According to Goldratt’s critical chain theory, what should you do in order to reduce risk in project schedules? A: Start activities in the feeder chains as late as possible. B: Add buffers to the critical chains. C: Start activities in the critical chains as early as possible. D: Start activities in the feeder chains as early as possible.

True / False Questions Good project management is especially important with virtual teams.  One way that project management differs from management of more traditional activities is because of the limited life-time of projects. Once a project is approved and underway, project managers are only responsible for effectively managing time and costs which, if done well, will assure project completion on time and on budget.  Matrix organizations transfer control of workers to project managers for the duration of the project.  Some organizations use a matrix organization to integrate the activities of specialists within a functional framework.  The computing algorithm requires both a forward and backward pass.    7. A hierarchical (vertical) listing of what must be done during a project is called matrix.  8. An advantage of Gantt charts in project management is that they identify which activities can be delayed without delaying the overall project.  9. A Gantt chart is built using…

You are conducting a small IT project. The duration of this project is 30 days, and you have allocated $60,000 for it. Your manager asked you to check how the project is doing financially at the end of day 25. You have spent $40,000 and completed 95% of the work. Calculate the following values for the project so far. The cost variance (CV). The cost performance index (CPI). How is the project doing, is it under budget or over budget? Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?

You may need to use the appropriate technology to answer this question. Due to population growth in the area, the new Liberty High School has just opened in a local school district. The athletic director at Liberty High is planning the launch of the school's track and field team. The first team practice is scheduled for April 1. The activities, their immediate predecessors, and the activity time estimates (in weeks) are listed in the following table.       Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Meet with board   1 1 2 B Hire coaches A 4 6 8 C Conduct fundraiser A 2 4 6 D Announce program B, C 1 2 3 E Meet with coaches B 2 3 4 F Order team equipment A 1 2 3 G Register athletes D 1 2 3 H Reserve buses for meets G 1 2 3 I Plan first practice E, H, F 1 1 1 (a) Draw a project network. A project network with 11 activities and 13 directed arcs is shown. Activity Start is connected to activity A. Activity A…