A project manager is estimating the project duration and finds that the only information available to him is a previous project that was quite different from the current one. However, some portions of the previous project were similar to the current one. Which of the following tools is the project manager likely to use?
A. Analogous estimating
B. Program Evaluation and Review Technique (PERT)
C. Three-point estimates
D. Multicriteria decision analysis
John, a project manager, for Code Crashers Inc. has been assigned a project where he must lead a group of inexperienced programmers in developing a software package that creates Material Safety Data Sheets (MSDS) for a chemical company. This is very similar to a project that his colleague, Peter, worked on in 2006, with some junior programmers. If John needs to come up with a rough order of magnitude estimate, what tool or technique should he use?
A. Parametric Estimating
B. Bottom Up Estimating
C. Three-point estimate
D. Analogous Estimating
Which of the following estimating techniques will cost less, but is also generally less accurate?
A. Parametric Estimating
B. Analogous Estimating
C. Resource cost based Estimating
D. Bottom-up Estimating
In which of the following situations would it be better to avoid using Analogous Estimating?
A. When the project team members have the needed expertise
B. When an accurate estimate is required
C. When a low value estimate is required
D. When the previous activities are similar in fact and not just appearance
If you are working on a project where there is no definite project detailed scope, but similar projects have been completed in the past, what is the correct Estimate Activity Durations tool to use?
A. Analogous Estimating
B. Parametric Estimating
C. Critical Path Estimation
D. Three Point Estimating
Analogous Estimating is an estimation technique that use the values of parameters such as scope, cost, budget and duration from a previous similar activity as the basis of activity and is frequently used to estimate when there is a limited amount of information about the project. This is a form of:
A. Gross value estimation
B. Function point estimation
C. Fixed point estimation
D. Precision Estimation