Ch5 - Planning / Estimate Activity Durations (5.9)

Question 1

What is the key benefit of the Estimate Activity Durations Process?

Answer 1

It provides the amount of time each activity will take to complete.

Question 2

What is the process of estimating the number of work periods needed to complete individual activities with estimated resources?

Answer 2

Estimate Activity Durations Process

Question 3

When is the Estimate Activity Durations Process performed?

Answer 3

Throughout the project

Question 4

What are the 4 general inputs to the Estimate Activity Durations Process?

Answer 4

1. Project Management Plan
2. Project Documents
3. Enterprise Environmental Factors
4. Organizational Process Assets

Question 5

The Schedule Management Plan and the Scope Baseline are included in what general input to the Estimate Activity Durations Process?

Answer 5

Project Management Plan

Question 6

Activity attributes, activity list, assumption log, lessons learned register, milestone list team assignments, resource breakdown structure, resource calendars, resource requirements and risk register are all part of what general input to the Estimate Activity Durations Process?

Answer 6

Project Documents

Question 7

Name 4 estimating techniques are used in the Estimate Activity Durations Process?
(APTB)

Answer 7

1. Analogous estimating
2. Parametric estimating
3. Three-point estimating
4. Bottom-up estimating

Question 8

Alternative Analysis and Reserve Analysis are part of what general technique used in the Estimate Activity Durations Process?

Answer 8

Data Analysis

Question 9

What is the difference between Alternative Analysis and Reserve Analysis?

Answer 9

Alternative analysis is used to evaluate different options to meet an objective, while reserve analysis is used to establish a reserve for the schedule duration, budget, estimated cost, or funds for a project to mitigate cost and/or schedule risk.

Question 10

Duration Estimates, Basis of Estimates, and Project Document Updates are all — of Estimate Activity Durations Process?

Answer 10

Outputs

Question 11

What project documents are updated as an output of the Estimate Activity Process?

Answer 11

1. Activity attributes
2. Assumptions log
3. Lessons Learned register

Question 12

What provides a clear and complete understanding of how an estimate was derived?

Answer 12

Basis of Estimates

Question 13

What is a technique used in project management to estimate the duration or cost of an activity or a project using historical data from a similar activity or project?

Answer 13

Analogous Estimating
* also known as top-down or macro estimating
* often used when a rough estimate is needed early on
* used for duration and cost estimates

Question 14

What is an estimating technique that uses statistical relationships between historical data and project parameters to calculate estimates for a project?

Answer 14

Parametric Estmating
* also known as bottom-up or detailed estimating
* often used when there is a large amount of data available and project parameters are well known
* can be used for duration and cost estimates

Question 15

What is the difference between Parametric Estimating and Bottom-Up Estimating?

Answer 15

parametric estimating uses statistical relationships between historical data and project parameters to calculate estimates, while bottom-up estimating estimates the cost of individual activities and summarizes them up to obtain a project total.

Question 16

What is an estimating technique used to estimate cost or duration by applying an average or weighted average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates?

Answer 16

Three Point Estimating

Question 17

What estimating technique is used to better understand the range of possible outcomes for a project and to identify areas of uncertainty or risk?

Answer 17

Three Point Estimating

Question 18

Name 4 factors that can effect estimating durations of work?

Answer 18

1. Law of diminishing returns
2. Number of resources
3. Advances in technology
4. Motivation of staff

Question 19

A concept in economics that states that as more and more resources are added to a production process, the marginal increase in output will eventually decrease is called…

Answer 19

The law of diminishing returns
Example: farmer and field of crops

Question 20

How can the number of resources effect durations?

Answer 20

Increasing the number of resources to twice the original number of the resources does not always reduce the time by half, as it may increase extra duration due to risk, and at some point adding too many resources to the activity may increase duration due to knowledge transfer, learning curve, additional coordination, and other factors involved.

Question 21

What is the student syndrome?

Answer 21

When people start to apply themselves only at the last possible moment before the deadline.

Question 22

What is Parkinson’s Law?

Answer 22

When work expands to fill the time available for its completion.