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Tom is the project manager for the ABC Construction Company. As part of the project scheduling for the construction of a new office building, he has allotted time for the inspectors of the building structure, as well as electrical, plumbing, and safety into the project's schedule. These inspectors can be considered what type of dependency in the project?
An external dependency is any nonproject activity that is external to the project but has a direct
impact on the project activities. An external
dependency may be an inspector or any agency that may have to give prior approval before the
project can move forward.
Answer option B is incorrect. Required dependency is not a valid term to describe a dependency.
Answer option A is incorrect. Mandatory dependencies describe the required order in which the
project work must take place - such as
foundation before framing, or the operating system installed before the application may be
installed.
Answer option C is incorrect. Discretionary dependencies describe the optional order of the project
work, such as painting the walls before
installing the carpet.
Ned is the project manager of the HYQ Project. In Ned's project, the management has requested that he enforce resource leveling so that the maximum amount of hours in the project per worker will not exceed 25 hours per week. Ned's pay is based on how quickly he can complete the project work. What must Ned do to accommodate the change in the resource allotment if he has to finish the project on time?
The change in the amount of labor Ned is allowed to use will cause his project schedule to increase
thereby affecting the project end date.
Crashing the project will allow Ned to add more resources while still keeping each resource to a
maximum of 25 hours per week.
Answer option D is incorrect. Ned likely does not have control over descoping decisions.
Answer option C is incorrect. Reducing the project labor is what resource leveling does.
Answer option B is incorrect. Adding risk mitigation won't necessarily help Ned finish the project
faster.
You are the project manager for your organization. Your project is doing fine on time and cost, but management wants to address the project performance for future accomplishment. Management has asked you to begin reporting and forecasting your project's health based on a moving average, extrapolation, trend estimation, and growth curve. What type of forecasting method is management asking you to use?
These are examples of a time series method for forecasting project performance. Another method
that fits with the time series method of
forecasting is earned value management.
Forecasting is the process of estimating or predicting in unknown situations. Forecasting is about
predicting the future as accurately as
possible with the help of all the information available, including historical data and knowledge of any
future events that might impact
forecasts. The forecasting methods are categorized as follows:
Time series method: It uses historical data as the basis for estimating future outcomes.
Causal/econometric method: This forecasting method is based on the assumption that it is possible
to identify some factors that might
influence the variable that is being forecasted. If the causes are understood, projections of the
influencing variables can be made and
used in the forecast.
Judgmental method: Judgmental forecasting methods incorporate intuitive judgments, opinions, and
subjective probability estimates.
Other methods: Other methods may include probabilistic forecasting, simulation, and ensemble
forecasting.
Answer option B is incorrect. Causal/econometric methods do not use the moving average, but
models such as linear regression and non-
linear regression.
Answer option A is incorrect. Judgmental methods for forecasting are based on intuition, opinions,
and probability estimates.
Answer option D is incorrect. The estimate at completion method is an earned value management
formula, which is part of the time series
method for reporting and forecasting performance.
You are the project manager for your organization. You have recorded the following duration estimates for an activity in your project: optimistic 20, most likely 45, pessimistic 90. What time will you record for this activity?
This is an example of a three-point estimate. A three-point estimate records the optimistic, most likely, and the pessimistic duration, and then records an average for the predicted duration Three-point estimate is a way to enhance the accuracy of activity duration estimates. This concept is originated with the Program Evaluation and Review Technique (PERT). PERT charts the following three estimates:
Most likely (TM): The duration of activity based on realistic factors such as resources assigned, interruptions, etc. Optimistic (TO): The activity duration based on the best-case scenario Pessimistic (TP): The activity duration based on the worst-case scenario The expected (TE) activity duration is a weighted average of these three estimates: TE = (TO + 4TM + TP) / 6 Duration estimates based on the above equations (sometimes simple average of the three estimates is also used) provide more accuracy. It can be calculated as follows: TE = ( 20 + 45*4 + 90) / 6 = 290/6 =48 Answer options B, C, and D are incorrect. These are not the valid answers for this question.
You are the project manager of the GHY project. Your project has a BAC of $675,000 and is forty percent complete though you were supposed to be forty-five percent complete. Due to some errors early in the project, you had to spend $278,000 of your project's budget to reach this point. Management is asking for a variance report. What part of your project has the largest variance?
Your schedule variance is -$33,750. You can find this by using the formula earned value-
minus planned.
Answer option C is incorrect. Cost is not the largest variance in the project.
Answer option A is incorrect. Cost is not the largest variance in the project (it is -$8,000).
Answer option D is incorrect. -$20,000 is the variance at completion for the project.
