2023 Question 1 Free slack is the amount of time a specific activity can be Question options accelerated without delaying the | Assignments Online

2023 Question 1 Free slack is the amount of time a specific activity can be Question options accelerated without delaying the | Assignments Online

Assignments Online 2023 Business Finance

  

Question 1

Free slack is the amount of time a specific activity can be:

Question options:

  

accelerated without delaying the   latest finish time of its immediately preceding activities.

 

accelerated without delaying the   latest start time of its immediately succeeding activities.

 

postponed without delaying the   earliest start time of its immediately preceding activities.

 

postponed without delaying the   earliest start time of its immediately succeeding activities.

 

Question 2

The project control process must occur regularly throughout the project and include all of the following EXCEPT:

Question options:

  

gathering data on actual   performance.

 

establishing regular reporting   meetings to compare actual to planned progress.

 

recording information on changes   to the project scope, schedule, and budget.

 

having a single inspection of the   project’s deliverables at the end of the project.

 

Question 3

People sometimes perform to expectations, their effort will expand to fill the whole number of scheduled days allotted, even if:

Question options:

  

the activity could have been   performed in a longer time.

 

part of the time for the task is   waiting time.

 

the activity could have been   performed in a shorter time.

 

the number of resources assigned   to the task is reduced.

 

Question 4

Calculate the earliest start for Task B if its predecessor, Task A, finishes on day 3 and the duration of Task B is 2 days.

Question options:

  

day 3

 

day 5

 

day 1

 

Cannot be calculated based upon   information given.

 

Question 5

Calculate the earliest start for Task D if one of its predecessors, Task A, finishes on day 3, its other predecessor, Task C, finishes on day 4, and the duration of Task D is 2 days.

Question options:

  

day 6

 

day 4

 

day 3

 

Cannot be calculated based upon   information given.

 

Question 6

With projects for which there is a high degree of uncertainty about the estimated durations for activities, it is possible to use three time estimates:

Question options:

  

an original estimate, a petrified   estimate, and a most likely estimate.

 

an optimized estimate, a primary   estimate, and a most likely estimate.

 

an opportunity estimate, a   pragmatic estimate, and a most likely estimate.

 

an optimistic estimate, a   pessimistic estimate, and a most likely estimate.

 

Question 7

The estimated types and quantities of resources required for an activity, together with the availability of those resources, will influence the:

Question options:

  

project scope document   description.

 

estimated duration for how long it   will take to perform the activity.

 

actual costs of work performed.

 

project’s acceptance criteria.

 

Question 8

The estimated duration for each activity must be the total elapsed time, the time:

Question options:

  

for the work to be done plus any   associated waiting time.

 

required for the work times the   number of resources assigned to the project.

 

for the task plus the planning   time for the project.

 

for the task plus the time to   review and accept the deliverable.

 

Question 9

The ES and EF times are determined by calculating forward, that is, by:

Question options:

  

adding all the times together for   the project.

 

working through the network   diagram from the beginning of the project to the end of the project.

 

calculating the optimistic and   pessimistic times for the project.

 

working through the network   diagram from the end of the project to the beginning of the project.

 

Question 10

Latest start time (LS) is the latest time by which a specific activity must be:

Question options:

  

finished in order for the entire   project to be started by its required completion time.

 

finished in order for the entire   project to be finished by its required completion time.

 

started in order for the entire   project to be finished by its required completion time.

 

started in order for the entire   project to be started by its required completion time.

 

Question 11

Throughout the performance of the project, some activities will take longer than their estimated duration, others will be done in less time than their estimated duration, and

Question options:

  

others are to be done by two   project teams.

 

many will take no time to   complete.

 

a few may conform to the estimated   duration exactly.

 

many will not be completed.

 

Question 12

If an organization or subcontractor has performed similar projects in the past and has kept records of how long specific activities actually took, these historical data:

Question options:

  

can be used as a guide in   estimating the durations of similar activities for future projects.

 

have no value for the current   project.

 

should be shared with the customer   after the contract is signed to show that the contractor can complete the   project.

