PROJ592 Proj Cost Schedule Control Week 6 Quizzes Versions

PROJ 592 Project Cost and Schedule Control PROJ 592 Week 6 (Version 1) 1. Question : (TCO B) Crashing Problem Using the network below and the additional information provided, find: (a) The crash cost per day per activity? (b) Which activities should be crashed to meet a project deadline of 12 days at minimum cost? (c) What is the extra cost to crash the project? Activity Normal Time Crash Time Normal Cost Crash Cost A 5 3 $300 $600 B 3 2 $250 $450 C 6 4 $400 $500 D 5 3 $150 $400 2. Question : (TCO F) We have discussed at length the Earned Value Management process. I am sure all of you have used the traditional process of assessing projects where we compare actual dollars spent to the amount we had planned to spend. This was quick and easy, but it has its shortcomings, and the Earned Value Management process is said to be better. (a) Why is this traditional approach different from using earned value when assessing project performance? (b) Describe the EVM process used to determine how far our project is ahead of or behind schedule. 3. Question : (TCO E) The following information is extracted from a project to develop a state of the art alternative power energy storage device: Activity Duration Predecessors Resources A 4 days -- 1 Research Engineer B 3 days A 1 Marketing Specialist C 5 days A 1 Design Engineer D 3 days A 1 Design Engineer E 3 days B 1 Prototype Builder F 2 days D 1 Test Engineer The Owner has stipulated that in order to provide continuity throughout the project, the same individual must handle all activities under his or her discipline. Activities on this project cannot be split. (a) Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), which resources(s) are involved, and the quantity required. (b) Given the owner's stipulation regarding project continuity, and the need to minimize project duration, how can this conflict be resolved? What will be the effect on the project duration? 4. Question : (TCO F) The following data were obtained from an Information Systems project to upgrade and expand a Local Area Network: Activity Duration Predecessors Task Budget A 3 Days --- $4,920 B 6 Days --- $7,680 C 3 Days A $15,140 D 2 Days B $4,980 E 3 Days B $5,630 F 2 Days C, D $2,270 At the end of Day 7, the status of the project is as follows: Activity % Complete Actual Cost A 100% $4,200 B 100% $8,740 C ...

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