AACE-PSP Online Practice Questions and Answers

You are developing a detailed critical path schedule for a proposed petrochemical plant. The schedule will become a part of the project baseline document, which will be sent to the company's board of directors for its consideration. What document or resource is likely to be MOST valuable in determining the schedule's work activity durations?

A. Industry publications.

B. Critical path schedules prepared by you for similar completed projects.

C. The Petrochemical Industry New Plant Task Duration Handbook.

D. The cost estimate for the plant prepared by your firm's estimating department.

Which of the following will NOT affect the total float calculation of a non-resource leveled schedule?

A. Multiple calendars.

B. Start and finish constraints.

C. Preferential logic.

D. Front end loading.

At the end of month one, did the delay to the parking structure foundation delay the project?

A. NO.

B. Yes, by 4 calendar days.

C. Yes, by 14 calendar days.

D. Yes, by 9 calendar days.

If a detailed estimate is NOT available to assist in the formulation of activity durations but unit quantities have been identified, what information can be utilized to estimate work package/activity durations?

A. The Eichleay formula

B. Historical production rates

C. Time impact analysis

D. Black-Scholes model

Scenario:

The entire network consists of the following activities and relationships. Activity A is twenty days long and is tied to Activity B, a ten-day activity, with a finish-to-finish tie with a lag value of five Activity B is tied to Activity C, a twenty-day activity, with a start-to-start relationship with a lag value of five.

PSP Activities Table Scope Known about Rock-Filled Dam Project: The dam requires river diversion and work over two or more rainy seasons. The contract is lump sum, competitively bid, and will be self-performed. The owner has attempted to shift all risk to the contractor by employing "no differing sit

conditions" and "no damage for delay" clauses. There is a bonus/penalty provision of $2,500 per calendar day for early or late delivery. The early completion bonus is capped at $500,000, with no cap for late delivery penalty.

Liquidated damages end at the finish of demobilization. Indirect costs per calendar day are $2,800 for the "normal" schedule and $3,200 for the "crashed" schedule. The winter/wet weather season is 151 days between October 15 and March 25 of each year, reduces the efficiency of the contractor's operations by 20% and costs the contractor $10,000 per day. Assume a start date of March 5, 2001 and use a 7-day work week. The following table lists work activities as planned by the contractor. Theoretically construct a summary activity for only those activities with a finish-to-start relationship for Activities 8001 through 10001. Using the "normal" schedule, what is

the cost of this hammock?

A. $420,000.

B. $307,000.

C. $524,000.

D. $552,000.

Each column must be poured in one day. Each column requires 2,000 cubic feet of concrete. The lift bucket has a capacity of 40 cubic feet. How many lifts will be required per column pour?

A. 80 lifts

B. 50 lifts

C. 5 lifts

D. 20 lifts

Midway through the project you received an executed change order for this project, adding thirty-three days to the contract for weather delays. In its simplest form, how would your next project update display the changed condition?

A. After Activity 1000, add a new Activity 1050 with a start-to-start relationship to Activity 1000, and tie the end of this new activity with a finish-to-finish relationship to the final activity of the project.

B. After Activity 1000, add a new Activity 1010 with a finish-to-start relationship to Activity 1000, and tie the end of this new activity with a finish-to-start relationship to the final activity of the project.

C. After Activity 1001, add a new Activity 1011 with a finish-to-start relationship to Activity 1000, and tie the end of this new activity with a finish-to-start relationship to the final activity of the project.

Using the "normal" schedule, given Activity 3001 and the relationship with Activity 4001, what is indicated?

A. These activities are concurrent with Activity 4001 starting 15 days after the start of Activity 3001.

B. These activities are concurrent with Activity 4001 starting 15 days earlier than the start of Activity 3001.

C. The activities occur in series with a 15-day lag.

D. The activities run concurrently.

Due to a testing delay, release of the product for manufacture is delayed by 5 workdays and the product manual misses its print window at the printer. If the printer is delayed by 10 workdays, what is the delay to produce release?

A. 15 days.

B. 0 days.

C. 5 days.

D. 10 days.

Determine the correct formula and date for the late finish for Activity 2002.

A. LS.2003 - 1 day -> 11.06.01.

B. LS.2003 - 1 day -> 10-06-01.

C. LS.2003 + 1 day -> 10-07-01.

D. LS.2003 - 1 day -> 10-05-01.