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Exam 9: Reducing Project Duration

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Question 31

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When considering whether to move the project to its optimum cost-time position, the manager should also consider ________.

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risk
Explanation: Should the p...

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Question 32

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When adding resources, there are limits as to how much speed can be gained.

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B) False

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Question 33

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Intense global competition and rapid technological advances create pressure to develop projects rapidly.This is an example of reducing project duration caused by

An activity must be crashed on each critical path in order to reduce project duration.

The total cost for each time unit of a project is the sum of labor, materials, and equipment.

Compressing activities on a project with a sensitive project network will:

A contractor finished a bridge across a lake 18 months early and received more than $6 million for the early completion.This is an example of reducing project duration caused by

Incentive contracts can make the reduction of project time rewarding-usually for both the project contractor and owner.

The ________ project cost is the sum of the indirect and direct costs.

If indirect costs are a significant percentage of total project costs, reductions in project time can represent very real savings.

Without any formal planning, the president of a software company remarks in a speech that new technologically advanced software will be available in one year.This may lead to a project that must be done faster than anticipated.This is an example of reducing project duration caused by

Which of the following is NOT considered a project indirect cost?

It is going to cost $80,000 a day simply to house and feed a construction crew in the farthest reaches of northern Alaska.This would be an example of a situation requiring reducing the project duration due to

Which of the following is NOT a rational reason to reduce project duration?

As a project is crashed and project duration is reduced, direct costs typically

When crashing a schedule, this may set in when a least-cost method is used.

Resources are frequently over-allocated when crashing a schedule.

Given that an activity's normal time and cost are 10 days and $400, respectively, and its crash time and cost are 5 days and $800, respectively, what is the activity's slope?

One of the advantages of using a project cost-duration graph is that it keeps the importance of indirect costs in the forefront of decision making.

When reducing project duration, there will always be an optimum cost-time point where the total cost of the project is less than it was when the project was initially planned under normal conditions.