AACE International AACE-PSP Exam Questions Instant Access

Question 1

When should the Project Plan have incorporated the relevant interfaces and requirements of the project contract documents?

ADuring the Bid Phase

BBefore the commercial decision to bid on the project

CAf1er the award and before the NTP

DAfter the NTP

Answer : B

Question 2

Baseline schedule can be submitted only__________.

Aat the beginning or the construction

Bonce the project gets impacted try change

Conce the design for the construction gets approved

Donce the safety quality and insurance requirements are met

Answer : A

Question 3

Each of the following accurately describes total float in a schedule EXCEPT:

AThe amount of time an activity can be delayed without delaying the overall project completion time.

BCan be positive or negative.

CThe amount of time an activity can be delayed without delaying the start or occurrence of any other activity or event in the network.

DComputed for an activity by subtracting its early finish from its late finish, or its early start from its late start.

Answer : C

Total float measures the flexibility in an activity's timing within a schedule. It is defined as the amount of time an activity can be delayed without affecting the project's overall completion date or the completion date of any of its successors.

Option A, B, and D accurately describe total float: it is calculated as the difference between early and late start/finish dates, can be positive or negative, and is associated with project completion.

Option C describes free float, not total float, and thus is incorrect.

Question 4

Using the "normal" schedule, theoretically construct a hammock for activities 6001-6003. What is the duration of the hammock?

A407 days

B362 days

C255 days

D267 days

Answer : B

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.

Calculate the Duration:

Earliest Start of Activity 6001 Latest Finish of Activity 6003.

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

Cross-Verification with Answer Options:

Option A: Incorrect. Overestimates.

Option C: Incorrect. Underestimates.

Option D: Incorrect. Underestimates.

Option B: Correct. Matches the calculated duration.

Question 5

At a minimum, periodic reporting must be done at what interval?

AMonthly.

BAs requested by the project manager.

CAs requested by the owner.

DAs specified in the contract documents.

Answer : D

Periodic reporting intervals are governed by contractual requirements to ensure consistency, transparency, and compliance.

While monthly reporting (Option A) is common, the exact frequency depends on contractual agreements.

Requests by the project manager (Option B) or owner (Option C) are secondary to stipulated contractual obligations.

The PSP Study Guide highlights the importance of adhering to contractually specified intervals for periodic reporting to align all stakeholders.

Question 6

Determine the correct formula and date for the late finish for Activity 6002.

ALS of 6003 plus 1 day equaling 09 Mar 2023

BLS of 6003 less 1 day equaling 09 Mar 2022

CLS of 6003 less 1 day equaling 09 Mar 2023

DLS of 6003 plus 1 day equaling 09 Mar 2022

Answer : C

Determining the Late Finish (LF) of Activity 6002 involves analyzing its successor activity, 6003, and considering the lag (if any).

By subtracting 1 day from the Late Start (LS) of 6003, the Late Finish (LF) of 6002 is derived. The date calculation aligns with this logic, making 09 Mar 2023 the correct date.

Reference: PSP Study Guide, Section 2.2.5 -- Constraints and Calendars, and Appendix A -- Example CPM Problems, which detail LF and LS calculations.

Question 7

What is a critical path method schedule?

AList of work to be accomplished by responsible party and when it is to be accomplished

BThe timeline of the riskiest work

CA graphical means of showing the important work

DA network diagram of logically interconnected activities

Answer : D

Definition of a Critical Path Method (CPM) Schedule:

CPM schedules are based on network diagrams that logically link activities, showing the sequence and dependencies between them.

These schedules identify the critical path, which is the longest path through the network, determining the project's shortest possible duration.

Evaluation of Options:

Option A: Incorrect. While CPM schedules do include tasks and timelines, the defining feature is the logical interconnection of activities.

Option B: Incorrect. CPM schedules are not limited to 'risky' work; they show all activities.

Option C: Incorrect. CPM schedules use network diagrams, not just graphical representations.

Option D: Correct. The network diagram is the key characteristic of CPM schedules.

AACE International Planning & Scheduling Professional (PSP) AACE-PSP Exam Questions