Principles and Practices of Management

51. ______________ is the latest time by which an activity can be started without delaying the completion of the project.

1. EST
2. EFT
3. LST
4. LFT

View answer

52. An activity which must be completed before one or more other activities start is known as ______________ activity.

1. Dummy
2. Predecessor
3. Successor
4. None of these

View answer

53. ______________ is the shortest possible time in which an activity can be delayed without delaying the project.

1. Pessimistic time estimate
2. Optimistic time estimate
3. Most likely time estimate
4. None of these

View answer

54. What decision-making condition must exist for the decision tree to be a valuable tool?

1. Certainty
2. Uncertainty
3. Risk
4. It does not matter, the tool is appropriate in all environments

View answer

55. The criteria of expected monetary value is used for making decisions under

1. Certainty
2. Uncertainty
3. Risk
4. all of the above

View answer

56. The minimum expected opportunity loss is

1. Equal to EVPI
2. Minimum regret
3. Equal to EMV
4. Both (a) and (b)

View answer

57. The objective of network analysis is to

1. Minimize total project duration
2. Minimize total project cost
3. Minimize production delays, interruption and conflicts
4. All of the above

View answer

58. Decision variables are

1. Controllable
2. Uncontrollable
3. Parameters
4. None of the above

View answer

59. An optimization model

1. Mathematically provides best decision
2. Provides decision with limited context
3. Helps in evaluating various alternatives constantly
4. All of the above

View answer

60. Modern scientific management research originated during ______________

1. World war II
2. World war I
3. 1990
4. 1993

View answer