2nd 250 Cards Flashcards
(235 cards)
What is the “Estimate Activity Durations” process?
This is analyzing each activity to determine how long each will take to accomplish.
What are the inputs of the “Estimate Activity Durations” process?
1) Project Management Plan
2) Project Documents:
a) activity List
b) activity attributes
c) assumption log
d) milestone list
e) resources calendars
f) risk register
g) resource break down structure
h) lessons learned register
i) project team assignments
j) resource requirements
3) Enterprise Environmental Factors
4) Organizational Process Assets
What are the tools and techniques of the “Estimate Activity Durations” process?
1) Expert judgment
2) analogous estimating
3) Parametric estimating
4) 3-Point estimating
i) optimistic
ii) realistic
iii) pessimistic
a) beta distributing
b) standard deviation
c) triangular distribution
5) Bottom-up estimating
6) Data analysis
7) Decision making
8) Meetings
What are the outputs of the “Estimate Activity Durations” process?
1) Duration estimates
2) Basis of Estimates
3) Project Documents Updates
What is an “activity list”?
This is the list of all the activities on the project. This list will be needed to estimate the duration of each activity.
What are “activity attributes”?
These provide more information about each activity This can include information that could affect the duration, such as location, leads, lags, and cost.
What is an “assumption log”?
This will keep track of any assumptions that are made during the project. Assumptions and constraints could affect how the schedule is built and may impact the lead and lag between activities.
What is a “milestone list”?
This is added to the sequence of activities.
What are “resource calendars”?
These show the availability of resources, which significantly affect the duration of each activity. If no resources are available, this negatively impacts the duration.
What is a “risk register”?
This lists all the identified project risks, as well as their impact and response. Risk response can lead to adding reserve time to activities.
What is a “resource break down structure”?
This the hierarchal breakdown of resources by their categories and types.
What is the “lessons learned register”?
The listing of all the lessons learned so far on the project. Previous lessons learned on the project can help to increase the accuracy of the duration estimates.
What is a “project team assignment”?
This is the listing of the project team that will be assigned to complete the work. The project manager needs to know what everyone is doing and for what duration.
What are “resource requirements”?
These are resources needed to complete each activity which affects the duration of each activity.
What is “analogous estimating”?
Aka top-down estimating. This relies on historical information to assign a current duration to the activities. It is based on a limited amount of information. It is a quick method, but considered less accurate.
What is “parametric estimating”?
This uses a mathematical algorithm to calculate cost or duration. The algorithm is based on historical data and variables. This type can be very accuate.
What is “3-point estimating”? What are the 3 different types of this estimation process?
Utilizing 3 different valuables to calculate the duration or cost of an activity.
1) Optimistic
2) Realistic
3) Pessimistic
What is “PERT”?
Program Evaluation and Review Technique
What is the formula for “PERT Beta Distribution”?
This is adding ( optimistic + 4 * realistic + pessimistic ) / 6 variables. aka weighted average.
What is the formula for “Standard Deviation”?
( Pessimistic - Optimistic ) / 6
This is used to offer a range of a project.
What is “triangular distribution”?
This is the average of 3 variables.
What is “bottom-up estimating”?
Usually the most accurate method. It is breaking down the work of the project to the most basic level and then aggregating the work back up to determine the duration.
What is “reserve analysis”?
This is adding extra time to duration for risks.
What are “duration estimates”?
This is an estimate of how long something takes to complete.