Podcast
Questions and Answers
What is the key difference between top-down estimates and bottom-up estimates?
What is the key difference between top-down estimates and bottom-up estimates?
- Top-down estimates are used when project scope is well-defined.
- Top-down estimates are more accurate than bottom-up estimates.
- Top-down estimates are carried out by subject-matter experts, while bottom-up estimates are carried out by senior management.
- Top-down estimates are based on general project information, while bottom-up estimates are based on detailed tasks. (correct)
Which approach is used when a project's scope is well-defined and can be broken down into smaller tasks?
Which approach is used when a project's scope is well-defined and can be broken down into smaller tasks?
- Bottom-up approach (correct)
- Analogous estimation
- Parametric estimation
- Top-down approach
What is the purpose of parametric estimation in project management?
What is the purpose of parametric estimation in project management?
- To carry out top-down estimating
- To provide a general overview of project costs
- To multiply the number of units needed by the time it takes to produce the units (correct)
- To estimate the cost of building a house
Why might an application software not work on an upgraded software layer according to the text?
Why might an application software not work on an upgraded software layer according to the text?
When is analogous estimation typically used in project management?
When is analogous estimation typically used in project management?
Based on the text, which approach provides a more accurate estimate for a project?
Based on the text, which approach provides a more accurate estimate for a project?
Which of the following is a technique that allows the project manager to estimate activity duration by using historical information from similar projects?
Which of the following is a technique that allows the project manager to estimate activity duration by using historical information from similar projects?
In project management, if a task's early start date is 5 and its late start date is 8, what is the difference referred to as?
In project management, if a task's early start date is 5 and its late start date is 8, what is the difference referred to as?
When a project manager subdivides the project scope and deliverables into smaller, more manageable components, what technique is being used?
When a project manager subdivides the project scope and deliverables into smaller, more manageable components, what technique is being used?
Which approach in project management involves estimating activity durations by breaking down the work package into smaller, more manageable tasks?
Which approach in project management involves estimating activity durations by breaking down the work package into smaller, more manageable tasks?
What type of relationship exists when a landscaping task must start before the completion of an office building?
What type of relationship exists when a landscaping task must start before the completion of an office building?
What formula is used in PERT analysis to calculate the weighted average for work to be done?
What formula is used in PERT analysis to calculate the weighted average for work to be done?
In a three-point estimate for activity duration estimating, what do the letters P, ML, and O stand for?
In a three-point estimate for activity duration estimating, what do the letters P, ML, and O stand for?
Which estimation technique uses historical data from similar past projects to estimate the time and cost of a current project?
Which estimation technique uses historical data from similar past projects to estimate the time and cost of a current project?
In project management, which assumption does Analogous Estimation rely on?
In project management, which assumption does Analogous Estimation rely on?
What is a key characteristic of the bottom-up approach in project estimation?
What is a key characteristic of the bottom-up approach in project estimation?