 

should be stored in files.

 

Question 13

It is important to know what types of resources are available, in what quantities, and during what time periods to determine:

Question options:

  

that the project team will be   larger than necessary to complete the project.

 

that the project will be less   expensive than estimated.

 

how to enter resources into a   project management information system.

 

if the right types of resources   will be available in sufficient quantities during the time periods that the   project requires.

 

Question 14

With respect to the project schedule, changes can result in any of the following EXCEPT:

Question options:

  

changes to estimated durations for   specific activities.

 

a new required completion time for   the project.

 

the addition or deletion of   activities.

 

the initial planning and   sequencing of activities.

 

Question 15

Total slack is calculated for each of the activities by finding the difference between the:

Question options:

  

ES of the activity and the LF of   the activity or the difference between the EF and LS of the activity.

 

ES of the activity and the LF of   the activity or the difference between the ES and LF of the activity.

 

EF of the activity and the LS of   the activity or the difference between the ES and LF of the activity.

 

EF of the activity and the LF of   the activity or the difference between the ES and LS of the activity.

 

Question 16

Calculate the latest finish for Task D if one of its successors, Task F, has a latest start on day 9, its other successor, Task E, has a latest start on day 10, and the duration of Task D is 2 days.

Question options:

  

day 9

 

day 10

 

day 12

 

Cannot be calculated based upon   information given.

 

Question 17

Latest start time is calculated by:

Question options:

  

subtracting the activity’s   estimated duration from the activity’s succeeding activity’s latest finish   time: LS = LF succeeding activity – Estimated Duration.

 

adding the activity’s estimated   duration to the predecessor of the activity’s latest start time: LS = LS   predecessor + Estimated Duration.

 

adding the activity’s estimated   duration to the activity’s latest finish time: LS = LF + Estimated Duration.

 

subtracting the activity’s   estimated duration from the activity’s latest finish time: LS = LF –   Estimated Duration.

 

Question 18

The total completion time is 25 days. Task A is planned to take seven days. Task B is planned to take five days. Task C is planned to take eight days. The tasks have a serial relationship. How much slack does the project have?

Question options:

  

Negative 5 days slack

 

Positive 3 days slack

 

Positive 17 days slack

 

Positive 5 days slack

 

Question 19

The facilitator for the Scrum development process during a sprint whose primary job is to take actions to remove or reduce any obstacles, barriers, or constraints that are impeding progress of the development team toward accomplishing their work tasks and that may negatively impact the successful production and demonstration of a deliverable working product increment by the end of the sprint time is the:

Question options:

  

product owner.

 

scrum master.

 

project manager.

 

sprint timer.

 

Question 20

Calculate the latest start for Task D if one of its successors, Task F, has a latest start on day 9, its other successor, Task E, has a latest start on day 10, and the duration of Task D is 2 days.

Question options:

  

day 7

 

Cannot be calculated based upon   information given.

 

day 12

 

day 8

 

Section 2

   

Question 21

The start of noncritical activities are delayed beyond their earliest start times (but not beyond their latest start times) in order to:

Question options:

  

maintain a uniform level of   required resources.

 

schedule with a resource   constraint.

 

level the costs of the project.

 

schedule with a technical   constraint.

 

Question 22

At the beginning of the project, it may not be possible to estimate the costs for all activities with a level of confidence regarding their accuracy. This is especially true for:

Question options:

  

projects with activities that are   serially related.

 

projects that are similar to ones   completed by the organization before.

 

projects with a short term.

 

longer-term projects.

 

Question 23

The statement, “Network diagrams illustrate the technical constraints among activities,” means the activities are constrained because:

Question options:

  

the activities use different   resources to be completed.

 

each of the activities is   independent from the other activities.

 

some activities use the same   resources that may not be available.

 

one activity cannot be started   until the predecessors are finished.

 

Question 24

When the budgets for all the work packages are summed:

Question options:

  

if the total is too low then extra   non-project expenses should be added.

 

if the total is too high then the   amounts should be force-fitted into the customer’s budget.

