You work as a project manager for BlueWell Inc. You want to increase the overall duration of the project. If the management elects to use resource leveling, then what will happen to the project duration?
Correct Answer:A
Resource leveling usually increases the overall duration of the project because management restricts the amount of labor which can be utilized in a given time period. Resource leveling heuristics is a prioritization method that allocates inadequate resources to critical path activities first. It is a schedule network analysis technique useful to a schedule that has already been analyzed by the critical path method. It is used when shared or critical essential resources are only available at certain times, in limited quantities, or to keep resource usage at a constant level. It is a technique that resolves resource conflicts by delaying tasks within their slack allowances. Resource leveling is the process in which project teams come across problems when developing their project schedules. If a company has multiple projects running simultaneously that require the same resources, then problems can arise. It can often cause the critical path method to change. Answer option C is incorrect. New resources are not added as part of resource leveling.
Answer option D is incorrect. Labor remains the same in resource leveling, but their availability decreases.
Answer option B is incorrect. New resources are not added as part of resource leveling.
Amy is working on a project which is forty percent complete though it was scheduled to be fifty percent complete as of today. Management has asked Amy to report on the schedule variance for her project. If Amy's project has a BAC of $750,000 and she has spent
$485,000 to date, what is the schedule variance value?
Correct Answer:A
The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BA
C. Planned value is the percentage of where the project should be at this time multiplied by the BA
C. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target. In this example, EV = 40% of BAC = 300,000, and PV = 50% of BAC = 375,000 SV = 300,000 - 375,000 = - 75,000
Answer options C, B, and D are incorrect. These are not the correct values for the schedule variance.
CORRECT TEXT
Fill in the blank with the appropriate word. management sets the boundaries for the project and is the foundation on which the other project elements are built.
Solution:
Project scope is the effort that must be required to gather a client's plan, goals for space, purpose, properties, impact, and stage of eminence. Scope management sets the boundaries for the project and is the foundation on which the other project elements are built. Scope management helps to organize the work responsibilities and their requirements for successful completion. Managing the project scope is primarily concerned with defining and controlling what is and what is not included in the project.
Does this meet the goal?
Correct Answer:A
Your project team is executing the project plan and things are going well. Your team has reached its first milestone and is now in the second phase of the project. The project stakeholders have requested that you find a method to reduce the duration of the project. They will reward you and your project team with a 25 percent bonus of the project costs if
you can finish the project thirty days earlier than what was already planned. The stakeholders, however, will not approve any additional labor costs as part of the agreement. Which approach could you use to shorten the duration of the project?
Correct Answer:C
Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope. It does not add any additional labor but it can introduce project risks.
Answer option D is incorrect. Removing things from the project scope can reduce the project duration, but it will not satisfy the requirements the stakeholders have identified. Answer option A is incorrect. Resource leveling can actually increase the project duration. Answer option B is incorrect. Crashing can reduce the project duration but it increases the labor expense, something the stakeholders won't approve.
Gary is the project manager of the NGH project for his organization. He and the project team have created the initial WBS. Before Gary and the project team begin creating the activity list, Gary wants the project team to help him create a unique numbering system for the deliverables identified in the WBS. What numbering system can Gary and the project team apply to the WBS to identify the components of the WBS?
Correct Answer:A
The code of accounts is a hierarchical numbering system that uniquely identifies each deliverable of the WBS and segments the WBS by levels of numbering.
Answer option C is incorrect. Component numbering is not a valid term for project management.
Answer option B is incorrect. A chart of accounts is a financial tracking and assignment tool for common deliverables and activities an organization performs for its customers.
Answer option D is incorrect. Activity linkage sequencing is not a valid project management term.