1- Explain the difference between a Cost Plus Incentive Fee (CPIF) contract and a Cost Plus Award Fee (CPAF) contract.

2- As project manager, you have received a cost estimate from a functional manager to integrate and build 1,000 widgets. List three estimating methods that could be used to assess this estimate. Explain under what conditions you would choose each of these methods.

3- You are the project manager for a newly-awarded $35M Cost-Plus-Fixed-Fee (CPFF) contract to design a new generation of aircraft carriers. Your company does not know much about designing propulsion systems, so you have decided to subcontract this part of the work. What kind of subcontract would you award and why? Please document any assumptions.

4- With respect to Critical Path Networks, can there be more than one critical path in the network? Why or why not?

5-Which of the following items can be directly picked off a Critical Path Method Network?

a) earliest start

b) critical path

c) workforce loading

d) project finish date

6- With respect to Critical Path Networks, what are the activities in the network for which Earliest Start Time equals Latest Start Time?