A Network Diagram is a visual representation of the precedence relationships among the tasks required to complete a project.
True
A task might be completed either before or after its non-immediate predecessor
False
Critical path is...
The longest chain of tasks required to complete a project
Drawing the critical path is necessary to reduce the time required to complete the project
True
Total slack of an activity can be estimated by subtracting the early start time of a task from the late finish time of the immediate predecessor
True
Cost Estimation is usually done once Project Definition is complete
False
Expert Opinion
Relies on intuition and previous experience
Parametric Analysis
Calculated using regression analysis over historical data
Analogy
Is a reliable and easy to use method as the characteristics of the project being estimated is similar to previous projects being compared
Cost engineering
Tends to be the most accurate, but time consuming method
GS&A stands for
General, Sales, and Administrative expenses
What is a useful way to reduce cost escalation
Phased Project Planning
What is a control account
A subdivision of the total budget when WBS is complex, the budget can be subdivided according to task groups.
Which leadership style is more effective for project management?
Depends on the characteristics of the project and the composition of the team
Delegating Style: Leader identifies problems or goal and delegates decision-making and responsibility to team mebers
High ability, High motivation
Participative Style: Leader facilitating, supporting, and communicating with team members.
High ability. low motivation
Coaching Style: Provide supervision, orientation, and training.
Low ability, high motivation
This is a very challenging scenario. No recommendations provided.
low ability, low motivation
According to empirical studies, what is the most important determinant of successful Project Management?
Group cohesiveness
What is the most important difference between managing a new team or managing an ongoing team?
In existing teams, the focus should be uncovering ongoing issues, accept them, and work toward solutions. In new teams, the focus should be discussing priorities, expectations, and objectives to reach common understanding and guidelines.
Please select the statements that are true from the following list:
Project managers are often frustrated when they are responsible for the outcome of the project, but they have limited authority to satisfy the conflicting demands of numerous stakeholders
All correct