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Which of the following statement is correct regarding the completion time of the project? O The project takes at least 12 months to be completed

Which of the following statement is correct regarding the completion time of the project? O The project takes at least 12 months to be completed

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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**Constructing an AON Project Network** For the following set of activities, construct an Activity on Node (AON) project network. Analyze the project network, and answer the following questions: | Activity | Activity Predecessor | Time (months) | |----------|----------------------|---------------| | 1 | – | 4 | | 2 | – | 7 | | 3 | 1 | 8 | | 4 | 1 | 3 | | 5 | 2 | 9 | | 6 | 2 | 5 | | 7 | 3 | 2 | | 8 | 4,5,6 | 6 | | 9 | 2 | 5 | **Question: Which of the following is a critical path?** To analyze the critical path, you need to identify the longest path through the network, calculate the earliest and latest start times for each activity, and ensure that activities on the critical path do not have any slack time.
Transcribed Image Text:**Constructing an AON Project Network** For the following set of activities, construct an Activity on Node (AON) project network. Analyze the project network, and answer the following questions: | Activity | Activity Predecessor | Time (months) | |----------|----------------------|---------------| | 1 | – | 4 | | 2 | – | 7 | | 3 | 1 | 8 | | 4 | 1 | 3 | | 5 | 2 | 9 | | 6 | 2 | 5 | | 7 | 3 | 2 | | 8 | 4,5,6 | 6 | | 9 | 2 | 5 | **Question: Which of the following is a critical path?** To analyze the critical path, you need to identify the longest path through the network, calculate the earliest and latest start times for each activity, and ensure that activities on the critical path do not have any slack time.
**Understanding Project Completion Times** In the context of project management, assessing the estimated duration for project completion is crucial. Consider the following multiple-choice question which evaluates the understanding of project timelines: **Question:** Which of the following statements is correct regarding the completion time of the project? 1. ☐ The project takes at least 12 months to be completed. 2. ☐ The project takes at most 12 months to be completed. 3. ☐ The project takes at least 23 months to be completed. 4. ☐ The project takes at most 23 months to be completed. **Explanation:** This question is designed to test the understanding of project duration and constraints. Each option presents a different possible understanding of the timeline required to complete the project. Here’s a breakdown of what each statement implies: - **Option 1:** "The project takes at least 12 months to be completed." This means the shortest possible duration for completing the project is 12 months; it could take longer. - **Option 2:** "The project takes at most 12 months to be completed." This means the longest possible duration for the project is 12 months; it could be completed in a shorter period. - **Option 3:** "The project takes at least 23 months to be completed." Here, the project would require at least 23 months to conclude; it might take longer than 23 months. - **Option 4:** "The project takes at most 23 months to be completed." This indicates that the maximum time required for the project is 23 months; again, it could be completed sooner. Analyze project timelines accurately and choose the correct statement based on precise project planning and estimation.
Transcribed Image Text:**Understanding Project Completion Times** In the context of project management, assessing the estimated duration for project completion is crucial. Consider the following multiple-choice question which evaluates the understanding of project timelines: **Question:** Which of the following statements is correct regarding the completion time of the project? 1. ☐ The project takes at least 12 months to be completed. 2. ☐ The project takes at most 12 months to be completed. 3. ☐ The project takes at least 23 months to be completed. 4. ☐ The project takes at most 23 months to be completed. **Explanation:** This question is designed to test the understanding of project duration and constraints. Each option presents a different possible understanding of the timeline required to complete the project. Here’s a breakdown of what each statement implies: - **Option 1:** "The project takes at least 12 months to be completed." This means the shortest possible duration for completing the project is 12 months; it could take longer. - **Option 2:** "The project takes at most 12 months to be completed." This means the longest possible duration for the project is 12 months; it could be completed in a shorter period. - **Option 3:** "The project takes at least 23 months to be completed." Here, the project would require at least 23 months to conclude; it might take longer than 23 months. - **Option 4:** "The project takes at most 23 months to be completed." This indicates that the maximum time required for the project is 23 months; again, it could be completed sooner. Analyze project timelines accurately and choose the correct statement based on precise project planning and estimation.
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