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IAI Actuarial Core Principles · Business Management · Mission, business strategy, teamwork and time management

Ananya leads a three-person team at a Chennai general insurer. Her team must finish a claims analysis in 12 working days. Her tasks are: data cleaning (3 days), modelling (5 days, which can begin only after data cleaning), and report drafting (4 days, which can begin only after modelling). Which is the best statement about planning?

The tasks are sequential, so the critical path is 3 + 5 + 4 = 12 days, which equals the deadline. There is no slack, and any delay in any task delays the whole project, so Ananya must monitor each step closely.

  1. AThe critical path takes 12 days, so there is no slack and any delay to these tasks delays the projectCorrect
  2. BThe critical path takes 8 days, leaving 4 days of slack
  3. CReport drafting can run in parallel with modelling, saving 4 days
  4. DData cleaning has slack because it is the shortest task
  5. Modelling can be skipped if the report starts early

Explanation

The tasks are sequential: 3 + 5 + 4 = 12 days. This equals the deadline, so there is zero slack. Report drafting depends on modelling, so it cannot run in parallel, and task length does not create slack.

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