 

they cannot exceed the total   project budgeted cost.

 

they should exceed the amount of   funds available.

 

Question 25

Determining the earned value involves collecting data on the percent complete for each work package and then converting this percentage to a dollar amount by multiplying the __________ of the work package by the percent complete.

Question options:

  

cumulative earned value (CEV)

 

cumulative actual cost (CAC)

 

total budgeted cost (TBC)

 

cumulative budgeted cost (CBC)

 

Question 26

Facilities costs in the project costs estimate are for:

Question options:

  

general facilities for the project   organization.

 

storage of materials even if not   for the project.

 

special facilities or additional   space for the project team.

 

special facilities or additional   space for the organization where other projects will be in progress.

 

Question 27

A cost is determined for each period, based on when the activities that make up the work package are scheduled to be performed, to create:

Question options:

  

an example budget.

 

the time-phased budget.

 

an adjusted budget.

 

the actual costs of the project.

 

Question 28

The __________ is the time-phased baseline budget that will be used to analyze the cost performance of the project.

Question options:

  

total budgeted cost (TBC)

 

cumulative actual cost (CAC)

 

cumulative earned value (CEV)

 

cumulative budgeted cost (CBC)

 

Question 29

Resource utilization charts based on each activity’s earliest start time are said to be based:

Question options:

  

an as-late-as-possible (ALAP)   schedule.

 

on a limited schedule plan.

 

on an as-soon-as-possible (ASAP)   schedule.

 

on availability times.

 

Question 30

Allocating total project costs for the various elements to the appropriate work packages will establish:

Question options:

  

how to apply resources to the work   package.

 

a total budgeted cost (TBC) for   each work package.

 

the committed costs for the work   package.

 

the anticipated expense for the   work package.

 

Question 31

The project cost estimate is allocated to the:

Question options:

  

various work packages in the   project work breakdown structure.

 

committed costs in the project.

 

stakeholders.

 

resources in the project.

 

Question 32

The __________ is the amount that was budgeted to accomplish the work that was scheduled to be performed up to that point in time.

Question options:

  

cumulative earned value (CEV)

 

cumulative actual cost (CAC)

 

total budgeted cost (TBC)

 

cumulative budgeted cost (CBC)

 

Question 33

Why are activities drawn in a serial relationship in a network diagram?

Question options:

  

The order of completion doesn’t   matter.

 

The activities use different   resources.

 

From a technical standpoint, the   activities must be performed in that sequence.

 

The activities are independent of   each other.

 

Question 34

To keep track of __________, it’s necessary to set up a system to collect, on a regular and timely basis, data on funds actually expended.

Question options:

  

budgeted cost of work scheduled

 

planned cost of the project

 

actual cost on a project

 

budgeted cost of work performed

 

Question 35

The total project cost is often estimated during the __________ phase of the project or when the project charter or a proposal is prepared.

Question options:

  

planning

 

performing

 

initiating

 

closing

 

Question 36

It may be easier to estimate the costs for __________, but as the project progresses, the project team can progressively elaborate the estimated costs as more information is known or becomes clear to allow for more accurate estimated costs.

Question options:

  

activities with long durations

 

activities near the end of the   project

 

near-term activities

 

new activities with new procedures

 

Question 37

Equipment costs in the project costs estimate are for equipment:

Question options:

  

that is the latest upgrade, even   if not needed for the project.

 

needed by others in the   organization that may not be assigned to the project.

 

that the organization wants to   have.

 

that must be purchased as part of   the project.

 

Question 38

Travel costs in the project costs estimate are for:

Question options:

  

travel costs for local meetings.

 

travel for conferences that may   not be related to the project.

 

travel (other than local travel)   required during the project.

 

all travel by the organization.

 

Question 39

Costs are __________ when an item is ordered even though actual payment may take place at some later time.

Question options:

  

committed

 

discharged

 

postponed

 

restrained

 

Question 40

The __________ for the entire project or each work package provides a baseline against which actual cost and work performance can be compared at any time during the project.

