Quantitative Analysis for Management, 13e (Render et al.) Chapter 11 Project Management 1) PERT and CPM are quantitative analysis tools designed to schedule and control large projects. Answer: TRUE Diff: Easy Topic: INTRODUCTION LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 2) PERT is a deterministic analysis tool allowing for precise times of activities within a project. Answer: FALSE Diff: Moderate Topic: INTRODUCTION LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 3) CPM is a probabilistic analysis of managing a project. Answer: FALSE Diff: Moderate Topic: INTRODUCTION LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 4) The first step in planning and scheduling a project is to develop the work breakdown structure. Answer: TRUE Diff: Moderate Topic: INTRODUCTION LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 5) A PERT/CPM network is a graphical display of a project that connects activities. Answer: TRUE Diff: Easy Topic: PERT/CPM LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept lOMoAR cPSD|3013804 6) The optimistic time is the greatest amount of time that could be required to complete an activity. Answer: FALSE Diff: Moderate Topic: PERT/CPM LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 7) CPM was developed for use in managing projects about which we have good information about activity or task completion times. Answer: TRUE Diff: Moderate Topic: PERT/CPM LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 8) With PERT, we are able to calculate the probability of finishing the project within a specified time. Answer: TRUE Diff: Moderate Topic: PERT/CPM LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 9) The identification of the project activities and their time, cost, resource requirements, predecessors, and person(s) responsible is called PERT planning. Answer: FALSE Diff: Moderate Topic: INTRODUCTION LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 2 Copyright © 2018 Pearson Education, Inc. lOMoAR cPSD|3013804 10) Before drawing a PERT or CPM network, we must identify all activities and their predecessors. Answer: TRUE Diff: Moderate Topic: PERT/CPM LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 11) The three time estimates employed in PERT are optimistic time, average time, and pessimistic time. Answer: FALSE Diff: Moderate Topic: PERT/CPM LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 12) Given the variability of the activity completion times, the original critical path we identify in our PERT analysis may not always be the actual critical path as the project takes place. Answer: TRUE Diff: Moderate Topic: PERT/CPM LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept 13) In PERT, the earliest start time for an activity is equal to the latest of the earliest finish times of all of its immediate predecessors. Answer: TRUE Diff: Moderate Topic: PERT/CPM LO: 11.1: Understand how to plan, monitor, and control projects with the use of PERT and CPM. AACSB: Analytical thinking Classification: Concept