week 3

Question 1

What is a Scope Statement?

Answer 1

Identifies project objectives and “deliverables”

Puts boundaries around what is and what is not covered by the project.

Question 2

Project scope checklist

Answer 2

Project objective
Deliverables
Milestones
Technical requirements
Limits and exclusions
Reviews with customer

Question 3

Bottom-up approach

Answer 3

Based on estimates or elements found in the WBS

Question 4

Top-down approach

Answer 4

Derived from analogy, group consensu or mathmatical relationships
-analogy, group consensus, or mathematical relationships

Question 5

Planning fallacy

Answer 5

-Plans and forecasts that are unrealistically close to best case scenarios

Question 6

Estimating

Answer 6

• The process of forecasting the time and cost of completing project deliverables
• The task of balancing expectations of stakeholders and need for control while the project is implemented

Question 7

Factors influencing the quality of estimates

Answer 7

• Planning Horizon
• Project complexity
• People
• Project structure and organisation
• Padding estimates
• Organisation culture
• Other (non-project) factors

Question 8

What are the 7 guidelines for estimating time,cost and resources

Answer 8

• Have people familiar with the tasks make the estimate
• Use several people to make estimates
• Base estimates on normal conditions, efficient methods, and a normal level of resources
• Use consistent time units in estimating task times
• Treat each task as independent, don’t aggregate
• Do not make allowances for contingencies.
• Add a risk assessment to avoid surprises to stakeholders

Question 9

Top-down approaches methods

Answer 9

Consensus methods
Ratio methods (sometimes called parametric)
Apportion method
Function point methods for software and system projects
Learning curves

Question 10

Bottom-down approach methods

Answer 10

Template methods
Parametric procedures applied to specific tasks
Range estimates for the WBS work packages
Phase estimating: A hybrid

Question 11

Top-down estimate intended use

Answer 11

• Feasibility/conceptual phase
• Rough time/cost estimate
• Fund requirement
• Resource capacity

Question 12

Bottom-up estimate intended use

Answer 12

• Budgeting
• Scheduling
• Resource requirements
• Fund timing

Question 13

Types of costs

Answer 13

• Direct costs
• Direct (project) Overhead costs
• General and Admin overhead costs