _____ Which of the following is a direct cost? A) Labor B) Rent C) Depreciation on equipment D) Health benefits
2. The gentleman farmer and surrealist aficionado commissioned a mural on barn that was an homage to Salvador Dalí’s Persistence of Memory with a few farm animals included. The project would require the services of a senior muralist, a junior muralist, and a gofer. The senior muralist has an annual salary of $120,000, the junior muralist draws an annual salary of $75,000, and the gofer makes $30,000 per year. It is anticipated that the project will require 25 hours of senior muralist time, 40 hours of junior muralist time, and 60 hours of gofer time. Overhead charges vary by position; the gofer has a lower overhead rate (30%) than the two muralist positions (50%). Use 2080 hours as an estimate for the number of hours in a year and a 15% factor for personal time. What is the total direct labor cost for the project?
3. _____ Three workers complete a full 8-hour day finishing concrete for a terrace. All three workers are paid $12 an hour and the job bills to the customer for $450. What are the total direct labor costs?
A) $450 B) $12 C) $288 D) $96
4. _____Which of these indirect costs is typically classified as an overhead cost? A) Advertising B) Shipping C) Sales commissions D) Taxes
5. _____A systems analyst is paid at the rate of $50/hour and will be needed for 40 hours. Her employer uses an overhead multiplier of 60% and does not factor in personal time. Her total direct labor cost should be billed at:
A) $2,000. B) $3,200. C) $1,250. D) $4,500.
6. _____Which of these is typically a recurring cost? A) Preliminary market analysis B) Personnel training C) Outplacement services D) Logistics
7. _____Which of these estimates should be the most accurate? A) Parametric B) Definitive C) Comparative D) Order of magnitude
8. _____An activity with a learning rate of 0.85 takes 25 hours for the first iteration. How long will it take to complete this task for the 15th time?
A) 12.55 hours B) 12.85 hours C) 13.15 hours D) 13.25 hours
9. What is the background of CPM and PERT? What are the differences between the two techniques?
10. _____Summaries for some subsets of the activities identified in the overall project network are called:
A) Ladder activities. B) Hammock activities. C) Negative float activities. D) Compressed activities.
11. What does a network diagram illustrate and why are they important in project management?
12. _____The length of time expected to complete an activity assuming that its development proceeds normally is called the:
A) Optimistic duration. B) Pessimistic duration. C) Most likely duration. D) Normal duration.
13. _____An activity has an optimistic time estimate of 25 days, a most likely estimate of 29 days, and a pessimistic estimate of 34 days. What is the expected duration of the activity?
A) Less than 31 days but greater than or equal to 29 days B) Less than 29 days but greater than or equal to 27 days C) Less than 27 days but greater than or equal to 25 days D) Less than 25 days
14. _____An activity has an optimistic time estimate of 12 days, a most likely estimate of 16 days, and a pessimistic estimate of 22 days. What is the expected standard deviation of the activity?
A) Between 1 and 2 days B) Between 2 and 3 days C) Between 3 and 4 days D) Between 4 and 5 days
15. _____A gentleman farmer maniacally works on academic projects to raise funds for his true passion, farming. He has identified seven tasks and developed three time estimates (all in days) of the next big project on the farm, replacing the fence at the comedy pasture. Tasks, precedence requirements, and time estimates are shown in the table. What is the expected completion time of the project?
Activity
Optimistic
time
Most Likely
time
Pessimistic
time Predecessor
Corner Posts 4 5 6 —
String Line 7 8 9 —
Dig Holes 10 12 14 Corner Posts
Plant Posts 11 14 17 String Line
Weld Top Bar 8 11 14 String Line
Paint 9 11 13 Dig Holes, Plant Posts
Tack Wire 9 12 16 Weld Top Bar
A) 32 days B) 33 days C) 34 days D) 35 days
16. _____The most common type of logical sequencing between tasks is referred to as the: A) Finish to start relationship. B) Finish to finish relationship. C) Start to start relationship. D) Start to finish relationship.
17. _____A finish to start lag delay is usually shown: A) As an added value in the predecessor’s activity time. B) On the line adjoining the two activity nodes. C) As an added value in the predecessors early start time. D) As a subtracted value in the follower’s early finish time.
