Could you please provide correct option for these questions and why?

**1.During project planning, you are presented with the following diagram that depicts a cumulative likelihood distribution for the duration of a project**

image 1 What kind of conclusion can you draw from the information depicted in it?

1.The likeliness that the project will finish exactly at the date marked with “Deadline” is 80%.

2.The likeliness that the project team will exceed the date marked with “Deadline” is at 80%.

3.If the project team will meet the deadline, project costs will be 80% of the budgeted costs.

4.The likeliness that the project team will meet the deadline or will finish earlier is at 80%.

**2.The sales representative of your company recently contacted you. You made some estimates on direct costs for an offer on a firm fixed-price contract. According to company policies, indirect costs (overheads) are to be calculated as a percentage of the direct costs, the sum of both cost types caused him to calculate a far too high price. How should you not react?**

1. You reduce your direct cost estimates by reducing the amount of work and the rates allocated to them. This allows a reduction of the overhead costs and a lower price.

2.Calculating overheads as a percentage of direct costs is just a model to simplify calculations. A more specific analysis of these costs may lead to a more realistic project price.

3.Cost estimates are quantitative assessments of the probable costs required to complete project work. These are made by the project team. It is the sales person’s job to make the price.

4.You make the sales person aware that a reduction of direct costs may reduce the numbers for overhead cost allocation, but will not influence the actual overheads.

1

**3. A project was assessed and the following earned value data have been found: PV: $750,000 EV: $750,000 AC: $900,000 What is the burn rate of the project?**

1.1.20

2.1.10

3.1.00

4.0.83

**4. Together with your team, you applied three-point estimation on a critical path which consists of two activities. The following duration uncertainties are all calculated assuming a ±3sigma confidence interval. The duration uncertainty—defined as pessimistic minus optimistic estimate—of the first activity is 18 days; the second estimate has an uncertainty of 24 days. Applying the PERT formula for paths (beta distribution), what is the duration uncertainty of the entire path?**

1. 21 days

2.30 days

3. 42 days

4,No statement is possible from the information given.

Ans-2 i.e. 30 days

**5. You were able to obtain measuring equipment with very high accuracy and precision. You used it to make a sequence of measurements directly at a production process output and depicted the results on the following control chart. Which statement is the best conclusion from these results?**

Image 2 1. The process has high precision but low accuracy. It should be adjusted.

2. The process has high precision but low accuracy. It should be improved.

3. The process has high accuracy but low precision. It should be adjusted.

4. The process has high accuracy but low precision. It should be improved.

Thanks,

Aarti