Free AACE International PSP Practice Exam with Questions & Answers | Set: 3

 Delay Analysis:

Analyzing delays contemporaneously ensures accurate understanding of their causes and effects, helping stakeholders mitigate impacts in real time.

Waiting until after the project introduces risks of incomplete or inaccurate records.

 PSP Study Guide References:

Contemporary delay analysis is highlighted as a best practice for effective delay resolution and management​.

 Conclusion: The correct answer is B, as contemporaneous analysis is the most effective way to address project delays.

 Understanding the Problem:

The question asks which risk cannot be estimated using only a resource-loaded schedule.

A resource-loaded schedule contains detailed information about activities, resources (labor, materials, equipment), and their associated costs but does not provide external information unrelated to project resources.

 Analysis of Each Option:

A. Delay due to SDOT's other projects:

This risk depends on external factors beyond the control or visibility of the resource-loaded schedule, such as project interactions, priorities, or resource allocation managed by SDOT (the State Department of Transportation).

A resource-loaded schedule cannot estimate this delay, as it does not account for external dependencies or priorities outside the project's scope.

This is the correct answer.

B. Delay due to labor shortage:

A resource-loaded schedule tracks labor availability and allocation. By analyzing resource constraints, it can estimate potential delays due to labor shortages.

This risk can be estimated using the schedule.

C. Liquidated damages on the SDOT contract:

Liquidated damages are linked to project delays. A resource-loaded schedule can estimate the delay impact and calculate potential damages based on contract terms.

This risk can be estimated.

D. Cost overruns due to cement shortage:

Cement shortages directly affect the material resource allocations in the schedule. A resource-loaded schedule can estimate cost overruns by analyzing material usage and constraints.

This risk can be estimated.

 Final Answer and Justification:

Option A is correct because a resource-loaded schedule cannot consider or predict delays caused by external projects managed by other entities like SDOT.

All other risks relate to project resources or scheduling, which can be analyzed using a resource-loaded schedule.

 Study Guide Reference:

Refer to the PSP Certification Study Guide, Chapter 2 – Scheduling, sections on Schedule Maintenance and Risk Analysis (p. 209), and Resource-Constrained Scheduling (p. 163).

AACE Recommended Practice 57R-09: "Integrated Cost and Schedule Risk Analysis" provides additional insights into risks measurable through schedules.

Scheduling Professional Study Guide and Documents References

Forward Pass Calculation:

A forward pass determines the earliest start (ES) and earliest finish (EF) dates for all activities, progressing from project start to finish.

Total float is calculated later by comparing early and late dates.

PSP Study Guide References:

Forward and backward pass calculations are core elements of CPM scheduling methodology​.

Conclusion: The correct answer is B, as forward pass provides ES and EF for activities.

 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.

The time an activity can be delayed from its early start without impacting the overall project completion date is called total float.

Option A (negative float) refers to delays beyond permissible limits.

Option B (free float) refers to delays without affecting the early start of any successor.

Option D (interfering float) is a lesser-used term denoting the time available without delaying the project completion but affecting a successor’s float​.

 Late Finish (LF) Transition Rule:

Late finish (LF) is calculated by adding one day to the early finish (EF) of the final activity.

EF of Activity 11001 is given, and the late finish is simply EF+1EF + 1EF+1.

 Cross-Verification with PSP Guidelines:

PSP methodologies state that late finish is derived from the forward pass using early finish logic, with specific adjustments based on activity relationships (Ref: PSP Study Guide, Chapter 2A: Forward and Backward Pass Calculations).

 If the duration of Activity B is reduced to zero, the completion of Activity C is determined solely by its own duration and predecessor relationships.

 Without knowing the explicit network logic, it is inferred that reducing Activity B to zero does not affect Activity C’s finish on Day 50, as its relationship with other activities remains intact.

 References: PSP Study Guide, Section 2.2.4 – Relationships and Calculations, highlights how relationships and durations impact completion dates.

 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.

 Total Float Analysis:

Total float = Late Finish (LF) - Early Finish (EF) or Late Start (LS) - Early Start (ES).

Activity C (Draft Product Manual) lies on the critical path, so its float is 0.

 Verification with PSP Guidelines:

The PSP Study Guide defines total float as the amount of time an activity can be delayed without delaying the project (Ref: PSP Study Guide, Chapter 2A: Float Analysis).