Question options:

  

cumulative earned value (CEV)

 

cumulative actual cost (CAC)

 

total budgeted cost (TBC)

 

cumulative budgeted cost (CBC)  

Question 1

Free slack is the amount of time a specific activity can be:

Question options:

  

accelerated without delaying the   latest finish time of its immediately preceding activities.

 

accelerated without delaying the   latest start time of its immediately succeeding activities.

 

postponed without delaying the   earliest start time of its immediately preceding activities.

 

postponed without delaying the   earliest start time of its immediately succeeding activities.

 

Question 2

The project control process must occur regularly throughout the project and include all of the following EXCEPT:

Question options:

  

gathering data on actual   performance.

 

establishing regular reporting   meetings to compare actual to planned progress.

 

recording information on changes   to the project scope, schedule, and budget.

 

having a single inspection of the   project’s deliverables at the end of the project.

 

Question 3

People sometimes perform to expectations, their effort will expand to fill the whole number of scheduled days allotted, even if:

Question options:

  

the activity could have been   performed in a longer time.

 

part of the time for the task is   waiting time.

 

the activity could have been   performed in a shorter time.

 

the number of resources assigned   to the task is reduced.

 

Question 4

Calculate the earliest start for Task B if its predecessor, Task A, finishes on day 3 and the duration of Task B is 2 days.

Question options:

  

day 3

 

day 5

 

day 1

 

Cannot be calculated based upon   information given.

 

Question 5

Calculate the earliest start for Task D if one of its predecessors, Task A, finishes on day 3, its other predecessor, Task C, finishes on day 4, and the duration of Task D is 2 days.

Question options:

  

day 6

 

day 4

 

day 3

 

Cannot be calculated based upon   information given.

 

Question 6

With projects for which there is a high degree of uncertainty about the estimated durations for activities, it is possible to use three time estimates:

Question options:

  

an original estimate, a petrified   estimate, and a most likely estimate.

 

an optimized estimate, a primary   estimate, and a most likely estimate.

 

an opportunity estimate, a   pragmatic estimate, and a most likely estimate.

 

an optimistic estimate, a   pessimistic estimate, and a most likely estimate.

 

Question 7

The estimated types and quantities of resources required for an activity, together with the availability of those resources, will influence the:

Question options:

  

project scope document   description.

 

estimated duration for how long it   will take to perform the activity.

 

actual costs of work performed.

 

project’s acceptance criteria.

 

Question 8

The estimated duration for each activity must be the total elapsed time, the time:

Question options:

  

for the work to be done plus any   associated waiting time.

 

required for the work times the   number of resources assigned to the project.

 

for the task plus the planning   time for the project.

 

for the task plus the time to   review and accept the deliverable.

 

Question 9

The ES and EF times are determined by calculating forward, that is, by:

Question options:

  

adding all the times together for   the project.

 

working through the network   diagram from the beginning of the project to the end of the project.

 

calculating the optimistic and   pessimistic times for the project.

 

working through the network   diagram from the end of the project to the beginning of the project.

 

Question 10

Latest start time (LS) is the latest time by which a specific activity must be:

Question options:

  

finished in order for the entire   project to be started by its required completion time.

 

finished in order for the entire   project to be finished by its required completion time.

 

started in order for the entire   project to be finished by its required completion time.

 

started in order for the entire   project to be started by its required completion time.

 

Question 11

Throughout the performance of the project, some activities will take longer than their estimated duration, others will be done in less time than their estimated duration, and

Question options:

  

others are to be done by two   project teams.

 

many will take no time to   complete.

 

a few may conform to the estimated   duration exactly.

 

many will not be completed.

 

Question 12

If an organization or subcontractor has performed similar projects in the past and has kept records of how long specific activities actually took, these historical data:

Question options:

  

can be used as a guide in   estimating the durations of similar activities for future projects.

 

have no value for the current   project.

 

should be shared with the customer   after the contract is signed to show that the contractor can complete the   project.

 

should be stored in files.

 

Question 13

It is important to know what types of resources are available, in what quantities, and during what time periods to determine:

Question options:

  

that the project team will be   larger than necessary to complete the project.

