Project Management Question 1 Which attributes best characterize an “as late as possible” schedule?. 1 answer below »
Project Management
Question 1
Which attributes best characterize an "as late as possible" schedule?
Constrained by time so we can compromise costs early on to provide slack time
Benefits time, but has a downside on costs
Constrained by costs and need to compromise time
Incurs the commitment of costs and resources immediately
Question 2
Which of the following is a downside of crashing a project activity?
Less slack in the project which opens the door to more risk
Shorter activities
Less risk associated with the project because now it's more likely to meet the deadline
Overall duration of the project is shortened
A new critical path might emerge
Question 3
Which of the following are challenges that firms face when estimating the duration of each task in a project? (Select all that apply)
Anchoring Bias
Student Syndrome
Access to Resources
Parkinson's Law
Overconfidence
Question 4
True or false: An action plan, as described by Drucker, is a commitment.
True
False
Question 5
Identify the elements of a project plan. (Select all that apply)
Identify tasks, dependencies, and schedule
Plan resources
Clarify trade-offs and decision-making principles
Identify project scope
Share project plan with stakeholders Correct 0.20 Sharing the project plan with stakeholders is not an element of project planning.
Question 6
Which of the following are benefits of using a Work Breakdown Structure to illustrate the activities involved in a project? (Select all that apply)
The brainstorming process involved in creating it can provide insights into the nature of the project
It visually depicts all the dependencies between activities
It may highlight repetitive areas of the project
It can help in identifying tasks and activities that may have been overlooked
It breaks down the project scope visually
Question 7
When producing a movie, the post production can only begin once the filming has been completed. Which precedence relationship best describes the relationship between "Onsite Filming" and "Post Production"?
Start-to-Start
Finish-to-Start
Finish-to-Finish
Start-to-Finish
Answers
Q1.) Constrained by costs and need to compromise time
An "as late as possible" schedule" is typically constrained by costs, but can compromise time
Q2.) Less slack in the project which opens the door to more risk
While this is a downside, a risk that may be needed in order to complete the project on time
Q3.) Anchoring
Conversations may anchor someone to believing that a task should take a certain period of time
Student Syndrome
If you give someone a specified amount of time to complete a task, procrastination will occur and the individual will not start working on a task until the end of the allotted time
Parkinson's Law
It is important to make sure there is enough work to fill up the entire allotted time to complete a task
Overconfidence
An individual will most likely be overconfident about his/her ability to complete a task
Q4.)False
According to Drucker (2006), a plan is: (1) Statement of intentions ? Commitment, (2) Not a straitjacket, (3) Should be revised often, (4) Should anticipate the need to be flexible, (5) Needs a system for checking the results against expectations, and (6) Becomes the basis for executive time management.
Q5.) Identify tasks, dependencies, and schedule
Identifying tasks, dependencies, and schedule is fundamental to the planning stage. Other elements of project planning are: identifying tasks, dependencies, schedule, planning resources, identifying trade-offs, and analyzing risks
Plan resources
Planning resources is fundamental to the planning stage. Other elements of project planning are: identifying tasks, dependencies, schedule, planning resources, identifying trade-offs, and analyzing risks.
Clarify trade-offs and decision-making principles
Clarifying trade-offs and decision-making principles is fundamental to the planning stage. Other elements of project planning are: identifying tasks, dependencies, schedule, planning resources, identifying trade-offs, and analyzing risks
Identify project scope
Project scoping is fundamental to the planning stage. Other elements of project planning are: identifying tasks, dependencies, schedule, planning resources, identifying trade-offs, and analyzing risks
Q6.)The brainstorming process involved in creating it can provide insights into the nature of the project
The process of organizing the hierarchy of the project and listing all of the tasks required to complete it can provide crucial insight into aspects of the project's nature that might not be understood otherwise
It may highlight repetitive areas of the project
Comprehensively listing all of the activities and organizing them by hierarchy can reveal activities and tasks that are listed in multiple areas
It can help in identifying tasks and activities that may have been overlooked
By methodically listing out all the subordinate tasks and activities required to accomplish high level tasks, previously unidentified activities can be identified
It breaks down the project scope visually
A WBS depicts all the tasks and activities that must be accomplished in order to achieve the objectives outlined in the project scope
Q7.)Finish-to-Star
Only when the activity "Onsite Filming" is finished can the "Post Production" activity start. This is captured by a Finish-to-Start relationship
