PM03 Project Planning - Estimating Technique

What is the basis for determining and controlling the project budget?

• Estimating cost

• Project scheduling

• Resource allocation

• Quality assurance

Which project estimation process involves finalizing the project budget first?

• Top-Down Estimation

• Bottom-Up Estimation

• Parametric Estimation

• Analogous Estimation

Which estimating technique is based on the previous project to estimate for a new project?

• Bottom-Up Estimation

• Analogous Estimation

• Top-Down Estimation

• Parametric Estimation

What is the formula for the Three-Point Estimation technique?

a- best scenario

b- normal scenario

c - worst scenario

• (a + b + c) / 2

• (a + b + c) / 4

• (a + b + c) / 3

• (a + b + c) / 5

Which estimating technique is known for being very detailed in nature?

• Top-Down Estimation

• Bottom-Up Estimation

• Analogous Estimation

• Parametric Estimation

What is an advantage of the Parametric Estimation technique?

• Detailed estimation

• Higher accuracy

• Based on repeatable tasks

• Quick and simple

What is a disadvantage of the Analogous Estimation technique?

• Two projects can never be exactly the same

• Gives maximum accuracy

• Based on repeatable tasks

• Quick and simple

What is a disadvantage of the Three-Point Estimation technique?

• Based on probability

• Gives maximum accuracy

• Gives realistic estimates

• Complicated technique for complex projects