AACE Certification AACE-PSP Dumps | Updated Jan 01, 2022 - Real4Prep
Master 2022 Latest The Questions AACE Certification and Pass AACE-PSP Real Exam!
Introduction to Planning & Scheduling Professional (PSP) Exam
A PSP is a technical specialist in planning and scheduling with specialized experience in project planning and the production, tracking, updating, forecasting, and analysis of integrated project schedules. Under the AACE International Total Cost Management (TCM) system, the PSP leads the planning and scheduling process. A PSP can interact efficiently, both internal and external, with all project stakeholders.
In each of those chapters, the PSP Certification exam is divided into two main chapters (Planning and Scheduling) and two sections. A glimpse of all these sections could be found in the PSP exam dumps as well:
- Schedule development
- Schedule maintenance and reporting
- Planning product
- Planning development
Planning is the mechanism by which the length of the project task is added to the schedule is to define the project goals and the orderly tasks required to complete the project (the thought part) and not to be confused with scheduling.
Scheduling is a summary of when it is possible to complete each operation in a project and It must be finished to be done on schedule. The simplest of schedules displays the beginning and completion of operations of a given period in bar chart format. More complex schedules provide schedule logic, usually in CPM format, and display the critical path and floats associated with each operation. A time series of events and activities that reflect an operational timetable. The schedule describes the relative task start and end times and event occurrence times. On a calendar framework or on an elapsed time scale, a schedule can be presented.
The exam is administered through computer-based testing (CBT) and consists of questions of multiple choice and essay-style questions. This test is a closed book. Programmable or preprogrammed calculators are also allowed (including those with financial functions). See the PSP practice exams to understand the paper format. This exam provides a framework for formally evaluating the expertise and abilities of the person in a subject against generally agreed standards. It recognizes those who have demonstrated their experience and expertise in planning and scheduling.
NEW QUESTION 11
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. $524,000.
- C. $307,000.
- D. $552,000.
Answer: D
NEW QUESTION 12
What is the result of a forward pass calculation?
- A. Early start and early finish date for individual activities
- B. Value of total float for individual activities
- C. Value of free float for individual activities
- D. Critical path
Answer: A
NEW QUESTION 13
Using the "normal" schedule, theoretically construct a hammock for activities 2001 through 2004. What is the duration of the hammock?
- A. 193 days
- B. 168 days
- C. 183 days
- D. 91 days
Answer: C
NEW QUESTION 14
What is a key first step in developing a critical path method schedule?
- A. Defining the execution plan to meet the required scope of work.
- B. Drawing a bar chart of the key phrases of the work.
- C. Setting out the resource to be used and its limitations.
- D. Drawing the logic diagram.
Answer: D
NEW QUESTION 15
Crane operators require 1 hour prep and 1 hour clean-up and inspection per day. There is only 1 crane operator allocated per crane. Crane operators are not allowed to work more than 8 hours a day. Lunchtime break lasts 1 hour. Assuming a 10 minute cycle time, how many lifts per day can be expected?
- A. 24 lifts
- B. 30 lifts
- C. 48 lifts
- D. 36 lifts
Answer: D
NEW QUESTION 16
Which of the following are NOT considerations or constraints of the planning process for construction scheduling?
- A. Value engineering.
- B. Project variables.
- C. Interest rate of owner's construction bonds.
- D. Consideration of all stakeholders.
Answer: C
NEW QUESTION 17
Which of the following documents is most likely to be of the LEAST value to a planner/scheduler when planning a contractor's baseline critical path schedule for the construction of a large high-clearance bridge located very near an airport? The contractor has been awarded the contract.
- A. The government's report on future high-clearance bridge projects
- B. The project geotechnical report
- C. The project plans and specifications
- D. The regulations published by the government aviation agency
Answer: A
NEW QUESTION 18
Which of the following types of delay will NOT result in a time extension and additional compensation for a contractor?
- A. Excusable delay
- B. Non-compensable delay
- C. Compensable delay
- D. Non-excusable delay
Answer: B
NEW QUESTION 19
The sum of all budgets for work scheduled to be accomplished within a given time period is the
____________.
- A. Budgeted cost of work performed (BCWP)
- B. Budgeted cost of work scheduled (BCWS)
- C. Estimate at completion (EAC)
- D. Budget at completion (BAC)
Answer: D
NEW QUESTION 20
Using the "normal" schedule, what is the early finish date of activity 10002 and its total float?
- A. 12-17-03 and 4 days of float
- B. 12-27-03 and 24 days of float
- C. 12-18-03 and 25 days of float
- D. 12-18-03 and 4 days of float
Answer: A
NEW QUESTION 21
Identify the minimum project duration.
- A. 19 months.
- B. 20 months.
- C. 16 months.
- D. 21 months.
Answer: B
NEW QUESTION 22
Which of the following will always describe the critical path? The path with
- A. Zero float.
- B. The shortest duration and negative float.
- C. Negative float.
- D. The longest duration through the network.
Answer: A
NEW QUESTION 23
In its simplest form, what is the main drawback of critical path method scheduling?
- A. It assumes that resources are unlimited.
- B. It doesn't account for interdependent between activities.
- C. It allows for Precedence Diagramming Method to be used in place of Arrow Diagramming Method.
- D. It requires a backward pass to calculate late dates.
Answer: A
NEW QUESTION 24
What is the workweek period for this project?
- A. Monday through Saturday
- B. Monday through Friday
- C. Sunday through Saturday
- D. Sunday through Friday
Answer: C
NEW QUESTION 25
In analyzing a logical chain of activities in a critical path method (CPM) schedule, what do differing total float values within that chain typically indicate?
- A. The schedule has too much detail to reflect an accurate critical path.
- B. Different calendars are assigned to certain activities in the logical chain.
- C. The schedule is projecting an "early completion".
- D. Certain activities in the critical path have no successors.
Answer: D
NEW QUESTION 26
Management has determined the need to release the product 20 days earlier than planned. What tasks need to be expedited?
- A. Printing the Manual.
- B. Drafting and Proofing the Manual.
- C. Testing, Manufacturing and Packaging.
- D. Packaging only.
Answer: C
NEW QUESTION 27
If drafting of the product manual overruns its planned duration by 5 days, how many days may the manufacturing be delayed without affecting release of the product?
- A. 10 days.
- B. 5 days.
- C. 0 days.
- D. 15 days.
Answer: C
NEW QUESTION 28
Which of the following is NOT required when performing weekly or monthly schedule updates?
- A. Original duration of activities.
- B. Percent complete.
- C. Remaining duration of activities.
- D. Actual finish of activities.
Answer: C
NEW QUESTION 29
When reconstructing a CPM schedule electronically from a hardcopy, which of the following is NOT required to determine the critical path?
- A. Detailed listing of working days for each calendar used
- B. Predecessor and successor listing with logic type and lag duration, preferably sorted by activity ID
- C. Assigned party responsibility for each work task
- D. Tabular listing of activities showing duration, calendar ID, early and late dates
Answer: C
NEW QUESTION 30
......
A fully updated 2022 AACE-PSP Exam Dumps exam guide from training expert Real4Prep: https://www.real4prep.com/AACE-PSP-exam.html
Practice To AACE-PSP - Real4Prep Remarkable Practice On your Planning & Scheduling Professional (PSP) Exam Exam: https://drive.google.com/open?id=1yN1S9E3OEzHnM9SSNqyqsQBl4ngdkI3h