Project Management basics - 6.4 Estimate Activity Durations Flashcards
Three-point estimating uses:
a. The weighted median of optimistic, pessimistic, and most likely estimates to calculate the expected duration of the activity.
b. An optimistic, pessimistic, and most likely estimate to calculate the estimate
c. Dummy activities to represent logic links among three or more activities.
d. Free float instead of total float in the schedule calculations.
b. An optimistic, pessimistic, and most likely estimate to calculate the estimate
The accuracy of single-point durations estimates may be improved by considering estimation uncertainty and risk. Using three-point estimates helps define an approximate range for an activity’s duration using:
(1) Most likely (tM) duration estimate;
(2) Optimistic (tO) duration estimate based on analysis of the best-case scenario for the activity;
and (3) Pessimistic (pM) duration estimate based on analysis of the worst-case scenario for the activity.
See Section 6.4.2.4 Three-point Estimating
What is calculated using a percentage of the estimated activity duration, or a fixed number of work periods?
a. Beta distribution
b. Contingency reserve
c. Management reserve
d. Triangular distribution
b. Contingency reserve
The contingency reserve may be a percentage of the estimated activity duration or a fixed number of work periods.
See Section 6.4.2.6 Data Analysis
An activity’s expected duration (tE) is 30, days, its most likely duration (tM) is 30 days, and its pessimistic duration (tP) is 45 days. Using three-point estimating, how many days is the optimistic duration (tO).
a. 10
b. 15
c. 12
d. 30
b. 15
Depending on the assumed distribution of values within the range of the three estimates, the expected duration, tE, can be calculated. tE=(tO+tM+tP)/3.
See Section 6.4.2.4 Three-point Estimating
For projects, what is the supporting documentation that can be used to support the details used in establishing project estimates and may include assumptions, constraints, level of detail, ranges, and confidence levels?
a. Resource estimates
b. Cost estimates
c. Duration estimates
d. Basis of estimates
d. Basis of estimates
Supporting detail for duration estimates may include:
- documentation of the basis if the estimate (i.e, how it was developed),
- documentation of all assumptions made,
- documentation of any known constraints,
- Indication of the range of possible estimates,
- Indication of the confidence level of the final estimate,
- and documentation of individual project risks influencing this estimate.
See Section 6.4.3.2 Basis of Estimates
Which of the following is affected by resource availability, resource requirements, and types of resources?
a. Rolling wave planning
b. The duration of the activity
c. The work package
d. The amount of activities forecasted
b. The duration of the activity
Estimating activity durations uses information from the scope of work, required resource types or skill levels, estimated resource quantities, and resource calendars, Other factors that may influence the duration estimates include constraints imposed on the duration, effort involved, or type of resources (e.g., fixed duration, fixed effort or work, fixed number of resources), as well as the schedule network analysis technique used.
See Section 6..4 Estimating Activity Durations
Which of the following best describes analogous duration estimating?
a. Used to estimate uncertainty and risk of stakeholders
b. Used to estimate project duration when there is a limited amount of detailed information about the project
c. Used as part of three-point estimating
d. Used to estimate project cost to the greatest level of specified detail
b. Used to estimate project duration when there is a limited amount of detailed information about the project
Analogous estimating is a technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project. This technique is frequently used to estimate project duration when there is a limited amount of detailed information about the project.
See Section 6.4.2.2 Analogous Estimating
The duration of an activity is affected by all the following EXCEPT:
a. The types of resources assigned to the activity.
b. The method of scheduling activities and resources.
c. The availability of the resources assigned to the activity.
d. The estimated activity resource requirements.
b. The method of scheduling activities and resources.
The estimated activity resource requirements will have an effect on the duration of the activity, since the level to which the resources assigned to the activity meet eh requirements will significantly influence the duration of most activities.
See Section 6.4.1.2. Project Documents
Which type of float is described as the amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint?
a. Total float
b. Positive float
c. Free Float
d. Negative float
a. Total float?
On any network path, the total float or schedule flexibility is measured by the amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.
See Section 6.5.2.2 Critical Path Method
Which of the following describes a schedule compression technique used to shorten the schedule duration for the least incremental cost by adding resources?
a. Mandatory overtime
b. Crashing
c. Fast Tracking
d. Quickening
b. Crashing
Crashing- A technique used to shorten the schedule duration for the least incremental cost by adding resources. Examples of crashing include approving overtime, bringing in additional resources, or paying expedite delivery to activities on the critical path. Crashing work only for activities on the critical path where additional resources will shorten the activity’s duration.
See Section 6.5.2.6 Schedule compression
What are the two primary methods of resource optimization?
- Resource Leveling: A technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing the demand for resources with the available supply.
- Resource smoothing: A technique that adjusts the activities of a schedule model such that the requirements for resources on the project do not exceed certain predefined resource limits
What are two methods of schedule compression.
- Crashing: A technique used to shorten the schedule duration for the least incremental cost by adding resources. Examples of crashing include approving overtime, bringing in additional resources, or paying to expedite delivery to activities on the critical path.
- Fast Tracking: A schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration. An example is constructing the foundation for a building before completing all of the architectural drawings. Fast tracking may result in rework and increased risk.
What is a tool and technique of the Develop Schedule process?
a. Rolling wave planning
b. Analogous estimating
c. Leads and lags
d. Precedence diagramming method
c. Leads and lags
Develop-Tools and Techniques:
- Schedule network analysis,
- Critical path method
- resource optimization
- data analysis (What-if scenario analysis; simulation)
- Leads and Lags,
- Schedule compression,
- Project management information system,
- agile release planning.
See Figure 6-14
The “fast tracking” method of schedule compression involves:
a. Assigning “dedicated teams” to critical path activities to achieve project schedule objectives.
b. Going on a “mandatory overtime schedule” to complete project on schedule or earlier if possible
c. The use of industrial engineering techniques to improve productivity, thereby finishing the project earlier than originally planned.
d. Performing in parallel for a portion of their duration activities or phases that are normally done in sequence may result in rework and increased risk.
d. Performing in parallel for a portion of their duration activities or phases that are normally done in sequence may result in rework and increased risk.
Fast tracking is schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration. Fast tracking may result in rework and increased risk. Fast tracking only works when activities can be overlapped to shorten the project duration on the critical path. Fast tracking may increase project costs.
See Section 6.5.2.6 Schedule compression
The critical path is established by calculating the following dates:
a. Early start, early finish, late start, late finish.
b. Start-to-start, start-to-finish, finish-to-finish, finish-to-start.
c. Primary-to-secondary, primary-to-finish, secondary-to-secondary, finish-to-finish
d. Predecessor-to-successor, predecessor-to-predecessor, successor-to-successor.
a. Early start, early finish, late start, late finish.
The critical path method is used to estimate the minimum project duration and determine the amount of schedule flexibility on the logical network paths within the schedule model. This schedule network analysis technique calculates the early start, early finish, late start and the late finish dates for all activities without regard for any resource limitations by performing a forward and backward pass analysis through the schedule network.
See Section 6.5.2.2 Critical Path Method
