You are the project manager of a construction project scheduled to last 24 months. Which input to this process will help you the most? You are the project manager for the CSR Training Project, and 21,000 customer service reps are invited to attend the training session. Question 1. You are the project manager for the GHG Project. Ans. Which of the following terms best describes extra money in the project budget to be used if necessary - usually if a risk event occurs? There are five developers in the team. b. Enterprise Environmental Factor B. Cost of Quality. Analogous estimating c. Reserve analysis d. Parametric analysis. 24. When Amy looks at the change, she tells the team that the change will pass through project's cost change control system. a. reserve 10. Bottom-up estimating is a way to approximate an overall value by approximating values for smaller components and using the sum total of these values as the overall value. Analogous estimating. Question: A program is defined in the PMBOK as: A. He needs to complete what type of report? You are now 40 percent done with the project, though your plan called for you to be 45 percent done with the work by this time. C. You are the project manager for a new technology implementation project. In doing so, it often sacrifices accuracy for expedience. C. Which of the following best describes analogous estimating? You are the project manager for a new technology implementation project. Which of the following best describes enterprise environmental factors? Found inside Page 121Using Top - Down Estimating A top - down estimate allows a project manager similar to past accomplishments , analogous estimating may be your best bet . You are using a previous similar project to predict the costs of the current project. Parametric Estimate Project team members report they are 30 percent complete with the project. Parametric EstimationB. 2003-2021 Chegg Inc. All rights reserved. Which one of the following methods of estimating will provide the most accurate estimate? PMP Question No 2072 - Cost. 20 seconds. For every 5,000 workbooks created, the cost is reduced by a percentage of the original printing cost. The project expenses, however, were 15 percent more than what the project called for. False 9. Report an issue. Of the following cost-estimating inputs, which one is the least reliable? Found inside Page 751Which of the following best describes funding limit reconciliation? A. Parametric estimation B. Analogous estimation C. Bottom-up estimation D. Top-down What is the variance at the completion for this project? Found inside Page 91analogous functions in connectionist networks and their application to several alternative algorithmic models best describes the behavior of the system. we have the experience and knowledge to provide the best possible academic support for your academics. False. A. Regression analysis B. Bottom-up estimating C. Less accurate D. More accurate. Found inside Page 164Which of the following BEST describes the practice they are using? A. Planning poker B. Convergence planning C. Sprint planning D. Analogous estimation Exam It is also a method that is used in the 'estimate cost' process in PMI's Project Management Body of Knowledge (see PMBOK, 6 th ed., ch. Which of the following best describes how project managers can utilize an organizational chart? C. This type of estimating looks to historical figures for comparable endeavors as a basis for estimating the project as a whole. Analogous estimating. Generally, parametric estimating requires less information and time than analogous estimating. A. Regression analysis B. Bottom-up estimating C. Organizational process assets D. Enterprise environmental factors. Project WQQ is worth $217,000, while Project LB is worth $229,000. A. Regression analysis B. Bottom-up estimating C. Less accurate D. More accurate. Which of the following best describes analogous estimating?. Experts are tested by Chegg as specialists in their subject area. You are the project manager for the GHG Project. Found inside Page 144A. B. C. D. Empirical Estimating Analogous Estimating Parametric Estimating Select from the following the BeSt statement to describe the status of your . Project document Top-down estimating d. Enterprise environmental factors ; Question: Question 6 You are using a previous similar project to predict the costs of the current project. Which of the following best describes analogous estimating? Marty is the project manager of a software development project. The four major analytical methods or cost estimation techniques used to develop cost estimates for acquisition programs are Analogy, Parametric (Statistical . Found inside Page 146These are analogous to (and are very similar to) the models presented by Children point to one of four pictures that best describes a word's meaning. Found inside Page 16The 3929 sample individuals are used to estimate 'a' and 'b' for the population, by finding the straight line that best describes the average relationship a. reserve 10. Get it solved from our top experts within 48hrs! It can be quickly created because it is based on expert knowledge of an area from previous projects. 2007-2021 Transweb Global Inc. All rights reserved. C. Organizational process assets. You have elected to rent a piece of equipment for the project's duration, even though you will need the equipment only periodically throughout the project. Analogous estimating is a technique that involves using either historical data or the experience of estimators to determine the expected duration of an activity. Subsequently, the (re-)estimation of the project cost is repeated on an ongoing basis to account for more detailed information or changes to the scope or . Which of the following best describes analogous estimating? A. You are using a previous similar project to predict the costs of the current project. True. Factors that affect teams at an enterprise level from within the organization. This type of estimate works best for standardized, and often repeated, activities. This is an example of which of the following? . Bottom-up. Question - 3 Which statement is true about project cost? a. Bottom-up Estimating. When you come up with a project, you must allocate resources meant to make you meet your targets and the timeframe that you want to accomplish. 2. Estimate Cost is the process of developing an approximation of the monetary resources needed to complete project activities. The scope of the project includes all the planning work to be done, whereas the scope of . You are the project manager of the BHG Project. This estimation technique is known as top-down estimating as well. The activity list is an output of the Define Activities process. Log into your existing Transtutors account. You can estimate Duration, Cost or any other variable by using both these methods. You are using a previous similar project to predict the costs of the current project. The project will be using a new material that the project team has never worked with before. July 29, 2021 / PMP / 8 Comments. Your BAC is $600,000. A : analogous estimating B : parametric estimating C : bottom-up estimating D : Monte Carlo estimating Correct Answer : B 32 : All of the following factors must be in place in order to develop an analogous estimate effectively EXCEPT: A : An organization must know details behind the time value of money. You and your project team are about to enter a meeting to determine project costs. Analogous estimating is a top-down estimation technique for estimating the cost, resources and durations of projects (according to PMBOK, 6 th edition, ch. Found inside Page 115A. Analogous estimating B. Parametric estimating C. Three-point estimates D. Reserve analysis 5. Which of the following is NOT a tool and technique for the

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