PSP Exam Dumps - AACE International Professional Level Certifications Questions and Answers

 Late Start Formula:

Late Start (LS) is calculated as LF−DurationLF - \text{Duration}LF−Duration.

For Activity 11001: LF−25=16Jan2024LF - 25 = 16 Jan 2024LF−25=16Jan2024.

 Cross-Verification with PSP Guidelines:

This formula aligns with the PSP methodology for backward pass calculations, where late start is directly computed from late finish and duration values (Ref: PSP Study Guide, Chapter 2A: Schedule Analysis).

The early finish date and total float are determined using CPM calculations. The PSP Study Guide outlines that early finish is calculated as the early start date plus activity duration, adjusted for calendar constraints (PSP Study Guide, Subchapter 2.2.5, "Constraints and Calendars").

Steps:

Determine early start using forward pass calculations.

Add the activity duration.

Consider non-working days or holidays as per the project calendar.

Calculate float as the difference between late start and early start or late finish and early finish.

 Total Float Analysis:

Total float = Late Finish (LF) - Early Finish (EF) or Late Start (LS) - Early Start (ES).

Activity C (Draft Product Manual) lies on the critical path, so its float is 0.

 Verification with PSP Guidelines:

The PSP Study Guide defines total float as the amount of time an activity can be delayed without delaying the project (Ref: PSP Study Guide, Chapter 2A: Float Analysis).

 A hammock activity encompasses a group of tasks (6001 through 6003), connecting them to a governing predecessor (4001) and successor (9004).

 The governing predecessor and successor are determined by examining logical dependencies in the schedule network.

 References: PSP Study Guide, Section 2.2.8 – Schedule Quality Analysis, addresses hammock activities and their integration into logical networks.

 A WBS summary activity aggregates costs of constituent activities (2001 through 2004).

 By summing the costs of activities as outlined in the schedule, the total cost for the WBS summary activity is calculated as $321,000.

 References: PSP Study Guide, Section 1.3.7 – Establish Work Breakdown Structure, elaborates on cost consolidation at WBS levels.

Activities not on the critical path are those with positive float, meaning they can be delayed without affecting the overall project completion time. The determination of such activities requires performing a forward and backward pass calculation as per CPM (Critical Path Method) analysis principles (PSP Study Guide, Section 2.2.4, "Relationships").

For example:

Identify the critical path by analyzing total float values (typically, critical path activities have zero total float).

Exclude activities that do not fall on the critical path.

To reconstruct a CPM schedule electronically and determine the critical path, the following are essential:

Detailed listing of working days for each calendar (Option A): Ensures accurate scheduling across varying work periods.

Predecessor and successor relationships (Option B): Establishes logic and dependencies.

Tabular data including early/late dates (Option D): Necessary for computing float and identifying the critical path.

Assigned party responsibility (Option C) is important for resource management but not required to calculate the critical path​​.

 Understand Free Float:

Free float is the time an activity can be delayed without delaying the start of its immediate successor.

 Review Activity F in the Diagram:

Activity F has a successor that starts later, providing room for 2 months of free float.

 Cross-Verification:

Option A: Incorrect. Overestimates the float.

Option B: Incorrect. No float is incorrect for F.

Option C: Incorrect. 1 month is insufficient.

Option D: Correct. Matches the calculated free float for Activity F.