Collecting data and estimates

Question 1

What are context specific questions used for?

Answer 1

Gathering data and estimates for each variable in the FAIR model.

Question 2

What do context specific questions help with?

Answer 2

Being able to identify data you need and who are the SME’s needed to gather estimates.

Question 3

Make sure to document…

Answer 3

all the rationale the SME provides

Question 4

What is a critical skill?

Answer 4

Writing context specific questions.

Question 5

What is the job of the analyst in collecting data and estimates?

Answer 5

Ensuring the SME has perfect clarity of the scope being analyzed.

Question 6

Elements of rationale (4)

Answer 6

Who did the estimate come from? (Name and role)
Data considered
Areas of uncertainty
Controls considered

Question 7

Clear rationale produces…

Answer 7

Defensible analysis

Question 8

What to do when experts (SME’s) disagree?

Answer 8

Have them have a conversation one level deeper in the model.

Could also run the model twice and then combine ranges with note of uncertainty

Question 9

Additional research yields

Answer 9

Diminishing marginal returns

(Analysis paralysis)

Looking for accurate range.