Float

The amount of time a task can be delayed without delaying the end date of
the project.
The difference between either the Late and Early Start or the Late and Early
Finish.
2 Days 12 Days 5 Days

0 2 2 14 14 19
A B C
0 2 2 14 14 19
0 0 19 19
(0) (0) (0) Finish
Start
6 Days 7 Days 3 Days 19 19
0 0
0 6 6 13 13 16 (0)
Float = (0)
D E F
3 9 9 16 16 19

(3) (3) (3)

10 1 4

C D E
6 7 9 8 4 6 3

A B F G H J K
11

Figure H

5 - What is the duration of the near critical path based on figure H?

A. 33
B. 44
C. 47
D. 43
 10 1 4

C D E
6 7 9 8 4 6 3

A B F G H J K
11

Figure H

10- Using figure H, a new task R with a duration of five is added to this
project. Task R has a predecessor of task A and a successor of task B.
How long will the project now take?
A. 49
B. 48
C. 38
D. 52

10 1 4

C D E
6 7 9 8 4 6 3

A B F G H J K
11

Figure H

12- Based on the network diagram in figure H, the resource working on task
G is replaced with another resource with 50% of the productivity of the
previous resource. How long will this project take?
A. 44
B. 51
C. 52
D. 36
Exercise:
You have a project with the following tasks:
 Task 1 can start immediately and has an estimated duration of four.
 Task 2 can start after Task 1 is completed and has an estimated
duration of eight.
 Task 3 can start after Task 2 is completed and has an estimated
duration of five.
 Task 4 can start after Task 1 is completed and has an estimated
duration of eight.
 Task 5 has an estimated duration of three and must take place
concurrently with Task 3. It can start after Tasks 4 and 2. What is
the duration of the critical path of this project?
A. 15
B. 18
C. 17
D. 12

Based on the chart, what is the float of activity F ?

A. 2
B. 3
C. 5
D. 0

Activity Preceding activity Estimate weeks

Start 0
C Start 3
D C 6
A C 8
E D 4
B A,E 5
F E 3
End B,F 0
1. If the optimistic estimate for an activity is 12
days, and the pessimistic estimate is 18 days,
what is the standard deviation of this activity?
A. 1
B. 1.3
C. 6
D. 3

Answer: A

2. Based on the following, if you needed to shorten

the duration of the project, what activity would
you try to shorten?
A. Activity B
B. Activity D 1 10 3

C. Activity I A D G
D. Activity C
2 1 9

Start B F I End

6 2 1

C E H

Answer: C
3. Lag means:
A. The amount of time an activity can be delayed
without delaying the project finish date.
B. The amount of time an activity can be delayed
without delaying the early start date of its
successor.
C. Waiting time.
D. The product of a forward and backward pass.

Answer: C

4. Which of the following is the BEST project

management tool to use to determine the longest
time the project will take?
A. WBS
B. Network diagram
C. Bar chart
D. Project charter

Answer: A
5. Which of the following is CORECT?
A. The critical path helps prove how long the
project will take.
B. There can be only one critical path.
C. The network diagram will change every
time the end date changes.
D. A project can never have negative float.

Answer: A

6. What is the duration of a milestone?

A. Shorter than the duration of the longest activity
B. Shorter than the activity it represents
C. There is no duration
D. Same length as the activity it represents

Answer: C
7. The float of an activity is determined by:
A. Performing a Monte Carlo analysis.
B. Determining the waiting time between activities.
C. Determining lag.
D. Determining the amount of time the activity can
be delayed before it delays the critical path.

Answer: D

8. When would a milestone chart be used instead of

a bar chart?
A. Project planning
B. Reporting to team members
C. Reporting to management
D. Risk analysis

Answer: C
9. An activity has an early stat (ES) of days 3, a late
start (LS) of days 13, an early finish (EF) of day 9,
and a late finish (LF) of day 19.

The activity:
A. Is on the critical path.
B. Has a lag.
C. Is progressing well.
D. Is not on the critical path.

Answer: D

10. Rearranging resources so that a constant number

of resources is used each month is called:
A. Crashing.
B. Floating.
C. Levelling.
D. Fast tracking.

Answer: C
Questions & Answers
1) You are a project manager working on a project that
requires 100 widgets to be built in five weeks. You
have just begun week three, with an overall budget of
US $10,000. To date you have spent US $2,000 with
40 widgets successfully built. What does the cost
variance tell you in this circumstance?

A. The project is proceeding at 100% of the expected rate

B. The project is $2000 under budget
C. The project is on budget
D. The project is getting $2 of work for every dollar spent

Questions & Answers

2) You are a project manager for a small construction
project. Your project was budgeted for US $72,000
over a six week period. As of today, you've spent US
$22,000 of your budget to complete work that you
originally expected would cost US $24,000. According
to your schedule, you should have spent US $21,000
by this point. Based on these circumstances, your
project could be BEST described as:

A. Over budget
B. On budget
C. Under budget
D. Not having enough information provided
Exercise: Accounting Standards

Project A Project B Choice

Net present V $95.00 $75.00 A

IRR 13% 17% B

Payback Period 21 Month 16 Month B

Benefit Cost Ratio 2.79 1.3 A

Questions & Answers

1) You have four projects from which to choose one. Project A
is being done over a six year period and has a Net Present
Value (NPV) of US $70,000. Project B is being done over a
three year period and has a NPV of US $30,000. Project C is
being done over a five year period and has an NPV of US
$40,000. Project D is being done over a one year period and
has an NPV of US $60,000. Which project would you
choose?

A. Project A
B. Project B
C. Project C
D. Project D
1) One common way to compute estimate at
completion (EAC) is to take the budget at
completion (BAC) and:
A. Divide by SPI.
B. Multiply by SPI.
C. Multiply by CPI.
D. Divide by CPI.

Answer: D

2) Estimate at completion (EAC) is a periodic

evaluation of:
A. The cost of work completed.
B. The value of work performed.
C. The anticipated total cost at project
completion.
D. What it will cost to finish the job.

Answer: C
3) If earned value (EV) = 350, actual cost (AC) =
400, planned value (PV) = 325, what is cost
variance (CV)?
A. 50
B. -75
C. 400
D. -50

Answer: D

4) Which of the following is NOT needed in

order to come up with a project estimate?
A. A WBS
B. A network diagram
C. Risks
D. A change control system

Answer: D
5) Which of the following is an example of a
parametric estimate?
A. Dollars per module
B. Learning bend
C. Bottom-up
D. CPM

Answer: A

6) Which type of cost is team training?

A. Direct
B. NPV
C. Indirect
D. Fixed

Answer: A
7) Project setup costs are an example of:
A. Variable costs.
B. Fixed costs.
C. Overhead costs.
D. Opportunity costs.

Answer: B

8) Earned value analysis an example of:

A. Performance reporting.
B. Planning control.
C. Ishikawa diagrams.
D. Integrating the project components into a
whole.

Answer: A
9) The difference between the cost baseline and
the cost budget can be BEST described as:
A. The Contingency reserve.
B. The Management reserve.
C. The project cost estimate.
D. The cost account.

Answer: A

10)Who has the cost risk in a fixed price (FP)

contract?
A. The team
B. The buyer
C. The seller
D. Management

Answer: C