Question - 1
Given the following estimates: Optimistic 3 days, Pessimistic 9 days, and most likely 6 days,what is the PERT weighted average?
A.6B.4C.6.3D.6.1Answer :A is the correct answer.Optimistic = Co , most likely = Cm, Pessimistic = Cp. PERT weighted average = (Co + 4Cm +Cp)/6 = (3+4*6+9)/6 = 36/6 = 6Question - 2
If you have elected to use parametric modeling in your Estimate Costs for the project.Which one of the following is an example of parametric modeling?
A.$120 per kgB.Historical information from a similar projectC.Estimates built from bottom-up based on the WBSD.Estimates based on top-down budgetingAnswer :A is the correct answer.A is correct; $120 per ton is an example of parametric modeling. Parametric modeling : Using project characteristics (or parameters) in a mathematical model to predict costs (e.g., price per square foot). B is incorrect, as historical information is analogous, not parametric. C is incorrect,Bottom-up estimating is not parametric modeling. and D is incorrect, top-down budgeting isrelated to Analogous estimating .Question - 3
Your company has been hired to configure softwares in 500 computers. All computer needequal time to configure. The contract for the project is set at a fixed cost, the incentivebeing the faster the project work is completed, the more the profitable the job.Management has requested that you study the work method to determine a faster, lesscostly, and better method to complete the project. This is an example of which one of thefollowing?