Section 1.2 Elements of Analysis

Question 1

1

ANALYSIS

Answer 1

1

The examination of a complex whole and the separation and identification of its constituent parts and their relationships.

Question 2

2

BASELINE

Answer 2

1

In project control, the reference plans in which cost, schedule, scope and other project performance criteria are documented and against which performance measures are assessed and changes noted.
2

The budget and schedule that represent approved scope of work and work plan. Identifiable plans, defined by
databases approved by project management and client management, to achieve selected project objectives. It
becomes basis for measuring progress and performance and is baseline for identifying cost and schedule
deviations

Question 3

1

Codes of Accounts

Answer 3

1

A systematic coding structure for organizing and managing scope, asset, cost, resource, work, and schedule activity information.

A COA is essentially an index to facilitate finding, sorting, compiling, summarizing, or otherwise managing information that the code is tied to. A complete code of accounts includes definitions of the content of each account

Question 4

1

DEMING CYCLE

Answer 4

1

PLAN

DO

CHECK

ACT

(PDCA) CYCLE.

Question 5

1

VALUE ENGINEERING

Answer 5

1

A practice function targeted at the design itself, which has as its objective the development of design of a facility or item that will yield least life-cycle costs or provide greatest value while satisfying all performance and other criteria established for it

Question 6

1

Scope

Answer 6

1

The sum of all that is to be or has been invested in and delivered by the performance of an activity or
project

Question 7

1

The goal of estimate classification

Answer 7

1

The goal of estimate classification is to define the technical and project deliverables required to prepare an effective estimate.

Question 8

1

ACCURACY

Answer 8

1

Correctness that the measured value is very close to the true value

Question 9

1

What is the end usage of Class 1

Answer 9

1

Check estimate or bid / tender

Question 10

1

What is the end usage of Class 2

Answer 10

1

Control or bid / tender

Question 11

1

What is the end usage of Class 3

Answer 11

1

Budget authorization or control

Question 12

1

What is the end usage of Class 4

Answer 12

1

Concept study or feasibility

Question 13

1

What is the end usage of Class 5

Answer 13

1

Screening of feasibility

Question 14

1

What is the methodology for Class 1

Answer 14

1

Deterministric

Detailed unit cost with detailed take off

Question 15

1

What is the methodology for Class 2

Answer 15

1

Primarily deterministic

Detailed unit cost with forced detailed take off

Question 16

1

What is the methodology for Class 3

Answer 16

1

Mixed but primarily stochastic

Semi detailed unit cost with assembly level line items

Question 17

1

What is the methodology for Class 4

Answer 17

1

Primarily stochastic

Equipment factored or parametric models

Question 18

1

What is the methodology for Class 5

Answer 18

1

Stochastic (factors or models) or judgment

Capacity factor, parametrics models