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How to Prepare For Planning & Scheduling Professional (PSP) Exam

Preparation Guide for Planning & Scheduling Professional (PSP) Exam

Introduction

The Planning & Scheduling Professional PSP exam test is administered by AACE International, the Association for the Advancement of Cost Engineering. In 1956, during the organizational meeting of the American Association of Cost Engineering at the University of New Hampshire in Durham, New Hampshire, 59 cost estimators, and cost engineers founded AACE International (Association for the Advancement of Cost Engineering). The International Headquarters of AACE is based in Morgantown, West Virginia, USA. AACE is a specialized non-profit organization. The Board of the Council of Engineering and Technical Specialty Boards (CESB) is a member of AACE International.

AACE operates eight qualification programs at present. Both include the agreement and passing of an evaluation to adhere to a canon of ethics. Most require previous experience in the industry and may provide recertification through continuing education or reexamination. Six of these certifications are accredited by the Council of Engineering and Scientific Specialty Boards (CESB).

This exam guide is intended to aid in achieving AACE’s specialty certification with the best possible grades. It will enable you to understand the scope of the Planning & Scheduling Professional (PSP) Exam and help you to prepare for it successfully by making use of the provided PSP exam dumps. This guide includes information on the certification test target audience, recommended preparation and documentation, and a full list of exam targets, all to help you obtain a passing grade. To increase your chances of passing the test, AACE strongly recommends a mix of on-the-job experience, course attendance, and self-study, and taking the PSP practice exams. This guide contains useful references for detailed knowledge.

AACE International AACE-PSP (Planning & Scheduling Professional) certification is a leading standard in the field of project planning and scheduling. Planning & Scheduling Professional (PSP) Exam certification is recognized globally as the mark of excellence, expertise, and commitment to the profession by professional planners and schedulers. Planning & Scheduling Professional (PSP) Exam certification, which is awarded by AACE International, is designed to test and demonstrate the knowledge, skills, and abilities of candidates in the field of project planning and scheduling.

NEW QUESTION 110
The characteristic of the precedence diagramming method that models construction projects differently than the arrow diagramming method is that it____________.

 uses arrows to signify logic in a network

 allows more than one critical path to be represented

 can be used to calculate the late start and late finish of all activities

 allows multiple relationship types to be associated with activities

* Precedence Diagramming Method (PDM):
PDM allows for Start-to-Start (SS), Finish-to-Start (FS), Start-to-Finish (SF), and Finish-to-Finish (FF) relationships between activities.
This flexibility makes PDM distinct from Arrow Diagramming Method (ADM), which uses arrows to depict dependencies.
* Evaluation of Options:
Option A: Incorrect. This describes ADM, not PDM.
Option B: Incorrect. Both PDM and ADM can represent multiple critical paths.
Option C: Incorrect. Late start and finish calculations apply to both methods.
Option D: Correct. PDM uniquely allows multiple relationship types.

NEW QUESTION 111
How could the structural steel drawing delay have been prevented?

 Add a time buffer at the end of structural steel activities.

 Allow adequate time for review and resubmittal in the baseline schedule.

 Release the structural steel for fabrication concurrent with review of structural steel shop drawings.

 Switch to post-tensioned concrete construction.

* Preventing Structural Steel Delays:
Incorporating realistic timeframes for shop drawing review and resubmittals in the baseline schedule prevents design-related delays.
* Evaluation of Other Options:
A: Adding time buffers does not address the root cause.
C: Concurrent review may create confusion and errors.
D: Switching to post-tensioned concrete is a significant design change, not a practical solution for a scheduling issue.
* Verification with PSP Guidelines:
Adequate review time aligns with PSP scheduling best practices (Ref: PSP Study Guide, Chapter 2B: Schedule Development and Baseline Creation).

NEW QUESTION 112
Why does activity 1001 have two successor activities?

 Because the late finish of 1001 and the late start of 7001 require two successors

 Because the problem could not effectively work with only one successor

 Because there are two defined logic paths for the work

 Because the duration of activities 2001, 2002 and 200.f require two successors

NEW QUESTION 113
Resource planning must take all of the following into account except for:

 Types of materials, equipment and labor skills required to complete the project.

