Sensitivity Analysis in Project Schedules

Correct Answer: Critical path simulation with multiple duration scenarios

Critical path simulation with multiple duration scenarios is the most effective method for sensitivity analysis of project completion dates. Here's why: 1. It allows testing various duration possibilities on the critical path activities 2. It provides insights into how changes in activity durations impact the overall project schedule 3. It helps identify which activities have the greatest effect on the project end date 4. It enables project managers to develop contingency plans based on different scenarios Why other options are less effective: - Resource leveling analysis primarily focuses on resource distribution rather than duration sensitivity - Monte Carlo simulation with resource availability patterns emphasizes resource uncertainty rather than duration impacts - Sequential path analysis with only earliest start dates is too limited and doesn't account for various duration scenarios that might affect the project completion The correct answer provides the most comprehensive approach for understanding how duration changes affect the project timeline.

Correct Answer: To identify potential schedule risks that could impact the project timeline

In schedule sensitivity analysis, examining near-critical paths is primarily done to identify potential schedule risks that could impact the project timeline. This is crucial because: 1. Near-critical paths have minimal float and can easily become critical paths if any delays occur 2. They represent potential risk areas that require proactive monitoring 3. Understanding these paths helps in risk management and contingency planning The other options are incorrect because: - Determining resource allocation based on float calculations is a resource optimization technique, not the main purpose of examining near-critical paths - Calculating exact probabilities of schedule delays on secondary paths is not realistic or practical, as multiple variables influence delays - Establishing baseline durations for minimal impact activities is not related to near-critical path analysis, as the focus should be on activities that could significantly affect the schedule

Correct Answer: Total float of the activities on the path

Total float is the key indicator of schedule flexibility on a network path because it represents the amount of time an activity can be delayed before impacting the project completion date. When performing schedule sensitivity analysis, total float shows how much slack time is available on different paths, making it the most reliable measure of flexibility. The other options are incorrect because: - Duration compression ratio between paths is not a standard metric for measuring schedule flexibility - Resource allocation variance does not specifically indicate schedule flexibility - Correlation coefficient of activity durations measures relationships between activities but does not indicate available flexibility in the schedule Total float remains the industry-standard metric for analyzing schedule flexibility and is essential for identifying potential schedule risks and opportunities.