1 1. You have a scheduled activity that can be delayed without delaying the early start date of any subsequent activities. This is an example of? A. Free Slack B. Project Slack C. Total Slack D. Project Lag 12. A task's optimistic estimate is 10 days, and the pessimistic estimate is 40 days. What is the standard deviation of the estimate? A. 4 B. 5 C. 6.7 D. 7.5 13. A project has seven activities as shown below. The customer has asked that you reduce activity D by 2 weeks. What impact does this have on the schedule? Activity Predecessor Duration Start A B C A D B,C 11 E C 10 F DE G End F, G A. None. It is not on the critical path B. It will reduce the schedule like two weeks C. It will only work if you also reduce activity B by two weeks D. It will only work if you also reduce activity F by two weeks 14. For a project, the following earned value data have been assessed: ACWP = $4,000,000 CV=$-500,000 SPI=1. 12 BAC=$9,650,000 What is the earned value of the project? A. $3,000,000 B. $3,500,000 C. $4,480,000 D. $5,650,0005. If a risk event has a 90 percent chance of occurring, and the consequences will be US$ 10,000, what does US$ 9,000 represent? A. Risk value B. Present value C. Expected monetary value D. Contingency budget 6. A project manager is quantifying risk for her project. Several of her experts are offsite but wish to be included. How can this be done? A. Do a Monte Carlo analysis using the Internet as a tool B. Apply the critical path method C. Determine options for recommended corrective action D. Apply the Delphi Technique 7. During which risk management process is a determination to transfer a risk made? A. Identify Risks B. Perform Quantitative Risk Analysis C. Plan Risk Response D. Monitor and Control Risks 8. Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called? A. Risk Management Plan. B. List of risks. C. Monte Carlo diagram. D. Risk Breakdown Structure 9. You identified a technical risk in your project and assigned a contingency for that. Planning contingency reserve is a part of which risk response strategy? A. Risk mitigation B. Risk avoidance C. Risk transfer D. Risk acceptance 10. Your project is experiencing resource constraints at certain times in the project timeline, requiring you to adjust start and finish dates on the schedule. What tool is best to use in this situation? A. Resource leveling B. Feeding buffer C. Critical Path method D. Resource smoothing15. You monitored figures on cost and planned/earned value for each project week until the data date at the end of the sixth week. What is the status of this project on this date? Project Week Actual Costs Earned Value Planned Value $65,000 $61,000 $67,000 $85,000 $79,000 $89,000 $100,000 $102,000 $1 10,000 $125,000 $124,000 $121,000 $135,000 $133,000 $139,000 $125,000 $120,000 $131,000 A. The project is ahead of schedule and over budget. B. The project is ahead of schedule and under budget. C. The project is behind schedule and over budget. D. The project is behind schedule and under budget.PART II. Short Answers 1. You are given the following data about the project tasks, network, and crash times/cost. Normal Crash Crash Activity Immediate Normal ID Predecessor(s) Duration Direct Cost Duration Direct (days) (HK$) (days) Cost (HK$) A 120 12000 100 14000 B 20 1800 15 2800 C B 40 16000 30 22000 D C 30 1400 20 2000 E D.F 50 3600 40 4800 F B 60 13500 45 18000 Overhead (indirect cost) for the project is $320/day. a) Develop the AON Network for the project and identify the critical path. What are the expected duration and total cost of the project? (12 points) b) Crash the project and find the project schedule with the lowest total cost (direct + indirect cost). Show your steps. What is the total cost and duration after crashing? (18 points)