Review

1. We distinguished three optimization approaches in this chapter: optimizing for time, optimizing for time and cost, and optimizing for time, cost and resources.

   1. What are the main differences between these approaches?

   2. Describe the situations in which you should apply each.

   3. What are common techniques used in each approach?

2. Choose one of four answers. Total slack is:

   1. The amount of time a task can move freely without affecting its successors.

   2. The difference between the late finish date and early finish date of the task.

   3. The amount of time in which the resource has to complete the task.

   4. The difference between the early start of the earliest successor and the early finish date of the task.

3. You receive a schedule and notice that the project finish milestone has a negative Total Slack of -10 days. In your own words, what does this mean?

4. There are six possible causes for fragmentation of the Critical Path; list four of those six causes.

5. When optimizing for time:

   1. What are the seven process steps for shortening the Critical Path?

   2. What are at least six of the nine possible methods to shorten the Critical Path?

6. One of your team leaders suggests that the duration of one of her critical tasks could be decreased if you can provide her with more people to do the work. What factors should you consider?

7. What is Monte Carlo simulation? What benefits can project managers derive from simulating their schedules?

8. What methods are available to decrease the cost...