 Earned value techniques established for the project.

 Time available to complete the project.

 Cash flow (expenditure) limitations for completing work on the project.

Resource planning focuses on identifying and allocating the required materials, equipment, labor, and financial resources.
Option A, C, and D are integral to resource planning.
Option B (earned value techniques) is a project control mechanism, not a resource planning factor.
This is consistent with the scope of resource planning as described in the PSP Study Gu

NEW QUESTION 114
Value engineering is:

 targeted at the design itself

 intended to provide the least life-cycle cost

 established to provide the greatest value

 intended to determine if the project will be completed economically

NEW QUESTION 115
Theoretically construct a summary activity for activities 6001 through 6003. Identify the governing predecessor and successor activities for the hammock:

 Predecessor is activity 5001, successor is activity 8001

 Predecessor is activity 4001, successor is activity 8001

 Predecessor is activity 9001, successor is activity 9002

 Predecessor is activity 5001, successor is activity 8002

NEW QUESTION 116
Using the “crashed” schedule, if you start Activity 2002 on August 12, 2001, what is the finish date for Activity 2002?

 09-28-01.

 09-08-01.

 09-15-01.

 09-18-01.

NEW QUESTION 117
Using the normal schedule, what is the early finish date and total float of Activity 10002?

 24 Nov 2023. and 24 days of tree float

 24 Dec 2023. and 24 days of tree float

 17 Dec 2023. and 4 days of total float

 21 Dec 2023. and 4 days of total float

The early finish date and total float are determined using CPM calculations. The PSP Study Guide outlines that early finish is calculated as the early start date plus activity duration, adjusted for calendar constraints (PSP Study Guide, Subchapter 2.2.5, “Constraints and Calendars”).
Steps:
Determine early start using forward pass calculations.
Add the activity duration.
Consider non-working days or holidays as per the project calendar.
Calculate float as the difference between late start and early start or late finish and early finish.

NEW QUESTION 118
Scenario:
The entire network consists of the following activities and relationships. Activity A is twenty days long and is tied to Activity B, a ten-day activity, with a finish-to-finish tie with a lag value of five Activity B is tied to Activity C, a twenty-day activity, with a start-to-start relationship with a lag value of five.

PSP Activities Table
Scope Known about Rock-Filled Dam Project:
The dam requires river diversion and work over two or more rainy seasons. The contract is lump sum, competitively bid, and will be self-performed. The owner has attempted to shift all risk to the contractor by employing “no differing sit conditions” and “no damage for delay” clauses. There is a bonus/penalty provision of $2,500 per calendar day for early or late delivery. The early completion bonus is capped at $500,000, with no cap for late delivery penalty.
Liquidated damages end at the finish of demobilization. Indirect costs per calendar day are $2,800 for the
“normal” schedule and $3,200 for the “crashed” schedule. The winter/wet weather season is 151 days between October 15 and March 25 of each year, reduces the efficiency of the contractor’s operations by 20% and costs the contractor $10,000 per day. Assume a start date of March 5, 2001 and use a 7-day work week.
The following table lists work activities as planned by the contractor.

Theoretically construct a summary activity for only those activities with a finish-to-start relationship for Activities 8001 through 10001. Using the “normal” schedule, what is the cost of this hammock?

 $420,000.

 $307,000.

 $524,000.

 $552,000.

NEW QUESTION 119
What owner action could have mitigated the late completion of the project?

 Hire a more senior project manager.

 Self-perform more of the work.

 Use a procurement agent to monitor and expedite equipment deliveries.

 Prepare better structural steel drawings.

* Mitigating Late Completion:
A procurement agent could monitor and expedite long-lead equipment, reducing delivery delays that often affect project timelines.
* Evaluation of Other Options:
A: Hiring a senior project manager may not address the specific issue.
B: Self-performing may not resolve procurement delays.
D: Better structural steel drawings relate to design, not equipment delays.
* Verification with PSP Guidelines:
PSP emphasizes early identification and mitigation of procurement risks (Ref: PSP Study Guide, Chapter 2B: Procurement and Supply Chain Management).

