CIV E 710 Sample Exam Questions. Activity a m b A B C D E F G H I B 80 Mhrs.

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Willis King
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1 1 IV 710 Sample xam Questions Question 1: a) The optimistic, most likely, and pessimistic durations for the activities in the small project shown are in the following table. What is the probability of the project being completed in 0 days or more? ctivity a m b H I 6 9 b) onsider the following payoff table: 1) Which stock would the optimistic investor choose? ) Which stock would the pessimistic investor choose? ) Which stock has the highest expected return given the probability of a poor economy is 10%, a good economy is 50%, and an excellent economy is 0%? raw you decision tree in this case. State of conomy Stock Poor ood xcellent IM T Q WT Question : Mhrs 16 Mhrs The following network represents the activities in a single unit. If you are to construct 6 units in 5 days, 8 Mhrs calculate the crews that need to be involved and draw the schedule of all activities. 96 Mhrs 7 Mhrs Men If budget cost is $1,000 per activity day, draw the WS chart. If by end of day 1, total actual expenditure is 50K, while the earned value is $5K. alculate the cost and schedule variances and comment on project status.

2 Question : - Two basic assumptions in riedman s model for bidding strategy are: - Monte arlo Simulation uses a distribution for activities durations, while PRT uses a distribution. - The general strategy to improve resource profiles in a project is to: - The general strategy to efficiently allocate limited resource in a project is to: - The general strategy to crash a project to meet a strict deadline is to: - In the small example below, determine the responsibility for the delay beyond deadline: a) Using ut-or analysis, owner s perspective; and b) Using ut-or analysis, contractor s perspective. s-planned ar hart s-uilt ar hart - If a typical competitor has a / ratio with mean value of 1.08 and standard deviation of 0.1, what is the markup associated with a 0% probability of winning typical competitors? What is the contractor s expected profit at this markup if the cost estimate for the job is $10,000,000?

3 Question : Your design team is establishing a multiple-criteria analysis for awarding bids to the most suitable contractors. The three criteria chosen are: bid price, years of experience, and financial strength (value of assets). To facilitate the analysis, the design team also established utility functions for the no. of experience years and the value of assets, as shown below. In addition, the team agreed that the bid price is 6 times as important as the experience, while the bid price is times as important as financial strength. ut, financial strength is times as important as experience Years 0 - ssets (mil.) > <1 In evaluating the bidders for a new job, three bids are received as follows: - ompany : bid= $1.5 mil.; 10 years experience; and value of assets = $5 mil. - ompany : bid= $1.9 mil.; years experience; and value of assets = $7 mil. - ompany : bid= $1.9 mil.; years experience; and value of assets = $1 mil. Which bidder should be selected and why? Other Questions iven the following project data, calculate and show: The logic network; the ritical path; and the overall % complete of the project, to-date. ctivity Predecessors uration ost x $1,000 ctual Percent omplete, to-date H I J,, H, I % 100% 70% 50% 15%

4 - What is your comment about the cost and schedule performances of a project having the following control curves at current date. - Two criticisms of PRT technique in dealing with uncertainty in project duration are: - One benefit of using Monte arlo Simulation over the PRT technique in dealing with uncertainty in project duration is: - alculate and show the critical path for the following project: uration ctivity (days) H 8 I 6 J 6 K 10 - The following O network shows durations in months: a. Perform PM calculation, determine the critical path, and draw a late bar chart. () (8) 9 H () 1 () 5 (6) 11 I (8) 15 K (5) 17 () 7 (6) (7) 1 J ()

5 5 - ctual daily percentage completes are shown below until the end of day 5. - alculate and draw the remaining schedule. - What is the expected project duration, as compared to plan? - alculate the ost Performance Index and the Schedule Performance Index at end of day 5. - omment on current progress. ctivity epends on Planned ur / $ --- / K ctual $ to date K % % % / K K / K 0 ctuals 5% 50% / 5K 5K 10% 10% 10% 10% 0% - typical subcontract involves the following small network. You are involved in constructing 6 of these units in 5 days. Manually calculate the number of crews that need to be involved in each activity. raw the schedule of all activities but consider the following conditions: Unit requires half the construction times in all activities. The crews for activity are limited to but the contractor will bring new machinery for this activity that will reduce its duration in units to 6 to only 6 days. o you meet the deadline? If not, write your comments. Mhrs 16 Mhrs 8 Mhrs 96 Mhrs 7 Mhrs Men - Let's consider a simple project network with three possible durations as shown. alculate the probability of the project being completed in 0 days of less. 1,,5,6,9 1,, 7,8,10 7,10,1 1,16,0 J 5,6, ,,6 H 7,8,10 6 K 6,10,1 I,6,9 9

6 6 -The previous records of a past bids against key competitors is in the following table. Using riedman s model, determine the markup needed to optimize expected profit in bidding against competitors,, and in a new job with an estimated total cost of $,000,000. Job No. 1 ontractor s id price of competitors ($) cost estimate ($) 1,550,000 1,900,000 1,700,000 1,750,000,000,000,000,000,00,000 1,00,000 1,500,000 1,00,000 1,650,000 1,00,000 1,600,000 1,00,000 - If a decision is governed by three main criteria; criterion 1 is times as important as criteria ; criterion is 9 times as important as criterion1; riterion is times as important as criterion, calculate the weights for the three criteria using the HP method. xplain how the consistency ratio is calculated. -In an urgent project, you need to decide from which vendor to buy a particular component. Vendor will supply the components in lots of 1000 for $10 a unit, while Vendor will charge only $9.5 a unit. However, 0% of the time Vendor s lots will contain 10% defectives and 80% of the time they will contain 1% defectives, while Vendor s lots will contain 1% defectives 99% of the time and % defectives 1% of the time. If you encounter a defective component, it will cost you $100 to rework your assemblies. a) raw a decision tree for this decision; and b) using the criterion of expected cost, from which vendor should you purchase the component?

EXERCISE Draw the network diagram. a. Activity Name A B C D E F G H

EXERCISE Draw the network diagram. a. Activity Name A B C D E F G H XRIS. What do you mean by network analysis? xplain with counter examples.. What are the basic differences between PM and PRT analysis of project work?. State the rule of constructing the network diagram..