18. _____Activities A and B have a finish to finish relationship and early start and finish times as shown. What is the result of incorporating a 4-day lag between activities C and B?
A) The early finish for A increases to 31. B) The early start time for A increases to 24. C) The early finish time for B increases to 31. D) The early start time for D falls to 23.
19. _____Consider the Gantt chart shown below where the time scale is in minutes and all activities are performed on an early start basis. How much slack is available in The Great Hair Washing project?
A) 10 minutes B) 15 minutes C) 0 minutes D) 5 minutes
20. _____Use the Gantt chart and the activity list to determine when resource 5 is free.
Activity Resources Activity Resources
A 1 F 1
B 5 G 2
C 4 H 5
D 3 J 3
E 2 K 4
A) Between 0 and 15 B) Between 15 and 30 C) Between 30 and 45 D) Between 45 and 60
21. _____Use the Gantt chart and activity list to determine which resource is used the least.
Activity Resources Activity Resources
R 3, 5 M 1, 2
H 1 K 4
G 2, 5 J 3
F 4, 1 P 1
B 2 S 3, 4
T 4 W 3
A) Resource 4 B) Resource 2 C) Resource 1 D) Resource 3
22. _____A project has the activity duration and cost information indicated in the table where all times are in weeks. There is a penalty of $6,000 per week for every week the project extends beyond 25 weeks. What is the lowest total cost duration for completing this project?
Activity Predecessor Normal Time
Normal Cost Crash Time Crash Cost
A — 8 $12,000 5 $22,000
B A 12 $18,000 9 $32,000
C A 15 $22,000 9 $62,000
D B 3 $9,000 2 $18,000
E C 9 $15,000 5 $35,000
F E 7 $5,000 5 $8,000
G D 8 $13,000 6 $23,000
H A 12 $20,000 8 $32,000
J H 6 $45,000 4 $56,000
A) 34 weeks B) 36 weeks C) 40 weeks D) 43 weeks
23. _____Traditional, highly structured approaches to planning and managing projects are recognized as being less effective for ________ than Agile Project Management.
A) construction projects B) software development C) wedding planning D) university baccalaureate degrees
24. _____Which adjective is most appropriate for Agile Project Management? A) Iterative B) Sequential C) Linear D) Hirsute
25. _____Agile Project Management is well-suited for instances where A) Customer needs are well-defined. B) Time constraints exist. C) Customer needs change quickly. D) Budget constraints exist.
26. _____The waterfall project development process is well-suited for instances where: A) Requirements are allowed to float throughout the duration of the project. B) Customer needs change quickly. C) Time constraints exist. D) Budget constraints exist.
27. _____The sprint portion of the Agile Project Management process is targeted to last: A) 10 plus or minus 2 weeks. B) 7 plus or minus 1.5 weeks. C) 5 plus or minus 1.5 weeks. D) 2.5 plus or minus 1.5 weeks.
28. _____The customers articulate the necessary features of a software project through: A) Stories. B) Tasks. C) Requests for proposal. D) Bid rigging.
29. _____Which of these numerical (quantity) comparisons is CORRECT? A) Scrum meeting > Sprint B) Scrum master > Development team C) Sprint time box > Project duration D) Daily scrum duration < development=”” work=”” duration=””>
30. _____A project that must be finished by December 31st is: A) Time-constrained. B) Resource-constrained. C) Mix-constrained. D) Capacity-constrained.
31. _____The One Shovel Construction Company is hired by the City of Edmond to lay sewer pipe from the east end of town to the west end of town using their single shovel to dig the trench. While the crew would like to begin at both ends simultaneously and have a dramatic ceremony when both ends meet, they find themselves with a bit of a:
A) Time constraint. B) Resource constraint. C) Mixed constraint. D) Partial network.
32. _____The BEST method for establishing the existence of resource conflicts across project activities uses:
A) Gantt charts. B) Network diagrams. C) Pareto diagrams. D) Resource loading charts.
33. _____The amounts of individual resources that a schedule requires during specific time periods is referred to as the resource’s:
A) Loading. B) Capacity. C) Constraint. D) Drag.
34. _____Placing resources on a detailed schedule of tasks is referred to as: A) Placing. B) Rectifying. C) Loading. D) Dragging.