NEW QUESTION 120
What method offers the best chance of the schedule being used effectively to implement the project in the field?

 Issue detailed schedule updates as frequently as possible.

 Obtain consent and agreement to the schedule from the key project personnel.

 Include detailed and stringent set of scheduling specifications in the contract.

 Allow large time contingencies on milestones and completion deadlines.

An effective schedule is one that is realistic, collaborative, and accepted by key stakeholders involved in project execution.
Gaining consent and agreement ensures buy-in, facilitates implementation, and minimizes disputes (Option B)​.
Frequent updates (Option A) are essential for tracking but are insufficient without team agreement.
Contract specifications (Option C) govern compliance but do not guarantee effective field use.
Large contingencies (Option D) may reduce accountability and create inefficiencies in project management.
Collaboration and stakeholder involvement, as emphasized in the PSP Study Guide, are essential for schedule usability​.

NEW QUESTION 121
The characteristic of the precedence diagramming method that models construction projects differently than the arrow diagramming method is that it____________.

 uses arrows to signify logic in a network

 allows more than one critical path to be represented

 can be used to calculate the late start and late finish of all activities

 allows multiple relationship types to be associated with activities

NEW QUESTION 122
What does the narrow band at “Y” represent?

 Resource limitation period

 A delaying event

 You cannot tell with the information supplied

 A rework period

NEW QUESTION 123
Why does activity 1001 have two successor activities?

 Because the late finish of 1001 and the late start of 7001 require two successors

 Because the problem could not effectively work with only one successor

 Because there are two defined logic paths for the work

 Because the duration of activities 2001, 2002 and 200.f require two successors

NEW QUESTION 124
Which of the following risks CANNOT be estimated by BILCO with only a resource-loaded schedule?

 Delay due to SDOT’s other projects

 Delay due to labor shortage

 Liquidated damages on the SDOT contract

 Cost overruns due to cement shortage

* 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.

NEW QUESTION 125
During proofing of the product manual, a problem was discovered requiring 15 days additional time to affect a correction. How can the date of availability be maintained?

 Expedite Draft Product Manual by 5 days

 Delay Release for Manufacture by 5 days

 Delay Manufacture Product by 5 days

 Expedite Package Product by 5 days

NEW QUESTION 126
If the administrative constraints for developing the precedence diagram, as provided in the contract documents, indicate that no individual construction activities shall have a longer duration of two months, how many activities in the “normal” schedule would be affected?

 12.

 14.

 13.

 Cannot be determined.

NEW QUESTION 127
If a new hammock activity covering activities 6001 through 6003 is developed, what are governing predecessor and successor activities?

 Predecessor is Activity 4001. successor is Activity 9004

 Predecessor is Activity 8001, successor is Activity 5001

 Predecessor is Activity 5001, successor is Activity 8001

 Predecessor is Activity 4001, successor is Activity 9003

NEW QUESTION 128
Using the normal schedule, theoretically construct a hammock for activities 6001-6003. What is the duration of the hammock?

 407 days

 255 days

 267 days

 477 days

NEW QUESTION 129
What portion of Activity B is on the critical path?

 Last half of the activity

 None of it

 First half of the activity

 The whole activity

 Loading …

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Topics of AACE-International CCP: Certified Cost Professional (CCP) Exam

It is suggested that candidates utilize this and/or additional resources, including CCP exam dumps, to obtain background knowledge on the examination topics. Whenever feasible. The AACE-International CCP: Certified Professional Cost Examination curriculum is provided below with details of each part and subjects.

