Free Practice Questions for AACE International PSP Exam

 Activity Relationships:

Activity 2002 is directly succeeded by Activity 2003 in the schedule.

The late start (LS) of Activity 2003 determines the late finish (LF) of Activity 2002, adjusted by any lags or additional constraints.

 Late Finish Calculation Formula:

LF of 2002 = LS of 2003 - 1 day.

This accounts for the predecessor-successor logic and the sequence of activities.

 Date Calculation:

Late start of 2003 = 10-06-01.

Late finish of 2002 = 10-06-01 - 1 day = 10-05-01.

 Verification:

PSP guidelines emphasize that late finish values are derived by subtracting any relevant time constraints from the successor's late start (Ref: PSP Study Guide, Chapter 2A: Backward Pass Calculations)

The time an activity can be delayed from its early start without impacting the overall project completion date is called total float.

Option A (negative float) refers to delays beyond permissible limits.

Option B (free float) refers to delays without affecting the early start of any successor.

Option D (interfering float) is a lesser-used term denoting the time available without delaying the project completion but affecting a successor’s float​.

Scheduling Professional Study Guide and Documents References

Forward Pass Calculation:

A forward pass determines the earliest start (ES) and earliest finish (EF) dates for all activities, progressing from project start to finish.

Total float is calculated later by comparing early and late dates.

PSP Study Guide References:

Forward and backward pass calculations are core elements of CPM scheduling methodology​.

Conclusion: The correct answer is B, as forward pass provides ES and EF for activities.

Resource planning focuses on identifying and allocating the required materials, equipment, labor, and financial resources.

Option A, C, and D are integral to resource planning.

Option B (earned value techniques) is a project control mechanism, not a resource planning factor.

This is consistent with the scope of resource planning as described in the PSP Study Gu

Defining the execution plan is the foundational step in creating a CPM schedule. This involves understanding the project's scope of work and outlining how it will be executed to meet project objectives.

Option A (bar chart) is a visualization step but does not address planning the sequence or scope execution.

Option C (resources) comes later in schedule development after the scope and plan are defined.

Option D (logic diagram) is a subsequent step that relies on the execution plan​​.

The PSP Study Guide emphasizes scope and execution planning as critical first steps​.

Concurrency Analysis:

Activity 3001 (Excavation, Dam Site) has concurrent activities during its execution period.

Based on the schedule, 4001 (Excavation, Spillway), 5001 (Drill and Grout Dam Site), and 6001 (Rock Fill to Elevation 25) overlap with Activity 3001.

Excluded Options:

B, C, and D: Do not fully represent concurrent activities based on schedule analysis.

Verification with PSP Guidelines:Logical sequencing confirms the concurrency of these activities (Ref: PSP Study Guide, Chapter 2A: Activity Sequencing).

 Understanding the Cycle Time:

A cycle time includes all the operations needed for one complete lift:

Sling Up: 5 minutes

Hoist Up: 4 minutes

Discharge: 3 minutes

Clear Unload Area: 3 minutes

Hoist Down: 2 minutes

 Calculate Total Cycle Time:

Cycle Time = 5 + 4 + 3 + 3 + 2 = 17 minutes.

 Cross-Verification:

Option A (5 minutes): Incorrect. Excludes operations.

Option C (14 minutes): Incorrect. Underestimates.

Option D (6 minutes): Incorrect. Miscalculation.

Option B (17 minutes): Correct.

 Hammock Activities (2001–2004):

Activity 2001 ("River Diversion Stage 1"): Duration = 92 days.

Activity 2002: Starts immediately after 2001, duration = 38 days.

Activity 2003: Starts immediately after 2002, duration = 15 days.

Activity 2004: Starts immediately after 2003, duration = 38 days.

 Calculate the Duration:

Total duration = 92 + 38 + 15 + 38 = 183 days.

 Cross-Verification with Answer Options:

Option A: Incorrect. Underestimates.

Option C: Incorrect. Overestimates.

Option D: Incorrect. Overestimates.

Option B: Correct. Matches the calculated duration.

Estimate to Complete (ETC) is the forecast of additional costs required to complete the remaining project work.

Option B refers to actual costs incurred (AC).

Option C refers to Estimate at Completion (EAC), which includes both actual costs and ETC.

Option D refers to Budgeted Cost of Work Performed (BCWP).

ETC is a critical concept for forecasting and project control as described in the PSP Study Guide​​.