 

that the project will be less   expensive than estimated.

 

how to enter resources into a   project management information system.

 

if the right types of resources   will be available in sufficient quantities during the time periods that the   project requires.

 

Question 14

With respect to the project schedule, changes can result in any of the following EXCEPT:

Question options:

  

changes to estimated durations for   specific activities.

 

a new required completion time for   the project.

 

the addition or deletion of   activities.

 

the initial planning and   sequencing of activities.

 

Question 15

Total slack is calculated for each of the activities by finding the difference between the:

Question options:

  

ES of the activity and the LF of   the activity or the difference between the EF and LS of the activity.

 

ES of the activity and the LF of   the activity or the difference between the ES and LF of the activity.

 

EF of the activity and the LS of   the activity or the difference between the ES and LF of the activity.

 

EF of the activity and the LF of   the activity or the difference between the ES and LS of the activity.

 

Question 16

Calculate the latest finish for Task D if one of its successors, Task F, has a latest start on day 9, its other successor, Task E, has a latest start on day 10, and the duration of Task D is 2 days.

Question options:

  

day 9

 

day 10

 

day 12

 

Cannot be calculated based upon   information given.

 

Question 17

Latest start time is calculated by:

Question options:

  

subtracting the activity’s   estimated duration from the activity’s succeeding activity’s latest finish   time: LS = LF succeeding activity – Estimated Duration.

 

adding the activity’s estimated   duration to the predecessor of the activity’s latest start time: LS = LS   predecessor + Estimated Duration.

 

adding the activity’s estimated   duration to the activity’s latest finish time: LS = LF + Estimated Duration.

 

subtracting the activity’s   estimated duration from the activity’s latest finish time: LS = LF –   Estimated Duration.

 

Question 18

The total completion time is 25 days. Task A is planned to take seven days. Task B is planned to take five days. Task C is planned to take eight days. The tasks have a serial relationship. How much slack does the project have?

Question options:

  

Negative 5 days slack

 

Positive 3 days slack

 

Positive 17 days slack

 

Positive 5 days slack

 

Question 19

The facilitator for the Scrum development process during a sprint whose primary job is to take actions to remove or reduce any obstacles, barriers, or constraints that are impeding progress of the development team toward accomplishing their work tasks and that may negatively impact the successful production and demonstration of a deliverable working product increment by the end of the sprint time is the:

Question options:

  

product owner.

 

scrum master.

 

project manager.

 

sprint timer.

 

Question 20

Calculate the latest start for Task D if one of its successors, Task F, has a latest start on day 9, its other successor, Task E, has a latest start on day 10, and the duration of Task D is 2 days.

Question options:

  

day 7

 

Cannot be calculated based upon   information given.

 

day 12

 

day 8

 

Section 2

   

Question 21

The start of noncritical activities are delayed beyond their earliest start times (but not beyond their latest start times) in order to:

Question options:

  

maintain a uniform level of   required resources.

 

schedule with a resource   constraint.

 

level the costs of the project.

 

schedule with a technical   constraint.

 

Question 22

At the beginning of the project, it may not be possible to estimate the costs for all activities with a level of confidence regarding their accuracy. This is especially true for:

Question options:

  

projects with activities that are   serially related.

 

projects that are similar to ones   completed by the organization before.

 

projects with a short term.

 

longer-term projects.

 

Question 23

The statement, “Network diagrams illustrate the technical constraints among activities,” means the activities are constrained because:

Question options:

  

the activities use different   resources to be completed.

 

each of the activities is   independent from the other activities.

 

some activities use the same   resources that may not be available.

 

one activity cannot be started   until the predecessors are finished.

 

Question 24

When the budgets for all the work packages are summed:

Question options:

  

if the total is too low then extra   non-project expenses should be added.

 

if the total is too high then the   amounts should be force-fitted into the customer’s budget.

 

they cannot exceed the total   project budgeted cost.

 

they should exceed the amount of   funds available.

