PSP Exam Dumps - Planning & Scheduling Professional (PSP) Exam

ï‚· Activity-specific costs in CPM schedules typically include direct expenses like materials (C), field-related overhead (D), and specific schedule management tasks (B).

ï‚· Home office expenses are classified as indirect costs and are not associated with any specific activity within the project schedule. They are accounted for in broader financial statements rather than in the activity-based budget.

 References: PSP Study Guide, Section 1.3.10 – Cost Estimate Development, explains how costs are categorized and assigned in schedules.

 The Critical Path comprises the sequence of activities that directly impact the project’s completion time.

ï‚· If only the last half of Activity B delays the subsequent activities, then this portion lies on the critical path.

 References: PSP Study Guide, Section 2.4.3 – Schedule Analysis, emphasizes identifying segments of activities that are critical due to dependencies and float values.

ï‚· Understand the Concept of a Hammock Activity:

A hammock activity spans over multiple activities and reflects the cumulative duration from the earliest start to the latest finish of the grouped activities.

 Activities in the Hammock (6001–6003):

Activity 6001: Duration = 102 days, FS relationship with successor.

Activity 6002: Duration = 140 days, FS with 6001.

Activity 6003: Duration = 115 days, FS with 6002.

ï‚· Calculate the Duration:

Earliest Start of Activity 6001 → Latest Finish of Activity 6003.

Total duration = 102 + 140 + 115 = 362 days.

ï‚· Cross-Verification with Answer Options:

Option A: Incorrect. Overestimates.

Option C: Incorrect. Underestimates.

Option D: Incorrect. Underestimates.

Option B: Correct. Matches the calculated duration.

 The Late Finish (LF) for an activity in CPM is determined by adding the activity’s duration to its Late Start (LS).

 For Activity 9004, if its Late Start is known, adding the activity’s 72-day duration gives the Late Finish date.

 References: PSP Study Guide, Section 2.2.4 – Relationships and Calculations, highlights the importance of forward and backward pass calculations to determine ES, EF, LS, and LF.