Analogous estimating Study guides, Class notes & Summaries

Which Kanban key performance indicator allows teams to make reliable commitments about how long it takes them to deliver work? A. Defects B. Cycle time C. WIP D. Velocity - ANS B. Cycle time Explanation : Cycle time is the amount of time it takes for a team to complete a task from start to finish. It is a key performance indicator that allows teams to make reliable commitments about how long it takes them to deliver work. The Project Manager is currently estimatin...

Acceptance Criteria Correct Answer A set of conditions that is required to be met before deliverables are accepted. Accuracy Correct Answer Within the quality management system, accuracy is an assessment of correctness. Activity List Correct Answer A documented tabulation of schedule activities that shows the activity description, activity identifier, and a sufficiently detailed scope of work description so project team members understand what work is to be performed. Actual Cost (AC) ...

APM PMQ - Project Delivery Exam Questions & Answers | Passed Purpose of estimates - ️️ 1) Use in investment appraisals 2) Creating a resource schedule 3) Budget setting 4) Risk analysis + contingency determination Benefits of re-estimating - ️️ 1) reduced contingency reserves 2) greater team involvement 3) Incorporate lessons learned 4) increased chance of adhering to estimates 5) decreased risk of estimating errors Approaches for estimating: - ️️ PAAD 1) Parametric (using...

A Guide to the Project Management Body of Knowledge (PMBOK Guide) - -The project management standard developed by the Project Management Institute. Acceptance criteria - -The process and the criteria that will be used to determine whether the deliverables are acceptable and satisfactory. Activity duration - -Assessing the number of work periods needed to complete the project activities. Work periods are usually expressed in hours or days. Large projects might express duration in weeks or...

MAN4583 Exam 2 Prep Fall 2023/2024 Qs&As Analogous estimating - ANS-If you are estimating costs based on historical data from experience with a comparable project, you are using: Critical path - ANS-To find the ______ activities with zero slack, you have to calculate the forward and backward pass through your network Burst - ANS-In your network diagram, A is a predecessor for B, C, and D. Therefore, A is a ______ activity. Late Start - Early Start - ANS-To find the free slack (float) for...

1. One common way to compute estimate at completion (EAC) is to take the budget at completion (BAC) and: A. Divide by SPI B. Multiply by SPI C. Multiply by CPI D. Divide by CPI Answer D This question is asking for the formula for EAC, which is BAC/CPI. Notice how you will have to remember the formula to get the answer correct. 2. Estimate at completion (EAC) is a periodic evaluation of: A. The cost of work completed B. The value of work performed C. The anticipated total c...

SUMMATIVE PROJECT – RESOURCE ALLOCATION 4 Introduction Organizations, especially healthcare, are consistently looking for technological advances within their field. New forms of technology allow for market growth and pioneering new options for their patients. Many times, this requires adapting business practices and strategies centered around new technology. BCH is focused on offering telemedicine services to their areas within a 12-month project timeline. This report will seek to show t...

1. One common way to compute estimate at completion (EAC) is to take the budget at completion (BAC) and: A. Divide by SPI B. Multiply by SPI C. Multiply by CPI D. Divide by CPI Answer D This question is asking for the formula for EAC, which is BAC/CPI. Notice how you will have to remember the formula to get the answer correct. 2. Estimate at completion (EAC) is a periodic evaluation of: A. The cost of work completed B. The value of work performed C. The anticipated total c...

CISA Exam 122 Questions and Terms 122 Questions with Verified Answers COBIT Framework - CORRECT ANSWER Framework developed by ISACA to support EGIT by providing a framework to ensure that IT is aligned with the business, IT enables the business and maximizes benefits, IT resources are used responsibly, and IT risk is managed appropriately. (ISO)/International Electrotechnical Commission (IEC) 27000 series - CORRECT ANSWER A set of best practices that provides guidance to organizations impl...

CAPM Practice Exam 151 Questions with Verified Answers What includes the reasons for project initiation, objectives and a decision on the project? - CORRECT ANSWER Business Case Crashing - CORRECT ANSWER A technique used to shorten the schedule duration for the least incremental cost by adding resources. Fast-Tracking - CORRECT ANSWER A schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duratio...