Unit 9

Question 1

Estimating techniques are …

Answer 1

Comparative - compare and adjust old project
Parametric - measured quantity (eg area)
Bottom-up - WBS is used
3-point estimates - min (optimistic O), most likely (M), max (pessimistic P)
=(O + 4M + P)/6

Question 2

EVM is

Answer 2

Earned Value Management
completed work vs budget assigned
allows you to forecast based on trends

Needs WBS & OBS (and CBS)
Method for measuring
Not easy to do!