CMA Intermediate · Operations Management and Strategic Management · Project Management, Monitoring and Control
The critical path of a project at Kaveri Constructions consists of three activities with expected times of 10, 14 and 16 days, and variances of 1, 4 and 4 respectively. What is the standard deviation of the project duration?
The standard deviation is 3 days. Variances along the critical path add up to 1 + 4 + 4 = 9, and the square root of 9 is 3. Standard deviations themselves cannot be added directly.
- A3 daysCorrect
- B9 days
- C2.65 days
- D1.73 days
Explanation
Project variance is the sum of critical path variances: 1 + 4 + 4 = 9. Standard deviation = square root of 9 = 3 days. Adding the individual standard deviations (1 + 2 + 2 = 5) would be wrong, as it is variances that add.
Did you get it right without looking?
One question tells you little. A timed set on Project Management, Monitoring and Control shows your real accuracy, how long you take and where you lose marks.
More Project Management, Monitoring and Control questions
- In the time-cost trade-off curve for a project, as the project duration is progressively reduced by crashing, how do total direct costs and …
- A project has a budgeted cost of work scheduled (planned value) of ₹8,00,000 to date, earned value of ₹6,40,000 and actual cost of ₹7,20,000…
- For an activity in a CPM network, the earliest start (ES) is 8 days, duration is 5 days, and the latest finish (LF) is 18 days. What is its …
- Which statement about free float and total float in a CPM network is correct?
- An activity has a normal time of 10 days at a normal cost of ₹40,000 and a crash time of 6 days at a crash cost of ₹52,000. Assuming linear …
- A project has an expected duration of 40 days with a standard deviation of 4 days on its critical path. Given the normal distribution, the a…