16 Questions
What is the key difference between top-down estimates and bottom-up estimates?
Top-down estimates are based on general project information, while bottom-up estimates are based on detailed tasks.
Which approach is used when a project's scope is well-defined and can be broken down into smaller tasks?
Bottom-up approach
What is the purpose of parametric estimation in project management?
To multiply the number of units needed by the time it takes to produce the units
Why might an application software not work on an upgraded software layer according to the text?
As a result of a conflicting API or compiled library
When is analogous estimation typically used in project management?
For quick, high-level cost estimates
Based on the text, which approach provides a more accurate estimate for a project?
Bottom-up approach
Which of the following is a technique that allows the project manager to estimate activity duration by using historical information from similar projects?
Analogous estimation
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?
Free float
When a project manager subdivides the project scope and deliverables into smaller, more manageable components, what technique is being used?
Decomposition
Which approach in project management involves estimating activity durations by breaking down the work package into smaller, more manageable tasks?
Bottom-up approach
What type of relationship exists when a landscaping task must start before the completion of an office building?
Finish-to-start with a 15-day lead
What formula is used in PERT analysis to calculate the weighted average for work to be done?
(P+4ML+O)/6
In a three-point estimate for activity duration estimating, what do the letters P, ML, and O stand for?
Pessimistic, Most Likely, Optimistic
Which estimation technique uses historical data from similar past projects to estimate the time and cost of a current project?
Top-Down Estimation
In project management, which assumption does Analogous Estimation rely on?
Assuming the current project is similar to past projects
What is a key characteristic of the bottom-up approach in project estimation?
It starts with detailed tasks and rolls up to project level estimates
Explore the concept of bottom-up estimation, a detailed approach used in project management. Learn how to estimate the cost of a project based on individual tasks, especially when the project scope is well-defined and can be broken down into smaller components.
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