Free Practice Questions for AACE International PSP Exam

 Role of Project Schedules:

Schedules primarily control time, cost, and resource allocations.

Quality management is related to design specifications and execution standards, not directly managed by schedules.

 PSP Study Guide References:

The guide clarifies the limitations of scheduling tools in managing quality aspects​.

 Conclusion: The correct answer is A, as project schedules do not directly control quality.

 Impact of Overrun:

Drafting (Activity C) and manufacturing (Activity D) are critical path activities.

A 5-day overrun in drafting consumes all available time for manufacturing.

Therefore, manufacturing cannot be delayed without affecting the release of the product.

 Verification with PSP Guidelines:

The PSP Study Guide specifies that critical path activities have zero float, so delays propagate directly to the project finish (Ref: PSP Study Guide, Chapter 2A: Critical Path and Float).

When detailed estimates are unavailable, historical production rates can provide reliable data for estimating durations based on past projects with similar work.

Option A (Eichleay formula) is for overhead cost allocation.

Option C (Time impact analysis) evaluates delay impacts, not durations.

Option D (Black-Scholes model) is irrelevant in this context.

Historical data usage is a recognized method in project planning and scheduling practices​​.

 Understand Free Float:

Free float is the time an activity can be delayed without delaying the start of its immediate successor.

 Review Activity F in the Diagram:

Activity F has a successor that starts later, providing room for 2 months of free float.

 Cross-Verification:

Option A: Incorrect. Overestimates the float.

Option B: Incorrect. No float is incorrect for F.

Option C: Incorrect. 1 month is insufficient.

Option D: Correct. Matches the calculated free float for Activity F.

The number of workdays between two milestones, such as Product Testing and Product Available, is calculated by considering the activity durations, dependencies, and any calendar constraints (PSP Study Guide, Subchapter 2.2.3, "Durations"). If the activities are continuous and there are no interruptions such as holidays, the total duration would sum to 100 days based on the provided schedule.

The early finish date and total float are determined using CPM calculations. The PSP Study Guide outlines that early finish is calculated as the early start date plus activity duration, adjusted for calendar constraints (PSP Study Guide, Subchapter 2.2.5, "Constraints and Calendars").

Steps:

Determine early start using forward pass calculations.

Add the activity duration.

Consider non-working days or holidays as per the project calendar.

Calculate float as the difference between late start and early start or late finish and early finish.

 Role of Constraints:

Constraints impose specific conditions on schedule events or activities, such as fixed start dates or imposed milestones.

These are external to the natural logic relationships established in a network (e.g., predecessor-successor relationships).

 PSP Study Guide References:

The guide describes constraints as independent factors that override logic-based sequencing when necessary​.

 Analysis of Options:

Option A and C: Constraints impact both forward and backward passes, not exclusively one.

Option D: Constraints supersede activity logic rather than being overruled by it.

 Conclusion: The correct answer is B, as constraints operate independently of project logic relationships.

 Volume of Concrete per Column:

Each column requires 2,000 cubic feet of concrete.

 Lift Bucket Capacity:

Each lift bucket holds 40 cubic feet.

 Calculate Number of Lifts per Column:

Number of Lifts = Volume of Concrete ÷ Bucket Capacity = 2,000 ÷ 40 = 80 lifts.

 Cross-Verification:

Option B (50 lifts): Incorrect. Miscalculates required lifts.

Option C (5 lifts): Incorrect. Unrealistic for 2,000 cubic feet.

Option D (20 lifts): Incorrect. Underestimates.

Option A (80 lifts): Correct.

Retaining existing logic means preserving the original relationships and dependencies defined in the schedule. Even if progress is recorded out of sequence, calculations adhere to the pre-established logic unless explicitly changed.

Option B reflects adjustments for out-of-sequence progress but contradicts the original logic requirement.

Option C imposes restrictions that do not align with typical CPM calculations.

Option D is incorrect as the concept exists​​.

The PSP Study Guide discusses the importance of maintaining logic integrity in CPM scheduling​.

 Resource Leveling:

Resource leveling adjusts start and finish dates of activities to resolve resource conflicts or constraints, balancing availability and demand.

In construction projects, breaks in continuity of work for subcontractors can result in increased costs due to remobilization and demobilization.

 PSP Study Guide References:

The PSP guide explains that resource leveling must be carefully analyzed to avoid disruptions in work continuity​.

 Conclusion: The correct answer is A, as the scheduler must account for potential cost implications of resource leveling on subcontractors.