Extermal risks referred only to natural hazards Inicrnal risks are those which m
ID: 1866894 • Letter: E
Question
Extermal risks referred only to natural hazards Inicrnal risks are those which may occur oely to the projoct leam Internal risks are financial, external risks are are nce-financial Some of the above Internal risks are those under the control of the PM external risks are outside his or her contrel. A convex utility function represents The diminishing return I was signing too mny staff to a task None of the answers A complicated electrical power agreement Risk proneness Risk aversion The project schedule is originally designed without concern for constraints. Resource constraints affect this schedule. What do resource constraints reflect? The critical path cannot foat in time The availability of financing to compiete the mext peoject phase The availability of people, equipment, and materials All of the answers The BAC can only be exceeded if you change onder is e The project schedule is originally designed without concern for resource. How do resource constraints affect this schedule? They can only exstend it All the above Resource constraints increase float (slack) times Resource constraints do not affect the schoduk They may either extend or contract i In crashing a schedule, allocating increased staffing to a specific work package will do what to the actual duration of that activity Not mough information to tell Always make it longer Always shorten it Usually shorten it, but may increase it Will make it more costly Will l improve the cost to duration index Why do project managers try to smooth resource profiles? To minimine human resouroes adminitrative demands Better to use resources To avoid hiring and firing To level out financial requirememts All of the answers The moment metrics used in planning resource smoothing Measure what? The compactness of a resource schodule The momentum of a resource schedule The angular velocity of a resource schedule The uniformity and compactness of a rosource schodu The uniformity of a resource scheduleExplanation / Answer
internal risk:
Internal risk are related to the project team, also they are related financially and internal risks are those under the control of project manager but external are not under his control, so according to the question some of the options are correct.
Convex utility function:
Concave utility function desribe risk averse situations whereas convex utility function describe the risk seeking situations.
Resource constraints:
The resources may be time or money, if there is no sufficient time or money the project may face the following consequences:
(1) Delay in completion of the project
(2) Resulting in more budget than allocated
(3) Affecting the critical activities
so as per the given question all the given options are correct
Resource constraints:
If the project does not consider the resources in the project which is very essential for every project, in case they are running out of material the only thing they can do is extend the project
Crashing of schedule:
Crashing of schedule means it is to crash the activity by completing it within a less time by using more resources, so the duration of the activity will be decreased and the cost of the project will be increased.
Resource smoothing:
Resource smoothing is used when the time constant is a priority,resource levelling is used when the amount of resources are a priority, the project manager should apply resource smoothing to better utilize human resources, to avoid hiring and firing and also level out financial requirements, so according to the given question the answer is all the given options
Moment metrics:
The moment metrics are developed to directly measure and quantify the impact of resource fluctuations on construction productivity and cost they directly reflect the uniformity and compactness of a resource schedule
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