The Certified Cost Professional exam is a much wanted and difficult test. The examination may be intimidating if you are not properly prepared. The CCP examination comprises a closed-book examination, examines 4 modules and takes up to 120 questions. The CCP exam has two parts: the multiple-choice test and the 2,000 word research report. You must achieve the minimum total score of 70 percent to pass the test. The four modules examined for your CCP exam are:

1. Basic abilities and expertise in cost engineering
2. Analysis economics
3. Management of the project
4. Estimation and management of costs

Regarding your technical document, which is mandatory for registering for the Certified Cost Professional Examination (CCP), your trainers will advise you on suitable subjects and help you develop a solid foundation. They will also assess your work and offer comments when ready. The teachers will also verify that your paper is prepared in accordance with AACE criteria so that the examining body of AACE approves it.

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What is the duration, language, and format of the Planning & Scheduling Professional (PSP) Exam

• Total questions: 119
• Passing score: 70%
• Duration of Exam: 5 hours
• Format: Multiple choice, compound, scenario questions + 1 memo writing assignment
• Language of Exam: English

How to Prepare For Planning & Scheduling Professional (PSP) Exam

Preparation Guide for Planning & Scheduling Professional (PSP) Exam

Introduction

The Planning & Scheduling Professional PSP exam test is administered by AACE International, the Association for the Advancement of Cost Engineering. In 1956, during the organizational meeting of the American Association of Cost Engineering at the University of New Hampshire in Durham, New Hampshire, 59 cost estimators, and cost engineers founded AACE International (Association for the Advancement of Cost Engineering). The International Headquarters of AACE is based in Morgantown, West Virginia, USA. AACE is a specialized non-profit organization. The Board of the Council of Engineering and Technical Specialty Boards (CESB) is a member of AACE International.

AACE operates eight qualification programs at present. Both include the agreement and passing of an evaluation to adhere to a canon of ethics. Most require previous experience in the industry and may provide recertification through continuing education or reexamination. Six of these certifications are accredited by the Council of Engineering and Scientific Specialty Boards (CESB).

This exam guide is intended to aid in achieving AACE’s specialty certification with the best possible grades. It will enable you to understand the scope of the Planning & Scheduling Professional (PSP) Exam and help you to prepare for it successfully by making use of the provided PSP exam dumps. This guide includes information on the certification test target audience, recommended preparation and documentation, and a full list of exam targets, all to help you obtain a passing grade. To increase your chances of passing the test, AACE strongly recommends a mix of on-the-job experience, course attendance, and self-study, and taking the PSP practice exams. This guide contains useful references for detailed knowledge.

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Official Website

How much AACE-International CCP: Certified Cost Professional (CCP) Exam Cost

The costs of this examination vary and according to area in which you are requesting and when you apply on the website of the AACE and go to the payments section, the precise number of the examination is accessible. In general, it costs about USD 200. Click the Apply now button on the official AACE website and select a region for additional price information. There may also be other expenses such as the purchase of CCP exam dumps and subsequently the examination by means of CCP practice exams. If you have or apply for an AACE membership, certificates are given to you at reduced rates.

AACE-International CCP: Certified Cost Professional (CCP) Exam Certification Path

Certified Cost Professional (CCP) Examination comprises solely of the AACE-International CCP: Certified Cost Professional Examination (CCP). Certified Cost Professional Examination (CCP). The candidates must meet the qualifying requirements for a minimum of eight years of industry experience or four years of industry experience and four years of associated academic degree. Those who have certification as a Certified Cost Professional (CCP) must recertification each Three years after the date on which they were first certified. Certification holders must have at least 15 recertification units during a 3-year period to be eligible for recertification. The studying guide, AACE’s Suggested Approaches, AACE’s Fundamentals & Understanding of Cost Engineering and AACE’s Total Cost Managing Framework will be given in CCP exam dumps. You will also be provided with unique documents from our certified professionals.

The emphasis is on fundamental statistical, economic and financial understanding. In order to assess the differences between two or more alternative actions, you will be given with the necessary components to comprehend economic cost, such as inflation, depreciation, escalation, governmental cost effects, etc. You will also concentrate on systems engineering and get acquainted with methods that help solve major engineering issues. You will also learn how statistical data and probability may help you to examine data to make conclusions. The material of the course will be shown through practical examples. Several activities and tests are provided in order to put your newly learned information into practice straightaway. CCP exam dumps include all this preparation material.

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