PTI01_Project Management and Organizational Structure Flashcard

Front

What is the best definition of a project?

Back

A temporary endeavor undertaken to create a unique product or service

Front

In the Critical Path Method (CPM), task duration is considered to be:

Back

Deterministic

Front

What does PERT stand for in project management?

Back

Program Evaluation and Review Technique

Front

How is Earliest Finish (EF) determined?

Back

By adding the activity time to ES

Front

What is the expected time for an activity if the optimistic, most likely, and pessimistic times are all equal?

Back

The value of any of the times

Front

What is the primary purpose of the Critical Path Method (CPM) in project management?

Back

To identify the longest path through the project

Front

What does slack time indicate in project scheduling?

Back

Slack time indicates the flexibility of a task's start and finish dates.

Front

In PERT analysis, what does the term 'most likely time' refer to?

Back

The time that is considered the most realistic estimate

Front

What is the main advantage of using the Program Evaluation and Review Technique (PERT) over CPM?

Back

It allows for more accurate time estimates

Front

Term: 'float' in project management

Back

The amount of time a task can be delayed without affecting the project