Analogous estimating - Study guides, Class notes & Summaries

Work Package - The work defined at the lowest level of the work breakdown structure for which cost and duration can be estimated and managed. Acceptance Criteria - A set of conditions that is required to be met before deliverables are accepted. Accuracy - Within the quality management system, accuracy is an assessment of correctness. Activity List - A documented tabulation of schedule activities that shows the activity description, activity identifier, and a sufficiently detailed scope ...

Project Management (MAN4583) Final UCF Latest Update Graded A+ If you are experiencing costs based upon historical data from experience w/ a comparable project, you are using: (based off past projects (analogy)) Analogous Estimating To find the ___________ activities / zero slack, you have to calculate the forward and backward pass through your network. Critical Path In your network diagram, A is a predecessor for B, C, and D. Therefore, A is a ____________ activity. Burst To ...

Acceptance Criteria - A set of conditions that is required to be met before deliverable are accepted. Accepted Deliverables - Products, results, or capabilities produced by a project and validated by the project customer or sponsors as meeting their specified acceptance criteria. Accuracy - Within the quality management system, accuracy is a assessment of correctness Aquire Resources - The process of obtaining team members, facilities, equipment, materials, supplies, and other resources...

CAPM Exam Prep, PMI Questions, PMBOK 6th Edition - CAPM Prep, CAPM Exam Prep 2024 360-degree appraisal -Answer-A performance review completed by a person's peers, manager, and subordinates. It's called a 360-degree appraisal as it's a circle of reviews by people at different levels of an organization. Acceptance -Answer-This is a response to a risk event, generally made when the probability of the event and/or impact are small. It is used when mitigation, transference, or avoidance are...

APM Course Question and answers verified to pass 2024/2025 APM Course - Session 10 - Estimating Define the term 'estimate.' - correct answer The use of a range of tools and techniques to produce forecasts of the probable time or cost of completing work. Define the term 'estimating funnel.' - correct answer A representation of the increasing levels of estimating accuracy that can be achieved through the phases of the life cycle. Define the term 'estimating.' - corr...

C. This is an example of using the previous project as a template. Rolling wave planning is incorrect because rolling wave planning describes the detailed planning of the imminent project work, and the high-level planning of work is further away in the project schedule. Analogous estimating describes the method of using a similar project to create the current project's time and/or cost estimate. Expert judgement is using an expert to provide needed info for the current project. Chapter 6 1. You...

If you are experiencing costs based upon historical data from experience w/ a comparable project, you are using: (based off past projects (analogy)) : Analogous Estimating To find the ___________ activities / zero slack, you have to calculate the forward and backward pass through your network. : Critical Path In your network diagram, A is a predecessor for B, C, and D. Therefore, A is a ____________ activity. : Burst To find the free slack (float) for each activity in your network d...

estimates During project selection and chartering, very rough ___________ of cost were considered to determine if the project's benefits would be worth the investment. planning Now, in the detailed ______________, more comprehensive cost estimates are developed to once again determine if the project's benefits are wroth the investment. cash flow; resources The project budget will be used to manage ______________ ____________ and guide decisions about how to use __________________ on the proj...

APM PMQ - Project Delivery Exam with Correct Answers what is estimating - ️️ uses different methods to produce a prediction of the time and resources required to complete the scope of the work to the defined quality requirements. when do estimates become more accurate - ️️ Throughout the project, it is required for the PM to produce estimates. Estimates are often described as approximations as can never be 100% accurate. The accuracy of the estimate highly depends on the amount of...

OMIS 352 FINAL EXAM ACTUAL QUESTIONS AND ANSWERS SOLVED 100% _____ address where the project stands in terms of meeting scope, time, and cost goals a.Status reports b.Lessons-learned reports c.Technical reports d.Progress reports Ans- A. Status Reports Analogous estimates are also known as _____ estimates. a. parametric b. bottom-up c. top-down d. budgetary Ans- C. Top Down Which of the following is true about identifying stakeholder? a.It is not very difficult t...