Free Practice Questions for AACE International PSP Exam

An effective schedule is one that is realistic, collaborative, and accepted by key stakeholders involved in project execution.

Gaining consent and agreement ensures buy-in, facilitates implementation, and minimizes disputes (Option B)​.

Frequent updates (Option A) are essential for tracking but are insufficient without team agreement.

Contract specifications (Option C) govern compliance but do not guarantee effective field use.

Large contingencies (Option D) may reduce accountability and create inefficiencies in project management.

Collaboration and stakeholder involvement, as emphasized in the PSP Study Guide, are essential for schedule usability​.

The linear scheduling velocity diagram uses time on one axis and location on the other. This graphically represents the progression of work at various locations over time.

Option C (time and rate of progress) and Option D (time and crew size) refer to related concepts but do not accurately describe the axes.

Option A (location and crew size) is unrelated.

This aligns with graphical techniques discussed for construction scheduling​.

 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.

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

 Construction Life Cycle Phases:

Common phases: planning and design, installation (execution), and turnover/start-up.

Claims and disputes may arise during the project but are not a defined phase of the construction life cycle.

 PSP Study Guide References:

The study guide outlines standard phases without including claims and disputes as a formal phase​.

 Conclusion: The correct answer is A, as claims and disputes are not an inherent phase of the construction life cycle.

Hammock Cost for Activities 2001–2004:

Activity 2001: Cost = $150,000.

Activity 2002: Cost = $25,000.

Activity 2003: Cost = $20,000.

Activity 2004: Cost = $96,000.

Calculate Total Cost:

Total cost = $150,000 + $25,000 + $20,000 + $96,000 = $271,000.

Cross-Verification with Answer Options:

Option B: Incorrect. Overstates cost.

Option C: Incorrect. Understates cost.

Option D: Incorrect. Overstates cost.

Option A: Correct. Matches the calculated cost.

References:

PSP Study Guide (2019), Section on Summary and Hammock Activities.

AACE Recommended Practices, RP 10S-90.

 As-Planned vs. As-Built (APAB) Analysis:

A simple APAB compares the planned schedule to the actual schedule to identify deviations.

It does not involve inserting delaying events or re-forecasting the schedule, which makes it unsuitable for detailed analysis.

 Limitations of APAB:

Unsuitable for complex projects (A).

Inserting delays is not part of APAB (B).

Accuracy diminishes for long projects (C) or those requiring granular mid-project analyses (D).

 Conclusion: The correct answer is B, as inserting delays into the as-planned schedule is not a feature of simple APAB analysis.

Float Calculation at Project End:

No extensions are granted, and delays accumulate.

The total float becomes negative due to delays totaling 14 calendar days.

Cross-Verification:

Option A: Incorrect. Assumes no float loss.

Option C: Incorrect. Overestimates negative float.

Option D: Incorrect. Miscalculates positive float.

Option B: Correct. Matches the calculated negative float.

References:

PSP Study Guide (2019), Critical Path Analysis and Float Management.

AACE Recommended Practices, RP 10S-90.

To constrain a project's end date, a Finish-No-Later constraint is applied to the last activity. This ensures any slippage results in negative float, signaling delays relative to the fixed deadline.

Option A and B apply to earlier constraints, which are not relevant for controlling the project's end date.

Option D applies a constraint to the first activity, not the project finish.

This concept aligns with controlling project deadlines as described in the PSP Study Guide​.