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NEW QUESTION 53
The focus on continuous communication with all stakeholders, including team members, is part of this knowledge area:
Answer: C
NEW QUESTION 54
Which of the following tools and techniques is used to estimate cost?
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Three-Point Estimate. A technique used to estimate cost or duration by applying an average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.
NEW QUESTION 55
A project lifecycle is defined as:
Answer: D
Explanation:
Section: Volume E
Explanation/Reference:
Explanation:
2.4 Project Life Cycle
A project life cycle is the series of phases that a project passes through from its initiation to its closure. The phases are generally sequential, and their names and numbers are determined by the management and control needs of the organization or organizations involved in the project, the nature of the project itself, and its area of application. The phases can be broken down by functional or partial objectives, intermediate results or deliverables, specific milestones within the overall scope of work, or financial availability. Phases are generally time bounded, with a start and ending or control point. A life cycle can be documented within a methodology.
The project life cycle can be determined or shaped by the unique aspects of the organization, industry, or technology employed.
While every project has a definite start and a definite end, the specific deliverables and activities that take place in between will vary widely with the project. The life cycle provides the basic framework for managing the project, regardless of the specific work involved.
NEW QUESTION 56
The following is a network diagram for a project.
The free float for Activity H is how many days?
Answer: C
NEW QUESTION 57
Which of the following buffers protects the target finish date from slippage along the critical chain?
Answer: D
Explanation:
Section: Volume E
Explanation:
6.6.2.3 Critical Chain Method
The critical chain method (CCM) is a schedule method that allows the project team to place buffers on any project schedule path to account for limited resources and project uncertainties. It is developed from the critical path method approach and considers the effects of resource allocation, resource optimization, resource leveling, and activity duration uncertainty on the critical path determined using the critical path method. To do so, the critical chain method introduces the concept of buffers and buffer management. The critical chain method uses activities with durations that do not include safety margins, logical relationships, and resource availability with statistically determined buffers composed of the aggregated safety margins of activities at specified points on the project schedule path to account for limited resources and project uncertainties. The resource-constrained critical path is known as the critical chain.
The critical chain method adds duration buffers that are non-work schedule activities to manage uncertainty.
One buffer, placed at the end of the critical chain, as shown in Figure 6-19, is known as the project buffer and protects the target finish date from slippage along the critical chain. Additional buffers, known as feeding buffers, are placed at each point where a chain of dependent activities that are not on the critical chain feeds into the critical chain. Feeding buffers thus protect the critical chain from slippage along the feeding chains.
The size of each buffer should account for the uncertainty in the duration of the chain of dependent activities leading up to that buffer. Once the buffer schedule activities are determined, the planned activities are scheduled to their latest possible planned start and finish dates. Consequently, instead of managing the total float of network paths, the critical chain method focuses on managing the remaining buffer durations against the remaining durations of chains of activities.
Figure 6-19. Example of Critical Chain Method
NEW QUESTION 58
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