Final answer:
In a time-constrained project, resources are smoothed or leveled by allocating them based on their availability (option c). It involves managing resource scarcity and economic constraints to distribute resources in a way that avoids peaks and valleys, aligning with project deadlines.
Step-by-step explanation:
When dealing with a time-constrained project, smoothing/leveling resources refers to attempting to minimize the peaks and valleys in resource allocation to ensure a more even distribution of resources throughout the life of the project. The correct answer to the question is c) Resources are allocated based on their availability. This method does not necessarily mean that resources are allocated evenly throughout the project, as option a) suggests, nor does it concentrate resources in the early stages, as option b) assumes.
Resource allocation must consider the availability of resources, which can be predicted using tools such as the R/P ratio, a simple division of remaining resources by the current rate of use. It heavily relies on understanding the dynamics of resource utilization and the challenges presented by resource scarcity and economic principles. This consideration is done within the constraints of the project's deadlines and objectives while aiming to minimize idle times for resources and avoid bottlenecks.