Podcast
Questions and Answers
Which technique is used to numerically analyze the effect of identified risks on overall project objectives?
Which technique is used to numerically analyze the effect of identified risks on overall project objectives?
- Three-point estimating
- Parametric estimating
- Bottom-up estimating
- Sensitivity analysis (correct)
What is the statistical concept that calculates the average outcome when considering scenarios that may or may not happen?
What is the statistical concept that calculates the average outcome when considering scenarios that may or may not happen?
- Parametric estimating
- Bottom-up estimating
- Reserve analysis
- Expected monetary value (EMV) analysis (correct)
Which method involves translating the detailed uncertainties of a project into a model to understand their impact on project objectives?
Which method involves translating the detailed uncertainties of a project into a model to understand their impact on project objectives?
- Reserve analysis
- Bottom-up estimating
- Modeling and simulation (correct)
- Three-point estimating
What technique involves multiplying the value of each possible outcome by its probability of occurrence and summing these products to calculate project outcomes?
What technique involves multiplying the value of each possible outcome by its probability of occurrence and summing these products to calculate project outcomes?
What is the formula for Triangular Distribution?
What is the formula for Triangular Distribution?
Which reserve accounts for known-unknowns and is included in the schedule baseline?
Which reserve accounts for known-unknowns and is included in the schedule baseline?
What does the PERT technique use to calculate the estimate (tE)?
What does the PERT technique use to calculate the estimate (tE)?
Which estimate is based on the worst-case scenario for an activity?
Which estimate is based on the worst-case scenario for an activity?
What is the formula for Triangular Distribution according to the text?
What is the formula for Triangular Distribution according to the text?
Which reserve is associated with the known-unknowns?
Which reserve is associated with the known-unknowns?
What is the formula for Beta Distribution (traditional PERT technique) according to the text?
What is the formula for Beta Distribution (traditional PERT technique) according to the text?
Which technique is NOT listed as a method to improve cost estimate accuracy in the text?
Which technique is NOT listed as a method to improve cost estimate accuracy in the text?
