Free Practice Questions for AACE International PSP Exam

To calculate the completion day for Activity C:

Reduce Activity A's duration by five days.

Recalculate dependent activities' start and finish times using forward pass logic (PSP Study Guide, Subchapter 2.2.4, "Relationships").

Sum up the adjusted durations to determine the completion day for Activity C.

This aligns with the logic of schedule adjustments and dependencies as outlined in the PSP Study Guide.

 Purpose of the Work Breakdown Structure (WBS):

The WBS organizes the project into manageable components, breaking it down to the smallest defined work packets or work packages.

These packages serve as the foundation for schedule and cost management.

 PSP Study Guide References:

The WBS is discussed as the primary organizational tool to define the scope, cost, and activities of a project​.

 Conclusion: The correct answer is D, as the WBS is used to organize the smallest work packages.

To calculate the duration:

Total hours required: 240 hours.

Daily work hours per crew: 5 workers × 8 hours/day = 40 hours/day.

Duration = Total hours ÷ Daily work hours = 240 ÷ 40 = 6 days.

This calculation aligns with standard resource planning principles​.

 Understand Total Float:

Total float is the amount of time an activity can be delayed without affecting the project completion date.

 Review the Network Diagram and Logic:

Activity F is not on the critical path, which allows for flexibility.

Analyzing the paths and slack in the diagram confirms that Activity F has the most total float.

 Cross-Verification:

Option A: Incorrect. Activity I is on the critical path with no float.

Option B: Incorrect. Activity C is not the most flexible.

Option D: Incorrect. Activity D has limited slack.

Option C: Correct. Activity F has the maximum total float.

 Scenario Review:

Delay in the parking structure foundation is an off-critical path activity.

No impact on the overall project completion date.

 Delay Analysis:

While the foundation activity is delayed, the float ensures that no downstream activities are impacted.

 Cross-Verification:

Option B: Incorrect. Assumes a 4-day impact.

Option C: Incorrect. Overestimates delays.

Option D: Incorrect. Miscalculates delays.

A cost-benefit analysis for a subcontractor like SUBCO should focus on tangible and direct impacts to the project, including their labor and equipment rates, the potential for liquidated damages in the SDOT contract, and logistical concerns such as distance from the project site (PSP Study Guide, Section 1.2.4, "Project Variables"). Pending negotiations with a different entity, such as GOUGE, are unrelated to SUBCO’s contract evaluation and are therefore not a consideration.

The cumulative cost baseline typically forms an "S" curve, reflecting slow initial expenditures, accelerating progress during peak activities, and tapering off as the project concludes.

Option A, B, and D do not represent the characteristic shape of a project's cost curve.

The PSP Study Guide highlights the "S" curve as a standard graphical representation of cumulative project costs over time​.

Best Practices for Change Management Plans:

Effective plans are developed in the planning phase, ensuring all stakeholders understand how changes will be managed.

Evaluation of Options:

Option A: Incorrect. Stakeholders are involved during development, not just after.

Option C: Incorrect. A change management plan focuses on significant changes, not minor decisions.

Option D: Incorrect. It involves all stakeholders, not just the project controls team.

Option B: Correct. Change management plans are part of project planning.