Pm 592 Week 6 Quiz
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 | | | | Student Answer: | | a) Crash cost of A = (600-300)/(5-3) = $150; Crash Cost of B = (450-250)/(3-2) = $200; Crash Cost of C = (500-400)/(6-4) = $50; Crash Cost of D = (400-150)/(5-3) = $125 b) As per the above schedule, the activities on the
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| | Instructor Explanation: | (a) Why is this traditional approach different from using earned value when assessing project performance? Answer should reflect that the traditional methods primarily compare planned expenditures with actual expenditures. The EVM process considers the actual ‘value’ of the work accomplished up to the review date in addition to the money spent. EVM also allows us to make an assessment of the project schedule performance. (b) Describe the EVM process used to determine how far our project is ahead of or behind schedule. The answer should cover the process starting with calculating PV (BCWS) and EV (BCWP) and using these values to obtain SV and SPI. SV and SPI provide two indicators of schedule performance. Additionally, we can use a time based graph of EV and PV values to determine the timing for obtaining a specific EV value versus when we actually obtained it. | | | | Points Received: | 16 of 16 | | Comments: | | | | 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