General

Question 1

estimates are dynamic and are often re-calculated during the project) (eg ETC)

Answer 1

think EVA

Question 2

estimates can be decreased by reducing or eliminating risks

Answer 2

or they can be lengthened by a risk response

Question 3

What does it mean to “balance the constraints”?

Answer 3

reconcile direction and numbers given by sponsor with reality

Question 4

When can analogous estimating be done?

Answer 4

planning, or later as details become available

Question 5

What are two ways an estimator might create a parametric estimate?

Answer 5

• regression

* established learning curves (100th room painted faster than first)