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MGT Exam 2 Questions and Answers 100% Pass
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MGT Exam 2 Questions and Answers 100% Pass 1: PROJECT MANAGEMENT crashing simulation cash flow critical chain probabilistic completion times - ANSWER - Crashing - ANSWER -Decreasing projection completion time by adding more resources -Critical Path (CP) is dynamic - ANSWER - -Crashing CP o...

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  • December 19, 2024
  • 29
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt exam 2 questions and answers 100 pass

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  • MGT
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MGT Exam 2 Questions and Answers 100% Pass

1: PROJECT MANAGEMENT




crashing


simulation


cash flow


critical chain


probabilistic completion times - ANSWER ✔✔-


Crashing - ANSWER ✔✔-Decreasing projection completion time by adding more resources


-Critical Path (CP) is dynamic - ANSWER ✔✔-


-Crashing CP os reccomended 1 unit at a time to see if current critical path is still the only critical path -

ANSWER ✔✔-


Conditions for Critical Path (CP): Which are the conditions?


a. the longest path


b. Consists only with critical activities


c. The total slack of the Critical Path (CP) should be 0 - ANSWER ✔✔-a, b and c


Conditions for crashing - ANSWER ✔✔-Can activities in the critical path be crashed and what is the

additional cost for crashing that activity




Created by Grace Amelia © 2025, All Rights Reserved.

,2|Page


-Identify the critical path by looking at which one is the longest - ANSWER ✔✔-


Other factors to consider when crashing a project - ANSWER ✔✔-1. Reliable Data is the most important

in any quantitative analysis




2 If time(t) is uncertain, like original PERT, compute probabilistic completion time


T or F: A factor to consider when crashing a project is that reliable data is the most important in any

quantitative analysis - ANSWER ✔✔-T


CCPM - ANSWER ✔✔-Critical Chain Project Management


-In CCPM, use the crashing method of Critical Chain (CC) - ANSWER ✔✔-


Critical Chain (CC) crashing method - ANSWER ✔✔-1. takes into account resources, rather than just on

CP's task order




2. Pursues "good enough" solution




3. is more practical


Critical Path (CP) crashing method




1. does not take into account resources




2. pursues optimal solution - ANSWER ✔✔-



Created by Grace Amelia © 2025, All Rights Reserved.

, 3|Page


T or F: CC crashing method is more practical, takes into account resources rather than CP's task order and

pursues "good enough" solution instead of CP pursuing optimal solution - ANSWER ✔✔-T


-Tool for crashing: a software such as Excel can aid crashing for complicated problems that may arise in

Statistical Process Control (SPC). The most popular software is MS Project - ANSWER ✔✔-


-You can use simulation to aid the process of crashing - ANSWER ✔✔-


Simulation - ANSWER ✔✔-imitation of a real system by representing certain key characteristics or

behaviors of a physical or abstract system


2: SERVICE STRATEGY




service operations goals (mission and objec.)


hierarchy of strategy


operations strategy


dinstictive competences and competitive priorities - ANSWER ✔✔-


Benjamin Franklin - ANSWER ✔✔-founding father of american business


"tricks or treacheries are by fools"


good is good for business


trust prerequisite for business


What is the difference between strategies and goals? - ANSWER ✔✔-Goals is about the destination

whereas strategy is how to get there, the directions, it is used to accomplish your goals, direction to target

depends on your goals




Created by Grace Amelia © 2025, All Rights Reserved.

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