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AACE International Planning & Scheduling Professional (PSP) Exam Sample Questions (Q46-Q51):

NEW QUESTION # 46
Theoretically construct a summary activity for activities 2001 through 2004. Using the "normal" schedule, what is the cost of the hammock?

A. $139,000
B. $289,000
C. $299,000
D. $271,000

Answer: D

Explanation:
Hammock Cost for Activities 2001-2004:
Activity 2001: Cost = $150,000.
Activity 2002: Cost = $25,000.
Activity 2003: Cost = $20,000.
Activity 2004: Cost = $96,000.
Calculate Total Cost:
Total cost = $150,000 + $25,000 + $20,000 + $96,000 = $271,000.
Cross-Verification with Answer Options:
Option B: Incorrect. Overstates cost.
Option C: Incorrect. Understates cost.
Option D: Incorrect. Overstates cost.
Option A: Correct. Matches the calculated cost.
Reference:
PSP Study Guide (2019), Section on Summary and Hammock Activities.
AACE Recommended Practices, RP 10S-90.

NEW QUESTION # 47
An earned value-based project control system can use either of which two budgets as the basis of its calculations?

A. Earned or budgeted cost yearly.
B. Labor hours or dollars.
C. Linear feet or dollars.
D. Direct or indirect cost.

Answer: B

Explanation:
An earned value management (EVM) system can base its calculations on labor hours or monetary values, depending on the nature of the project. Both methods are valid for tracking performance and forecasting outcomes.
Option B (direct or indirect cost) does not align with EVM's focus on performance metrics.
Option C confuses timeframes with budgeting principles.
Option D (linear feet or dollars) applies to physical progress tracking but not directly to EVM systems.
This is consistent with EVM principles as outlined in project control methodologies within the PSP materials.

NEW QUESTION # 48
Which of the following risks CANNOT be estimated by BILCO with only a resource-loaded schedule?

A. Cost overruns due to cement shortage
B. Delay due to SDOT's other projects
C. Delay due to labor shortage
D. Liquidated damages on the SDOT contract

Answer: B

NEW QUESTION # 49
For which of these delays should an owner grant a time extension?

A. Differing site conditions and centrifuge delay.
B. Structural steel shop drawings.
C. Differing site conditions at parking structure.
D. Shop drawings and centrifuge delay.

Answer: A

Explanation:
* 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).

NEW QUESTION # 50
What activities are concurrent to Activity 2001 in the "normal" schedule?

A. 2003.
B. 1001.
C. 7001.
D. 1000.

Answer: B

Explanation:
Analyze Activity 2001 in the "Normal" Schedule:
Activity 2001 ("River Diversion Stage 1") has a duration of 92 days under the "Normal" schedule.
The logic column shows it has a Successor ID of 2002, and a Finish-to-Start (FS) relationship with no lag. This indicates that Activity 2002 will begin immediately after Activity 2001 finishes.
Identify Concurrent Activities Using the Schedule Logic:
To determine concurrency, we need to look for activities that overlap in time with Activity 2001 during its duration. Concurrent activities must either:
Start before Activity 2001 finishes, or
Finish after Activity 2001 starts.
Review Activities in the Normal Schedule:
Activity 1001 ("Preliminary Civil Work"):
Has a duration of 85 days, starts before Activity 2001, and overlaps with it.
Logic: Its successor is Activity 2001 (Start-to-Start [SS] relationship), confirming the overlap.
Activity 1000 ("General Conditions"):
Duration is 1072 days. However, this is an overarching activity, and its inclusion is not specific to being concurrent with Activity 2001.
Activity 7001 ("Permanent Roads"):
Starts much later, after Activity 2001 ends, and thus is not concurrent.
Activity 2003 ("River Diversion Dam"):
Starts after Activity 2001 completes (FS relationship), so it is not concurrent.
Conclusion:
The only activity that overlaps and runs concurrently with Activity 2001 in the "Normal" schedule is Activity 1001.
Reference:
PSP Study Guide (2019), Chapter on Schedule Development, Section 2.2.4 - Relationships: Discusses how Start-to-Start (SS) and other dependencies impact concurrency.
AACE Recommended Practice 10S-90: "Cost Engineering Terminology" for definitions of concurrent activities.

NEW QUESTION # 51
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