35. _____What information is usually provided on a resource-usage calendar? A) The tasks, the precedence requirements, and the money per unit time needed to reduce them. B) The personnel, their hourly wage or salary, and the number of hours per week they are available. C) The personnel, their responsibility for certain tasks, and the number of hours per week they are available. D) The tasks, the people and equipment available, and the ownership and reporting relationships among them.
36. ____A project consists of eleven activities (all times are given in days) and has worker requirements as indicated in the table. Assume that all six workers employed by this organization are generalists and are able to work on any of the tasks. What is the fastest the project can be completed?
Activity Activity time Workers Needed Predecessor
A 10 1
B 4 2
C 7 3 A
D 4 1 A
E 8 2 B
F 9 3 C,E
G 13 1 D
H 14 2 E,G
J 13 3 F
K 10 1 H, J
L 5 2 K
A) 54 days B) 56 days C) 58 days D) 60 days
37. _____The first step in the control cycle is: A) Setting a goal. B) Measuring progress. C) Comparing actual with planned performance. D) Taking action.
38. _____Project goal setting includes setting a baseline plan, which is predicated on: A) The progress measurement. B) An accurate work breakdown structure. C) The type of gap analysis the project team plans to use. D) The budget and schedule limitations.
39. _____Measurement mechanisms should include a clear definition of: A) The project baseline. B) The reporting relationships among members of the project team. C) What to measure. D) Trigger points.
40. _____A measurement process that determines the project goals and then the degree to which the actual performance lives up to these goals is:
A) A metric system. B) Goal-performance linkage. C) Five degrees of separation. D) Gap analysis.
41. _____If significant deviations from the project plan are detected, corrective action is taken and then:
A) The monitoring and control cycle begins anew. B) Project goals are adjusted to reflect current reality. C) The project stakeholders are informed of the budget or time difficulties. D) The critical chain is reviewed for task dependency.
42. _____Use the S-curve to choose the BEST statement about the project it describes. The horizontal axis is in weeks.
A) The total project costs in week 10 are less than budgeted. B) The total project costs in week 10 exceed the budgeted cost. C) The project cost more from weeks 25 through 30 than it did in weeks 10 through 15. D) The total amount spent on the project at the end of the 20th week is approximately $30,000.
43. _____Use the data to calculate the earned value for the project. All amounts are in thousands of dollars.
A) $38,500 B) $46,550 C) $56,750 D) $61,125
44. _____The project was over, so each worker went back to her usual assignment, taking with them the notebook they were issued when the project began. They never were sure whether the project had been successful or unsuccessful, but they could be positive that the project was terminated by:
A) Extinction. B) Addition. C) Integration. D) Starvation.
45. _____Termination by addition occurs when: A) Scope creep adds too many activities to the project that prevent it from being completed on time or within budget. B) The project is so successful that it becomes institutionalized. C) A new project is added to the organization and it commands all of the resources for the original project. D) New members join the project team once the project has begun and their skills are insufficient to successfully complete the project.
46. _____Once the project was successfully concluded, the team members returned to their roles in the organization, occasionally congregating at the water cooler to relive their halcyon days of yore. No one could argue that their project was:
A) Terminated by extinction. B) Terminated by addition. C) Terminated by integration. D) Terminated by starvation.
47. _____The departmental patriarch spent his last years at the university developing and promoting a Student Portfolio Project that required all departmental faculty to create integrated course projects and maintain a database of their students’ work. New graduates could refer their prospective employers to the Student Portfolio Project database to mine examples of their work. The patriarch retired, funding and effort dried up, and the project lingered in a few syllabi and on the department’s web site for a year or two but now any mention of it elicits either puzzled looks or wry grins from the remaining faculty. The patriarch’s Student Portfolio Project has officially been terminated by:
A) Extinction. B) Addition. C) Integration. D) Starvation.
48. _____Which two types of project termination are reserved for successful projects? A) Addition and integration B) Integration and starvation C) Starvation and extinction D) Extinction and addition
49. _____Which two types of project termination can occur for unsuccessful projects? A) Integration and starvation B) Starvation and extinction C) Extinction and addition D) Addition and integration
50. _____Research indicates that the number one reason for terminating research and development projects is:
A) That the project is fou

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