2021 AACE-PSP exam torrent AACE-PSP Study Guide

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Introduction to Planning & Scheduling Professional (PSP) Exam

A PSP is a technical specialist in planning and scheduling with specialized experience in project planning and the production, tracking, updating, forecasting, and analysis of integrated project schedules. Under the AACE International Total Cost Management (TCM) system, the PSP leads the planning and scheduling process. A PSP can interact efficiently, both internal and external, with all project stakeholders.

In each of those chapters, the PSP Certification exam is divided into two main chapters (Planning and Scheduling) and two sections. A glimpse of all these sections could be found in the PSP exam dumps as well:

• Schedule development
• Planning development
• Planning product
• Schedule maintenance and reporting

Planning is the mechanism by which the length of the project task is added to the schedule is to define the project goals and the orderly tasks required to complete the project (the thought part) and not to be confused with scheduling.

Scheduling is a summary of when it is possible to complete each operation in a project and It must be finished to be done on schedule. The simplest of schedules displays the beginning and completion of operations of a given period in bar chart format. More complex schedules provide schedule logic, usually in CPM format, and display the critical path and floats associated with each operation. A time series of events and activities that reflect an operational timetable. The schedule describes the relative task start and end times and event occurrence times. On a calendar framework or on an elapsed time scale, a schedule can be presented.

The exam is administered through computer-based testing (CBT) and consists of questions of multiple choice and essay-style questions. This test is a closed book. Programmable or preprogrammed calculators are also allowed (including those with financial functions). See the PSP practice exams to understand the paper format. This exam provides a framework for formally evaluating the expertise and abilities of the person in a subject against generally agreed standards. It recognizes those who have demonstrated their experience and expertise in planning and scheduling.

Topics of Planning & Scheduling Professional (PSP) Exam

The Planning & Scheduling Professional (PSP) Exam consists of two main sections, Planning and Scheduling, each further broken down into two sub-sections. The core topics for each of the two sections are listed below. These contents are likely to be used for the examination. However, on any particular delivery of the test, other similar topics could also appear.

Applicants are recommended to use these contents and/or other resources including PSP dumps where possible to provide background information on the exam objectives. The syllabus for the Planning & Scheduling Professional (PSP) Exam is listed below with detail of each section and their topics:

1. Planning - PLANNING DEVELOPMENT

Learning Objectives:

• Scaling of the planning process must be appropriate and equally weighted to each phase of work to achieve a balanced and usable product.
• Understand the fundamental concepts of the planning process and its terminology.
• When conditions change, the planning process and deliverables should be examined and updated as necessary. The plan for one phase of a project offers a pattern for developing the plan or next phase of the project as well as the project as a whole.
• Effective implementation of a plan results in a schedule.
• Recognize that the planning process is a dynamic process repeated throughout each phase of a program or project life cycle.

Objectives covered by this section:

INPUT & DATA

• Contract types
• General and special conditions
• Delivery methods
• Constructability Methods
• Contract Requirements
• Identification of Stakeholders
• Change management

CONSIDERATIONS & CONSTRAINTS

• Stakeholder Consideration
• Identification of Resources
• Value Engineering
• Project Variables

2. Planning - PLANNING PRODUCT

Objectives covered by this section:

OUTPUT & DELIVERABLES

• Define the Project Plan
• Establish Organization Breakdown Structure
• Define the Scope of Work
• Establish Work Breakdown Structure
• Cost Estimate Development
• Baseline Plan
• Phase Definition
• Sequencing & Phase Relationship
• Define Project Goals
• Risk & Recovery Plan
• Establish Cost Breakdown Structure
• Periodic Forecasts
• Review by Stakeholders

3. Scheduling - Schedule Development

Objectives covered by this section:

Input & Data

• Cost estimation model
• Define Schedule and scope
• Breakdown structure relationships
• Feedback from stakeholders
• Schedule specification

Creating Schedule

• Milestones
• Activities
• Durations
• Cost and resources
• Types of schedule
• Constraints and calendars
• Relationships
• Schedule quality analysis
• Schedule basis documentation

4. Scheduling - Schedule Maintenance & Controlling

Objectives covered by this section:

Maintain Schedule

• Cost & resource management
• Schedule change management
• Acceleration
• Tracking schedule progress
• Schedule maintenance feedback
• Baseline scheduling

Output and Deliverables

• Variances and trends
• Progress reports and reviews
• Control level schedules
• Schedule forecasts
• Recovery schedules
• Management summary
• Constructability review
• Schedule analysis

 

NEW QUESTION 54
Activity C is a

• A. 1-day activity.
• B. Continuous activity.
• C. Milestone.
• D. Contentious activity.

Answer: C

 

NEW QUESTION 55
As a change to the network for the current update, activity 6002 is required to begin ten days after the beginning of activity 6001. Which is the simplest logic organization?

• A. A start-to-start to relationship for both activities 6001 and 6002 with a ten-day lag assigned to activity
  6002.
• B. A start-to-finish relationship with both activities 6001 and 6002 having a ten-day lag
• C. A finish-to-start relationship with a ten-day lag assigned to activity 6002; activity 6001 will be dependent on activity 6002
• D. A start-to-start relationship with a ten-day lag assigned to activity 6001; activity 6002 will be dependent on activity 6001

Answer: C

 

NEW QUESTION 56
Which letter of the alphabet best approximates the graphical shape of a project's cumulative cost baseline, or budgeted cost of work scheduled?

