Exactprep PSP Questions

 Activity-specific costs in CPM schedules typically include direct expenses like materials (C), field-related overhead (D), and specific schedule management tasks (B).

 Home office expenses are classified as indirect costs and are not associated with any specific activity within the project schedule. They are accounted for in broader financial statements rather than in the activity-based budget.

 References: PSP Study Guide, Section 1.3.10 – Cost Estimate Development, explains how costs are categorized and assigned in schedules.

 Definition of a Critical Path Method (CPM) Schedule:

CPM schedules are based on network diagrams that logically link activities, showing the sequence and dependencies between them.

These schedules identify the critical path, which is the longest path through the network, determining the project's shortest possible duration.

 Evaluation of Options:

Option A: Incorrect. While CPM schedules do include tasks and timelines, the defining feature is the logical interconnection of activities.

Option B: Incorrect. CPM schedules are not limited to "risky" work; they show all activities.

Option C: Incorrect. CPM schedules use network diagrams, not just graphical representations.

Option D: Correct. The network diagram is the key characteristic of CPM schedules.

 Critical Path Characteristics:

The critical path is the longest path through the network, defining the minimum project completion time. It cannot be the shortest path.

 PSP Study Guide References:

Critical path analysis emphasizes that it is determined by network logic and represents the chain of activities controlling the project duration​.

 Analysis for Selection:

Option A, C, and D: Accurately describe the critical path.

Option B: Incorrect; the critical path is not the shortest path.

 Conclusion: The correct answer is B, as the critical path is the longest path, not the shortest.