Free Practice Questions for AACE International PSP Exam

 Requirement to Expedite:

To release the product 20 days earlier, critical path activities must be expedited.

Critical path activities: A (Testing), D (Manufacturing), G (Packaging).

 Excluded Activities:

Activities like drafting (Activity C) or proofing (Activity F) are not critical and do not impact the total project duration.

 Verification with PSP Guidelines:

PSP guidelines emphasize expediting critical path tasks for schedule acceleration (Ref: PSP Study Guide, Chapter 2B: Schedule Compression Techniques).

The Project Scope Statement typically includes:

Project objectives.

Justification.

Deliverables.

However, the contract between the contractor and owner is not included directly in the scope statement. Instead, it serves as a separate legal document governing the project's terms and conditions. This distinction is clear in project scope management practices discussed in the PSP materials​​.

 Activity Details (7001 - "Permanent Roads"):

Duration: 48 days in the Normal schedule.

Precedence Diagram Information: The schedule correctly reflects the logic and relationships as FS (Finish-to-Start) with successors.

 Total Float and Dates Review:

No discrepancies are provided in the diagram.

Early Start (ES) and Early Finish (EF) align with the planned duration and dependencies.

 Validation:

Total float is not specified as incorrect.

Early Finish dates, while not explicitly displayed, do not contradict the sequence.

Start-to-Start and Finish-to-Finish relationships are correctly oriented.

 Conclusion:

The activity is correctly represented with a duration of 48 days.

 Cost for 2000 Series Activities:

Activity 2001: $150,000.

Activity 2002: $25,000.

Activity 2003: $18,000.

Activity 2004: $96,000.

Total: 150,000+25,000+18,000+96,000=289,000150,000 + 25,000 + 18,000 + 96,000 = 289,000150,000+25,000+18,000+96,000=289,000.

 Total Project Cost:

Total cost: $7,308,000 (sum of all activities in "normal" schedule).

 Percentage Contribution:

289,0007,308,000×100≈3.95%\frac{289,000}{7,308,000} \times 100 \approx 3.95\%7,308,000289,000​×100≈3.95%.

 Verification with PSP Guidelines:

The PSP Study Guide emphasizes accuracy in percentage-based cost contributions as a critical analysis tool in project cost management (Ref: PSP Study Guide, Chapter 1B: Cost Breakdown Structure).

 To eliminate Activity B from the critical path, its dependencies must change so that its delay no longer impacts the path's completion time.

 Replacing the A → B relationship with a Finish-to-Finish with Offset (FFO) and adding an FSO (Finish-to-Start with Offset) relationship from A → C allows Activity C to proceed independently of Activity B.

 References: PSP Study Guide, Section 2.2.4 – Relationships and Calculations, explains how relationship types can influence critical path determination.

 Granting Time Extensions:

Differing site conditions are excusable delays under standard contract terms, requiring time extensions.

Centrifuge delays and shop drawings typically fall under the contractor's responsibility and are not excusable.

 Excluded Options:

A & B: Shop drawing-related delays are the contractor's risk unless explicitly agreed otherwise.

D: Combining excusable and non-excusable delays does not entitle an extension.

 Verification with PSP Guidelines:

Granting time extensions aligns with contractual principles outlined in PSP-related contracts (Ref: PSP Study Guide, Chapter 1C: Delay Analysis and Claims).

 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.