 

Question 25

Determining the earned value involves collecting data on the percent complete for each work package and then converting this percentage to a dollar amount by multiplying the __________ of the work package by the percent complete.

Question options:

  

cumulative earned value (CEV)

 

cumulative actual cost (CAC)

 

total budgeted cost (TBC)

 

cumulative budgeted cost (CBC)

 

Question 26

Facilities costs in the project costs estimate are for:

Question options:

  

general facilities for the project   organization.

 

storage of materials even if not   for the project.

 

special facilities or additional   space for the project team.

 

special facilities or additional   space for the organization where other projects will be in progress.

 

Question 27

A cost is determined for each period, based on when the activities that make up the work package are scheduled to be performed, to create:

Question options:

  

an example budget.

 

the time-phased budget.

 

an adjusted budget.

 

the actual costs of the project.

 

Question 28

The __________ is the time-phased baseline budget that will be used to analyze the cost performance of the project.

Question options:

  

total budgeted cost (TBC)

 

cumulative actual cost (CAC)

 

cumulative earned value (CEV)

 

cumulative budgeted cost (CBC)

 

Question 29

Resource utilization charts based on each activity’s earliest start time are said to be based:

Question options:

  

an as-late-as-possible (ALAP)   schedule.

 

on a limited schedule plan.

 

on an as-soon-as-possible (ASAP)   schedule.

 

on availability times.

 

Question 30

Allocating total project costs for the various elements to the appropriate work packages will establish:

Question options:

  

how to apply resources to the work   package.

 

a total budgeted cost (TBC) for   each work package.

 

the committed costs for the work   package.

 

the anticipated expense for the   work package.

 

Question 31

The project cost estimate is allocated to the:

Question options:

  

various work packages in the   project work breakdown structure.

 

committed costs in the project.

 

stakeholders.

 

resources in the project.

 

Question 32

The __________ is the amount that was budgeted to accomplish the work that was scheduled to be performed up to that point in time.

Question options:

  

cumulative earned value (CEV)

 

cumulative actual cost (CAC)

 

total budgeted cost (TBC)

 

cumulative budgeted cost (CBC)

 

Question 33

Why are activities drawn in a serial relationship in a network diagram?

Question options:

  

The order of completion doesn’t   matter.

 

The activities use different   resources.

 

From a technical standpoint, the   activities must be performed in that sequence.

 

The activities are independent of   each other.

 

Question 34

To keep track of __________, it’s necessary to set up a system to collect, on a regular and timely basis, data on funds actually expended.

Question options:

  

budgeted cost of work scheduled

 

planned cost of the project

 

actual cost on a project

 

budgeted cost of work performed

 

Question 35

The total project cost is often estimated during the __________ phase of the project or when the project charter or a proposal is prepared.

Question options:

  

planning

 

performing

 

initiating

 

closing

 

Question 36

It may be easier to estimate the costs for __________, but as the project progresses, the project team can progressively elaborate the estimated costs as more information is known or becomes clear to allow for more accurate estimated costs.

Question options:

  

activities with long durations

 

activities near the end of the   project

 

near-term activities

 

new activities with new procedures

 

Question 37

Equipment costs in the project costs estimate are for equipment:

Question options:

  

that is the latest upgrade, even   if not needed for the project.

 

needed by others in the   organization that may not be assigned to the project.

 

that the organization wants to   have.

 

that must be purchased as part of   the project.

 

Question 38

Travel costs in the project costs estimate are for:

Question options:

  

travel costs for local meetings.

 

travel for conferences that may   not be related to the project.

 

travel (other than local travel)   required during the project.

 

all travel by the organization.

 

Question 39

Costs are __________ when an item is ordered even though actual payment may take place at some later time.

Question options:

  

committed

 

discharged

 

postponed

 

restrained

 

Question 40

The __________ for the entire project or each work package provides a baseline against which actual cost and work performance can be compared at any time during the project.

Question options:

  

cumulative earned value (CEV)

 

cumulative actual cost (CAC)

 

total budgeted cost (TBC)

 

cumulative budgeted cost (CBC)

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