Part -1:

1. Give at least 10 examples of resources.

2. Think about a project that you are currently working on or have worked on. List all of the resources used in this project.

3. Discuss why resources need to be considered when developing a schedule.

4. Describe how resources can be considered when creating a network diagram.

5. What are technical constraints? Give some examples.

6. What are resource constraints? Give some examples.

7. Describe what is meant by resource leveling or smoothing. Why is it used? When is it used?

8. Does resource leveling keep a project on schedule? If so, how?

9. Describe what is meant by resource-limited scheduling. Why is it used? When is it used?

10. Does resource-limited scheduling keep a project on schedule? If so, how?

Part -2:

1. Describe why it is necessary to develop a baseline budget for a project.

2. List and describe items that should be included when estimating activity costs.

3. What does the term contingencies mean? Should contingency costs be included in a project proposal? Explain your answer.

4. What is the problem with making cost estimates too conservative or too aggressive?

5. Describe the project budgeting process.

6. Define the following: TBC, CBC, CAC, CEV, CPI, CV, and FCAC. How is each calculated?

7. Why is it necessary to track actual and committed costs once a project starts?

8. Why is it necessary to calculate the earned value of work performed? How is this done?

9. Give an example of calculating a cost performance index. What does it mean when the CPI is below 1.0? What does it mean when the CPI is above 1.0?

10. What does it mean when cost variance is negative? What does it mean when cost variance is positive? When evaluating a work package with a negative cost variance, on what two types of activities should you focus? Why?