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CNIT 480 Exam Questions – Scheduling CPM PERT Cost Risk Procurement Answers, Information Technology

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This document contains approximately 320 exam questions with correct answers for CNIT 480 Exam 2, focusing on advanced IT project management topics such as schedule development, cost management, quality management, risk analysis, and procurement processes. The material is presented in a structured question-and-answer format, making it highly effective for exam preparation, concept mastery, and practical application of project management techniques. The content provides in-depth coverage of project scheduling techniques, including PERT, Critical Path Method (CPM), Critical Chain scheduling, slack calculations, and resource leveling, emphasizing how to build and optimize project timelines (pages 1–8). It also explains schedule optimization strategies such as crashing and fast tracking, along with calculations like ES, EF, LS, and LF, which are essential for identifying and managing critical paths (pages 4–6). Additionally, the document thoroughly explores project cost management, including cost estimation, budgeting, direct vs indirect costs, fixed vs variable costs, and financial decision-making concepts such as opportunity cost and life cycle costing (pages 9–13). It integrates time and cost planning processes, helping students understand how to create realistic budgets and project baselines. A major portion of the material focuses on quality management frameworks, including ISO standards, Total Quality Management (TQM), Six Sigma, and key contributors such as Deming, Juran, Crosby, and Ishikawa. It also covers cost of quality, process improvement, and statistical methods used to ensure product and service quality (pages 14–27). Further sections provide comprehensive coverage of communication management and risk management, including risk identification, qualitative and quantitative analysis, probability-impact matrices, Monte Carlo simulations, and risk response strategies (pages 33–50). The document also explains procurement management in detail, including make-or-buy decisions, contract types (fixed price, cost-reimbursable, time and material), Service Level Agreements (SLA), and Statements of Work (SOW) (pages 51–60). This resource is ideal for undergraduate students enrolled in CNIT 480, Information Technology, Project Management, Computer Information Systems, and Software Engineering courses. It is particularly useful for students preparing for exams, certifications (such as PMP fundamentals), and careers in IT project management, business analysis, or systems development. The content aligns closely with widely used textbooks such as Information Technology Project Management by Kathy Schwalbe and the PMBOK Guide by the Project Management Institute (PMI), making it an excellent companion to lectures, textbooks, and professional certification preparation. Keywords: project scheduling, PERT, CPM, critical path, critical chain, resource leveling, cost management, project budgeting, quality management, six sigma, total quality management, risk management, probability impact matrix, monte carlo simulation, procurement management, contracts, SLA, SOW, project communication, IT project management

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Institution
CNIT 480
Course
CNIT 480

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CNIT 480 Exam 2 2026 Exam
Questions and Correct Answers |
New Update



Schedule Development - 🧠 ANSWER ✔✔Use results of the other time

management processes (activity definition, sequencing, estimating) to

determine the start and end date of the project




Determines the planned start and completion dates for each activity listed

on the WBS

,Schedule Development deliverable - 🧠 ANSWER ✔✔project schedule


Tools used for schedule development - 🧠 ANSWER ✔✔o PERT


o Critical Path Method (CPM)

o Critical Chain Method (CCM)

o Resource Leveling


Schedule Benefits - 🧠 ANSWER ✔✔· Creates a consistent framework

which can be followed from project to project and during the execution of

the project

· Illustrates the interdependencies of each activity on the WBS

· Facilitates communication within the project team and between the team

and stakeholders

· Aides in the identification of "Critical" activities

· Aides the project manager to evaluate all alternatives and their impact

when making scheduling changes during the project

· Reduces the amount of resource scheduling conflicts

· Provides visibility to those tasks that can or must be run in parallel to keep

the project on track

,· Facilitates "what if" analysis (Mandatory/discretionary activities)


The Program Evaluation and Review Technique (PERT) - 🧠 ANSWER ✔✔·

Developed by the U.S. Navy in cooperation with the consulting firm Booz-

Allen Hamilton for the Polaris missile/submarine project in 1958 to help

organize the activities of 11,000+ contractors

· Uses a weighted average approach or beta probability distribution to

capture the three-point estimates discussed in previous lecture (optimistic,

most likely, and pessimistic) for activity duration

· The weighted averages for each activity are added to the network

diagram to show the start dates and finish dates for each and the final

project end date


Critical Path Method (CPM) - 🧠 ANSWER ✔✔· Uses the sequence and

duration of activities to determine the total project duration

· A critical path for a project is the series of activities that determines the

earliest time by which the project can be completed

· Produces two key pieces of information:

1) the amount of slack or also referred to as float for each activity in the

schedule and


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, 2) the longest path through the schedule or said another way - the shortest

time the project can be completed


Slack - 🧠 ANSWER ✔✔· The difference between the earliest time an

activity can begin and the latest time an activity can begin without changing

the completion date of the project

· In most projects of any size, there is typically one critical path which

means that all of the other paths have tasks with slack but,

o Theoretically a project can have multiple critical paths


Free Slack - 🧠 ANSWER ✔✔The difference between the earliest time an

activity can begin and the latest time an activity can begin without changing

the completion date of any successor task


2 Method to Finding the Critical Path - 🧠 ANSWER ✔✔1. Calculate slack for

each activity on the WBS using a network diagram, or

2. Find the longest path through the network diagram


Calculating ES, EF, LS, LF - 🧠 ANSWER ✔✔· The calculation is performed

for each activity in two passes through the entire network diagram for each

path

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