Harry is the project manager of a large network installation project. This project requires Harry to
add network cable to each office and cubicle of a 14-story office building. Harry will receive a bonus
for good time and cost performance in this project. What law of economics would prevent Harry
from exponentially adding labor to the project work in an effort to complete the work in a very small
amount of time?
The law of diminishing returns state that the user cannot exponentially add labor to a
project to reduce the amount of time required to complete the project work. In other words, Harry
cannot keep doubling the workforce on this project to reduce the project duration down to
just a few minutes.
The law of diminishing returns state that 'the user will get less and less output when he add
additional doses of an input while holding other
inputs fixed. In other words, the marginal product of each unit of input will decline as the amount of
that input increases holding all other
inputs constant.' Diminishing returns mean that the extra labor causes output to fall, which means
that the MPL is negative. In other words,
the change in output per unit increase in labor is negative and total output is falling.
Answer option C is incorrect. This is not a valid project management term.
Answer option A is incorrect. Parkinson's Law states that work will expand to the amount of time
allotted to it.
Answer option D is incorrect. Moore's Law is based on Intel's Gordon Moore who stated that
processor speeds generally double in power
every 18 months.
Examine the figure given below.
In this project network diagram, what is the total float for Activity I?
The float for Activity I is three days. The early start for Activity I is Day 17 and the late start for
Activity I is Day 20. Therefore, the difference of
the early start and the late start reveals the float as three days. It is possible, and acceptable, to use
the difference of the early finish and the late finish to find the float, as the value will be the same
amount. Answer options B, D, and C are incorrect. These are not the valid calculation for the total
float.
You are the project manager of the GHY project. Your project has a BAC of $675,000 and is forty percent complete though you were supposed to be forty-five percent complete. Due to some errors early in the project, you had to spend $278,000 of your project's budget to reach this point. Management is asking for a variance report. What part of your project has the largest variance?
Your schedule variance is -$33,750. You can find this by using the formula earned value-
minus planned.
Answer option C is incorrect. Cost is not the largest variance in the project.
Answer option A is incorrect. Cost is not the largest variance in the project (it is -$8,000).
Answer option D is incorrect. -$20,000 is the variance at completion for the project.
You work as a project manager for BlueWell Inc. Some of the activities in your project are not being completed on time. You reviewed these activities with your project team and discovered that the time estimates for the project are much more aggressive than what they are actually experiencing in the completion of the activities. You elect to create a new schedule for the project. What project anagement process are you working with when you create a new target schedule?
In severe cases, new schedule duration estimates with new forecasted start and finish
dates are needed. In these instances, it is an example
of using the control schedule process.
Control schedule process is a method of monitoring the status of the project to update project
progress and deal with the changes to the
schedule baseline. It is concerned with:
Determining the current status of the project
Influencing the factors that create schedule changes
Determining that the project schedule has changed
Managing the actual changes as they occur
Control schedule is a component of the Perform Integration Change Control process.
Answer option D is incorrect. The activity resources would only address the addition or replacement
of resources needed to complete the
project work.
Answer option B is incorrect. This is a tempting choice, but new schedules are a part of the control
schedule process.
Answer option A is incorrect. Develop schedule is not the best choice for this question.
Mark works as a project manager for Blue Well Inc. He is making relevant information available to the project stakeholders as required. According to Mark, which of the following are NOT the tools and techniques of the Distribute Information process?
These tools and techniques are used in the Plan communications process.
The tools and techniques used in the Distribute information process are as follows:
Communication methods: These methods includes individual and group meetings, computer chats,
audio and video conferences and
other remote communications methods to distribute information.
Information distribution tools: Various information distribution tools can be used to distribute
information such as electronic tools,
electronic conferencing tools, hard copy document distribution etc.
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