• A. W.
• B. S.
• C. C.
• D. B.

Answer: B

 

NEW QUESTION 57
A driving relationship is _____________________.

• A. A critical relationship.
• B. The link between a predecessor and the activity whose dates it controls.
• C. The link between two related activities.
• D. A finish-to-start relationship.

Answer: B

 

NEW QUESTION 58
The work breakdown structure is used to organize

• A. Similar activity coding of schedule activities
• B. The chart of accounts
• C. "Smart activity ID codes" representing similar items of scheduled work
• D. The smallest defined work packet

Answer: D

 

NEW QUESTION 59
What is the cycle time?

• A. 14 minutes
• B. 5 minutes
• C. 6 minutes
• D. 17 minutes

Answer: D

 

NEW QUESTION 60
Determine the correct formula and date for the late start for the Activity 11001:

• A. LF.11001 - Dur.11001 -> 01-16-04.
• B. LF.11001 - 27 days + 1 day -> 01-14- 04.
• C. LF.1001 + DUR.10001 -> 01-14-04.
• D. LF.10001 + 1 day -> 01-16-04.

Answer: D

 

NEW QUESTION 61
Which of the following is NOT true?

• A. Multiple calendars can affect the total float calculation.
• B. Remaining durations can exceed original durations.
• C. A network must contain only one Critical Path.
• D. Constraints can interfere with the longest path calculation.

Answer: B

 

NEW QUESTION 62
If a detailed estimate is NOT available to assist in the formulation of activity durations but unit quantities have been identified, what information can be utilized to estimate work package/activity durations?

• A. The Eichleay formula
• B. Historical production rates
• C. Black-Scholes model
• D. Time impact analysis

Answer: B

 

NEW QUESTION 63
Which of the following phases does NOT describe the commonly accepted construction life cycle?

• A. Claims and disputes phase.
• B. Planning and design phase.
• C. Installation phase.
• D. Turnover and start-up phase.

Answer: B

 

NEW QUESTION 64
All the following describe the critical path of a schedule EXCEPT:

• A. Determined by network logic and is the chain of activities that controls the overall project completion time.
• B. The series of activities having the least amount of total float.
• C. Frequently defined as the shortest path through the schedule.
• D. Changed by redefining the network logic or changing activity durations or both.

Answer: C

 

NEW QUESTION 65
Determine the driving activity for Activity 10001.

• A. Activity 11001.
• B. Activity 10002.
• C. Activity 9005.
• D. There is no driving activity for Activity 10001 in the backward pass.

Answer: B

 

NEW QUESTION 66
What method offers the best chance of the schedule being used effectively to implement the project in the field?

• A. Obtain consent and agreement to the schedule from the key project personnel.
• B. Include detailed and stringent set of scheduling specifications in the contract.
• C. Issue detailed schedule updates as frequently as possible.
• D. Allow large time contingencies on milestones and completion deadlines.

Answer: A

 

NEW QUESTION 67
What owner action could have mitigated the late completion of the project?

• A. Hire a more senior project manager.
• B. Use a procurement agent to monitor and expedite equipment deliveries.
• C. Self-perform more of the work.
• D. Prepare better structural steel drawings.

Answer: B

 

NEW QUESTION 68
Constraints control events or activities that __________________.

• A. Are not based on project relationships.
• B. Affect only the forward pass.
• C. Affect only the backward pass.
• D. May be over-ridden by activity logic.

Answer: D

 

NEW QUESTION 69
Assuming that you had only one crane capable of 30 lifts per day, 3 column pours requiring 28 lifts each, plus associated assorted work requiring an additional 150 lifts, what is the minimum planned working duration for this work?

• A. 8 work days
• B. 7 work days
• C. 18 work days
• D. 15 workdays

Answer: A

 

NEW QUESTION 70
If drafting of the product manual overruns its planned duration by 5 days, how many days may the manufacturing be delayed without affecting release of the product?

• A. 10 days.
• B. 0 days.
• C. 5 days.
• D. 15 days.

Answer: B

 

NEW QUESTION 71
By subtracting a measured unit productivity rate during an impacted period from the unit productivity rate during an unimpacted period, the resulting value represents:

• A. Production output.
• B. Acceleration.
• C. Productivity loss.
• D. Productivity efficiency.

Answer: C

 

NEW QUESTION 72
What problems can a soils engineer deal with on a project?

• A. Toxic soils.
• B. Archeological findings.
• C. Hidden subsurface conditions.
• D. Survey error.

Answer: C

 

NEW QUESTION 73
What is the actual duration as of the status date or data date of Activity B?

• A. 4.
• B. 7.
• C. 0.
• D. 3.

Answer: D

 

NEW QUESTION 74
How could the structural steel drawing delay have been prevented?

• A. Release the structural steel for fabrication concurrent with review of structural steel shop drawings.
• B. Allow adequate time for review and resubmittal in the baseline schedule.
• C. Switch to post-tensioned concrete construction.
• D. Add a time buffer at the end of structural steel activities.

Answer: D

 

NEW QUESTION 75
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