Estimating

Question 1

WHAT IS INVOLVED IN SUCCESS OF A PROJECT?

Answer 1

Success involves controlling deployment and ensuring that there is good information about progress and performance.

Question 2

What is a team?

Answer 2

Groups of people with a common aim are called a ‘team’ on the assumption that the people will not only cooperate with each other but also collaborate to innovate and perform

Question 3

what is considered before an estimate is completed?

Answer 3

the point in the life cycle where the estimate is being carried out, the time available and the amount of detailed information that exists concerning scope and working approaches

Question 4

what is bottom up method?

Answer 4

detailed estimates that can be produced for labour and non-labour resources to complete the activities in scope

Question 5

what is an analytical estimate used for?

Answer 5

Analytical estimating can only be used to produce a cost estimate and not an estimate of duration

Question 6

what does parametric method use?

Answer 6

This estimating method uses a statistical relationship between historical data and other variables to calculate an estimate

Question 7

Parametric estimating can be one of the most accurate techniques for determining what?

Answer 7

a project’s duration and cost,

Question 8

What is an estimating funnel ?

Answer 8

This increase in accuracy from concept through to implementation