Mock Questions

What would be the answer of this question?


A project manager has been asked by the client to meet the promise date of the project. The project manager analyzes the schedule before promising a date to the customer. The project manager uses the program evaluation and review technique to evaluate the project schedule. She decides that based on the PERT calculations she can promise a delivery date of June 30. The expected value of the project completion date is May 30. If the project manager is willing to accept a 5% probability that the project will be delivered later than June 30, what is the standard deviation of the duration of the activities on the critical path? Assume a five-day workweek.


a. Ten days
b. Fifteen days
c. One-half month
d. One month


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what is Chart of accounts?


 


Any numbering system that is used to monitor project costs by category such as labor, supplies, or materials, for example, is called 
a. Chart of accounts
b. Work breakdown structure
c. Universal accounting standard
d. Standard accounting practices


 


Answer is A


 


What would be the answer of this question?



 



A project is proposed to a customer. Price and schedule for delivery are agreed upon. The work breakdown structure is agreed to as well. The customer requests that one of the milestones of the project be completed by a certain date. The project schedule is reviewed, and it is found that the expected completion date for this milestone is considerably earlier that the date requested by the customer. The date for this milestone is which of the following?


a. Consideration
b. Summary activity
c. Constraint
d. Suggestion

I will explain later. if time permit me.

hope many able forum members are here could explain it.

Chart of Accounts :

 http://project-management-knowledge.com/definitions/c/chart-of-accounts/

A chart of accounts is a tool which refers to a specific numbering system that is used by project management teams to assist them in keeping track of and documenting project expenditures and costs. On a chart of accounts, these expenditures are typically broken down according to a number of pre-determined categories. This categorization makes it easier when attempting to reconcile to determine exactly where the money was spent, at which phase of the project different amounts of money were spent for different items, etc. The specific categories can range wildly, but some examples of often used categories are categories such as labor expenses, purchase of supplies, costs for materials, and costs for equipment purchase or rental. The project chart of accounts is typically based on the corporate chart of accounts of the company for which the project is being conducted, or if there are multiple, the primary performing organization. Contrast with code of accounts.

This term is defined in the 3rd edition of the PMBOK but not in the 4th.

Like this you can search every thing from various related sites.

 

Regards

It is constraint :

If the customer does not put its condition, this milestone will be achieving as on preframed schedule, while customers request will cause a delay.

According to that certain date of milestone, whole schedule will be replanned and it is a constraint for Project schedule.

Summary activity - is simply other name of Milestone

Suggestion - it could not be a suggestion, it is a request for a condition.

Consideration  - Consideration in a project planning , are predefined and considered by planner himself, here it is being requested by customer hence it is not a consideration.

Regards

 


Thanks for your reply. Yes correct I agreed its a constraint.related to project schedule. But this constraint type is different like Customer prefered a date which is later than project scheduled date. My project Plan tells me that I can Deliver this on June 30th and Customer want this on July 31st.


So should I change my project plan to deliver on July 31st as per customer date? Is early deliver on my part a problem?


I feel I should do that what do you think?


Regards,


Ravi Datt

 

Mean value is given = 30 th of May expected time

pessimistic range is given

as per PMBOK +/- 3sigma limit may be taken for estimation purposes.

Hence for optimistic value -3sigma limit is taken .

5% probablity is that work can take more time beyond 30th of june.

Basis on this variables

sigma (SD) = pes -op/6 is calculated.

 

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when I go for a small calculation /concept

1.65Sigma = 31 days , Sigma(SD) = 31/1.65 =18.78 days, which is not any option.

I contacted to a mathematics professor   - he advised  -18.78days is only correct answer

He added  Area is probablity and sum of product of ( DurationX frequency), hence it could not be used as proportionate value ,

Means  49.875*31/45 = 34.79 days (26April ) is wrong method and sigma  = 34.79+31/6 = 10.9 is also wrong.

3Sigma value thus  = 3*18.78 =56.36days back of mean value, Date will be 04 April instead of 26th april.

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By 3 point formula if SD calculated = p-o/6 = 56+31/6 = 14.56 days then answer will be =15days Option B

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See the picture on my blog -do double click on picture for larger view

http://er-sspawar.blogspot.in/2012/05/auto-cad-version-of-3-point-estimate.html

For 5% probablity area how number 1.65  is come see second picture-

http://er-sspawar.blogspot.in/2012/05/1645-have-45-area-from-mean.html

Regards