Project and Program Management Flashcards

Which scheduling technique calculates the earliest and latest start/finish times for each activity to identify float?

Answer: Critical Path Method (CPM)

CPM computes forward and backward passes through the network to determine float and identify the critical path.

A construction program manager oversees multiple projects simultaneously. The PRIMARY benefit of program management over managing individual projects is:

Answer: Coordinating interdependencies and optimizing shared resources across projects

Program management adds value by managing interdependencies, shared resources, and strategic alignment across related projects.

During project execution, the actual cost of work performed (ACWP) exceeds the budgeted cost of work performed (BCWP). This indicates:

Answer: A cost overrun (negative cost variance)

When ACWP > BCWP, the cost variance (CV = BCWP – ACWP) is negative, indicating a cost overrun.

Which document formally authorizes a construction project and grants the project manager authority to apply resources?

Answer: Project charter

The project charter formally authorizes the project and gives the project manager the authority to use organizational resources.

Fast-tracking a construction schedule differs from crashing in that fast-tracking:

Answer: Overlaps sequential activities to compress the schedule

Fast-tracking performs activities in parallel that were originally planned sequentially, without necessarily adding cost.

A Responsibility Assignment Matrix (RAM) maps which of the following?

Answer: WBS elements to project team members or organizational units

A RAM (often shown as a RACI chart) assigns team members or groups to WBS work packages, clarifying roles and responsibilities.

Which type of contract places the MOST financial risk on the contractor?

Answer: Firm-fixed-price (FFP)

Under a firm-fixed-price contract, the contractor bears all cost risk because the price is set regardless of actual costs.