Which of the following is an example of the simplest fixed-price contract?
Correct Answer: D
Question 882
What charts and figures should project managers use during the Perform Quantitative Risk Analysis process?
Correct Answer: A
Section: Volume E Explanation
Question 883
When would resource leveling be applied to a schedule model?
Correct Answer: C
Section: Volume C Explanation: 6.6.2.2 Critical Path Method The critical path method, which is a method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model. This schedule network analysis technique calculates the early start, early finish, late start, and late finish dates for all activities without regard for any resource limitations by performing a forward and backward pass analysis through the schedule network, as shown in Figure 6-18. In this example the longest path includes activities A, C, and D, and, therefore, the sequence of A-C-D is the critical path. The critical path is the sequence of activities that represents the longest path through a project, which determines the shortest possible project duration. The resulting early and late start and finish dates are not necessarily the project schedule, rather they indicate the time periods within which the activity could be executed, using the parameters entered in the schedule model for activity durations, logical relationships, leads, lags, and other known constraints. The critical path method is used to calculate the amount of scheduling flexibility on the logical network paths within the schedule model. On any network path, the schedule flexibility is measured by the amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint, and is termed "total float." A CPM critical path is normally characterized by zero total float on the critical path. As implemented with PDM sequencing, critical paths may have positive, zero, or negative total float depending on constraints applied. Any activity on the critical path is called a critical path activity. Positive total float is caused when the backward pass is calculated from a schedule constraint that is later than the early finish date that has been calculated during forward pass calculation. Negative total float is caused when a constraint on the late dates is violated by duration and logic. Schedule networks may have multiple near-critical paths. Many software packages allow the user to define the parameters used to determine the critical path(s). Adjustments to activity durations (if more resources or less scope can be arranged), logical relationships (if the relationships were discretionary to begin with), leads and lags, or other schedule constraints may be necessary to produce network paths with a zero or positive total float. Once the total float for a network path has been calculated, then the free float-the amount of time that a schedule activity can be delayed without delaying the early start date of any successor or violating a schedule constraint-can also be determined. For example the free float for Activity B, in Figure 6-18, is 5 days.
Question 884
In a large organization, with projects of different types and sizes, what kind of approach or method would be best to use?
Correct Answer: C
Question 885
Which project risk listed in the table below is most likely to occur?
