51. ______ is a network technique of scheduling and controlling the project where activity times cannot be precisely estimated.
PERT
CPM
BEP
SWOT
Answer.1. PERT
Explanation:
Program Evaluation Review Technique (PERT) is used to schedule, organize, and coordinate tasks within a project. It is basically a method to analyze the tasks involved in completing a given project, especially the time needed to complete each task and to identify the minimum time needed to complete the total project.
52. ______ analysis is a technique commonly used to assess expected product profitability.
PERT
CPM
BEP
SWOT
Answer.3. BEP
Explanation:
The breakeven point (break-even price) for trade or investment is determined by comparing the market price of an asset to the original cost; the breakeven point is reached when the two prices are equal.
A BEP s typically calculated in order for businesses to determine if it would be profitable to sell a proposed product, as opposed to attempting to modify an existing product instead so it can be made lucrative.
BEA can also be used to analyze the potential profitability of expenditure in a sales-based business.
53. A series of related activities which result in some product or service is called
event
task
network
slack
Answer.3. network
Explanation:
A series of related activities which result in some product or service is called a project network.
A project network is a graph that shows the activities, duration, and interdependencies of tasks within your project.
54. _______ represents the activities and events of a project in a logical sequence.
network diagram
project graph
arrow diagram
all of these
Answer.1. network diagram
Explanation:
A project network diagram visualizes the sequential and logical relationship between tasks in a project setting.
This visualization relies on the clear expression of the chronology of tasks and events. Most often, a project network diagram is depicted as a chart with a series of boxes and arrows.
55. The element of job to be completed in a specific time is known as ______
event
activity
network
slack
Answer.2. activity
Explanation:
Activity is the work content required to be achieved to accomplish an event.
or
The element of the job to be completed in a specific time is known as Activity.
It is a clearly defined project element, a job, or a task that requires the consumption of resources including time.
The word activity has been adopted in preference to working content as it also includes non-work actions like waiting.
56. _______ represents the start and end of an activity.
event
activity
network
slack
Answer.1. event
Explanation:
An event represents a point in time signifying the completion of some activities and the beginning of new ones. This is usually represented by a circle in a network which is also called a node or connector.
(ii) The events are classified into three categories
Merge event → When more than one activity comes and joins an event such an event is known as a merge event.
Burst event → When more than one activity leaves an event such an event is known as a burst event.
Merge and Burst event → An activity may be a merge and burst event at the same time as with respect to some activities it can be a merge event and with respect to some other activities, it may be a burst event.
57. Node represents ________
slack
activity
network
event
Answer.4. event
Explanation:
The nodes are used to represent the start or end of an activity in a sequence. The node represents an event.
An event represents a point in time signifying the completion of some activities and the beginning of new ones. This is usually represented by a circle in a network which is also called a node or connector.
58. ______ is the unbroken chain of activities from start event to end event in the network diagram.
slack
activity
network
path
Answer.4. path
Explanation:
An unbroken chain of activity arrows connecting the initial event to some other event is called a path.
59. Critical path is the longest ______ in the network.
slack
activity
event
path
Answer.4. path
Explanation:
The critical path is an unbroken chain of critical activities between the first and last events of a network diagram.
The path in a network diagram with the maximum durations is called a critical path. The critical path is the longest path in a network. It consumes maximum duration.
60. Activities lying on the critical path are known as ______ activities.
critical
preceding
succeeding
concurrent
Answer.1. critical
Explanation:
Critical activities are those activities whose float is zero and they lie on the critical path.
