Estimating

Question 1

Affinity grouping

Answer 1

Affinity grouping involves classifying items into similar categories or collections on the basis of their likeness. Common affinity groupings include T-shirt sizing and Fibonacci numbers.

Question 2

Analogous estimating

Answer 2

Analogous estimating assesses the duration or cost of an activity or a project using historical data from a similar activity or project. Possibly least accurate.

Question 3

Function point

Answer 3

A function point is an estimate of the amount of business functionality in an information system. Function points are used to calculate a functional size measurement (FSM) of a software system. It is based on the number of user inputs, outputs, and data interactions in the system.

Question 4

Bottom-Up Estimating

Answer 4

A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the WBS.
Possibly most accurate.

Question 5

Multipoint estimating

Answer 5

Multipoint estimating assesses 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.

Question 6

Parametric estimating

Answer 6

Parametric estimating uses an algorithm to calculate cost or duration based on historical data and project parameters.

Question 7

Relative estimating

Answer 7

Relative estimating is used to create estimates that are derived from performing a comparison against a similar body of work, taking effort, complexity, and uncertainty into consideration. Relative estimating is not necessarily based on absolute units of cost or time. Story points are a common unitless measure used in relative estimating.

Question 8

Single-point estimating

Answer 8

Single-point estimating involves using data to calculate a single value that reflects a best-guess estimate. A single-point estimate is opposed to a range estimate, which includes the best- and worst-case scenario.

Question 9

Story point estimating

Answer 9

Story point estimating involves project team members assigning abstract, but relative, points of effort required to implement a user story. It tells the project team about the difficulty of the story considering the complexity, risks, and effort involved.

Question 10

Wideband Delphi

Answer 10

Wideband Delphi is a variation of the Delphi estimating method where subject matter experts complete multiple rounds of producing estimates individually, with a project team discussion after each round, until a consensus is achieved. For Wideband Delphi, those who created the highest and lowest estimates explain their rationale, following which everyone reestimates. The process repeats until convergence is achieved.
Planning poker is a variation of Wideband Delphi.