AACE-INTERNATIONAL-PSP practice question 25 of 30

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

Full set: 211 questions
Answer options
A: Types of materials, equipment and labor skills required to complete the project.
B: Earned value techniques established for the project. Correct answer
C: Time available to complete the project.
D: Cash flow (expenditure) limitations for completing work on the project.
Correct Answer:
B. Earned value techniques established for the project.
Explanation

Resource planning is a fundamental process in project management focused on identifying the types and quantities of resources required and determining when they are needed to execute the project. This includes tangible resources like materials and equipment, human resources with specific skills, and financial resources (cash flow). The time available (schedule) is a primary constraint that dictates the timing of resource needs. Earned value techniques, however, are part of the project performance measurement and control process. They are used to monitor progress against the plan, not to create the initial resource plan itself.

Why Incorrect

A. Identifying the types of materials, equipment, and labor is the core activity of resource planning.
C. The time available is a critical constraint that dictates the timeline for resource allocation and is a key input to resource planning.
D. Cash flow limitations are a financial resource constraint that directly impacts the ability to procure other resources and must be considered during planning.

References

1. Hollmann, J. K. (Ed.). (2015). AACE International's Total Cost Management Framework (2nd ed.). Section 7.2, Project Planning, details the inputs to the planning process, which include scope, schedule, and cost/funding constraints. Section 7.6, Project Performance Assessment, describes EVM as a control function, separate from initial planning.

2. AACE International. (2019). Skills & Knowledge of Cost Engineering (6th ed.). Chapter 6, Project Planning and Scheduling, outlines resource planning as determining "what resources (e.g., people, equipment, materials) and what quantities of each should be used." (p. 6.4-1). EVM is covered separately in Chapter 7 on Project Control.

3. AACE International, Recommended Practice No. 37R-06, "Schedule Levels of Detail-As Applied in Engineering, Procurement, and Construction," (Rev. April 21, 2010). This RP discusses how resource requirements are incorporated into the schedule during the planning phase.

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