61. ______ are activities that must be completed immediately prior to the start of another activity.
critical
preceding
succeeding
concurrent
Answer.2. preceding
Explanation:
Predecessor activity – Activities that must be completed immediately prior to the start of another activity are called predecessor activities.
62. Activities that cannot be started until one or more other activities are completed but immediately follow are called
critical
preceding
succeeding
concurrent
Answer.3. succeeding
Explanation:
Successor activity: Activity that cannot be started until one or more other activities are completed but immediately succeed them are called successor activity.
63. Activities that can be accomplished simultaneously are called ______ activities.
critical
preceding
succeeding
concurrent
Answer.4. concurrent
Explanation:
Concurrent: Activity that can be accomplished simultaneously is known as concurrent activity. An activity can be a predecessor or successor to an event or it may be concurrent with one or more of the other activities.
64. _____ is the earliest time an activity can begin.
EFT
LST
LFT
EST
Answer.4. EST
Explanation:
Earliest start time (EST): It is defined as the earliest possible time at which an activity can start. It is calculated by moving from the first to the last event in a network diagram.
65. The sum of earliest start time and estimated time to perform the project is called
EFT
LST
LFT
EST
Answer.1. EFT
Explanation:
Earliest start time (EST): It is defined as the earliest possible time at which an activity can start. It is calculated by moving from the first to the last event in a network diagram.
Earliest finish time (EFT): It is the earliest possible time at which an activity can finish.
The relationship between earliest start time, earliest finish time, and duration is given by
Earliest finish time = Earliest start time + duration of that activity
∴ EFT = EST + D
66. The latest possible time an activity can finish without delaying the project is called
EFT
LST
LFT
EST
Answer.3. LFT
Explanation:
Latest finish time (LFT): It is the latest possible time at which an activity can finish and still allow the project to be completed on the estimated project completion time.
67. Difference between latest finish time and estimated time to perform the project is called
EFT
LST
LFT
EST
Answer.2. LST
Explanation:
Latest start time (LST): It is defined as the latest time an activity can start and still allow the project to be completed on the estimated project completion time.
Latest finish time (LFT): It is the latest possible time at which an activity can finish and still allow the project to be completed on the estimated project completion time.
The relationship between latest start time, latest finish time, and duration is given by,
Latest finish time = Latest start time + duration of that activity
∴ LFT = LST + D
68. _______ is the difference between the actual sales and break-even sales.
margin of safety
fixed cost
contribution
profit
Answer.1. margin of safety
Explanation:
The margin of safety is the difference between the amount of expected profitability and the break-even point. The margin of safety formula is equal to current sales minus the breakeven point, divided by current sales.
69. ______ study is a systematic method adopted to find out the possibility and practicability of starting a project
profitability
liquidity
feasibility
viability
Answer.3. feasibility
Explanation:
A feasibility study sometimes called a feasibility analysis or feasibility report—is a way to evaluate whether or not a project plan could be successful. A feasibility study evaluates the practicality of your project plan in order to judge whether or not you’re able to move forward with the project.
70. Which of the following is not a phase in the project life cycle?
pre-investment phase
construction phase
normalization phase
growth phase
Answer.4. growth phase
Explanation:
The Project Life Cycle is divided into three-phase
The Pre-investment Phase
The Construction Phase
The Normalisation Phase
Pre-investment or pre-contract expenditures may generally be defined as costs incurred in preparatory work for the making of the investment.
The construction phase is the physical process of building and all other associated activities such as landscaping, refurbishing, site clearance, and demolition.
Normalization aims at eliminating anomalies in data. The process of normalization involves three stages, each stage generating a table in normal form.
71. Which of the following is a technique of project identification?
desk research
sensitivity analysis
cvp analysis
none of these
Answer.1. desk research
Explanation:
Project managers can use several tools to identify risks in a project. They include documentation reviews, information gathering, brainstorming, checklist analysis, assumption analysis, diagramming, SWOT analysis, desk research and expert judgment techniques.
Desk research is basically involved collecting data from existing resources hence it is often considered a low-cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges, and directories.
72. Decision regarding factory design is part of
network analysis
financial analysis
technical analysis
social cost-benefit analysis
Answer.3. technical analysis
Explanation:
Technical evaluation has the most important place in the evaluation of a new or proposed project which is done by qualified and experienced experts in the field. If the project size is very big and is of technical importance then the service of experts from outside can also be taken. The decision regarding factory design is part of technical analysis.
73. Which of the following is not a network technique?
CPM
PERT
SWOT
LOB
Answer.3. SWOT
Explanation:
The term project networks analysis is a generic term covering all the network techniques used for planning, scheduling, and controlling projects. The three commonly used techniques are The critical Path Method (CPM), Program Evaluation and Review Technique (PERT), and Precedence Network Analysis (PNA).
SWOT is a part of Marketing management.
74. Shortest possible time to complete an activity is _______
pessimistic time
optimistic time
most likely time
none of these
Answer.2. optimistic time
Explanation:
An optimistic Time Estimate is a shortest possible time for completing an activity if everything proceeds as planned without any problem i.e. the activity is performed under ideal conditions.
75. Maximum possible time to complete an activity is _______
pessimistic time
optimistic time
most likely time
none of these
Answer.1. pessimistic time
Explanation:
A pessimistic Time Estimate is a maximum time required to complete an activity under abnormal or extremely adverse conditions in which everything goes wrong. The estimate, however, does not include catastrophes such as fires, earthquakes, floods, etc.
