Forecasting in service sector present some unusual challenge

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Reference no: EM132252205

1. Managers will begin to Crash activities if a project looks like it will be completed by the desired date

True

False

2. CPM stands for Critical Path Method and PERT stands for Proper Evaluation and Review Technique

True

False

3. Forecasting in the service sector presents some unusual challenges. A major technique in the retail sector is tracking demand by maintaining good long-term records.

True

False

4. Mean absolute deviation (MAD) is average of the absolute differences between the forecast and actual values, expressed as a percent of actual values.

True

False

5. The Task Breakdown Structure (TBS) defines the project by dividing it into its major subcomponents (or tasks), which are then subdivided into more detailed components, and finally into a set of activities and their related cost

True

False

6. Arnold Palmer had completed a 4-year project to construct a new 12-story building

True

False

7. PERT and CPM follow six basic steps

True

False

8. A dummy activity exists

True

False

Reference no: EM132252205

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