Parkinson's Law and Effective Estimating Quiz

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What factor is likely to contribute to a more accurate estimate?

Relying solely on guesses and assumptions

The individual providing the estimate taking ownership (correct)

Ignoring historical data

Having multiple individuals involved in the estimation process

In the three-point estimating technique, what does the figure represent?

Optimal time for completion

Cost overruns

Possible scenarios with optimistic and pessimistic estimates (correct)

Number of tasks completed per day

What does the distribution of estimates add to the estimating process?

Adds knowledge and common sense (correct)

Delays the project timeline

Increases project costs

Creates confusion and uncertainty

Which of the following factors directly impacts human productivity?

Productivity factor and labor cost Signup and view all the answers

What does Parkinson's Law suggest about work and time?

Work increases to match the time available Signup and view all the answers

How does ownership of an estimate affect its accuracy?

Increases accuracy when the estimator takes ownership Signup and view all the answers

Which source provides the most accurate estimates?

Historical data from similar projects Signup and view all the answers

Which technique involves using a formula to calculate an estimate?

Parametric estimating Signup and view all the answers

What is the purpose of the human productivity factor in estimating?

To account for the impact of team experience on productivity Signup and view all the answers

Which estimating technique uses a weighted average of optimistic, pessimistic, and most likely estimates?

Three-point estimating Signup and view all the answers

What is a common approach for determining the distribution of estimates across work packages?

Distribute estimates based on the complexity of each work package Signup and view all the answers

What is the primary consideration when making trade-offs between time, cost, and resources?

Achieving the desired balance between constraints Signup and view all the answers

Which of the following is NOT a benefit of using three-point estimates for project estimation?

It provides a single, definitive estimate for project duration Signup and view all the answers

What is the primary purpose of the Program Evaluation and Review Technique (PERT)?

To apply a weighing factor to three-point estimates Signup and view all the answers

Which of the following statements about project estimates is TRUE?

Estimates are projections into the future that are inherently uncertain Signup and view all the answers

What is the purpose of the 'Plan Procurement Management' process in project management?

To outline how procurement processes will be managed throughout the project Signup and view all the answers

Which of the following is NOT one of the three sets of assumptions used in the three-point estimates technique?

Human productivity factor Signup and view all the answers

What is the relationship between best-case assumptions and project success, according to the text?

Best-case assumptions are likely to set your project up for failure Signup and view all the answers