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1.“The shortest total length of a project is determined by the longest path through the network.” Explain the concept behind this statement.
Why does the longest path determine the shortest project length?
Explain through examples.
2. Define “critical path.” Discuss why it is so important to the project schedule.
3. How important is it for an organization to understand its tolerance for risk? Have you seen your company select or bail on projects because of risk?
4.Sometimes there are “high class problems” (that is, risks that are positive). What is an acceptable risk and how would you determine this?
What alternatives are available to respond to these kinds of risks? Please give examples.
5.Do you agree with the following statement: “With proper planning it is possible to eliminate most/all risks from a project”? Why or why not?
6.Explain the importance of slack in terms of project schedules. What is lead/lag time, and what is its role in the project schedule? Share an example of each that you might find in a project.
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