Hello everyone! Test your PMP exam preparation and answer this Free PMP® Exam Sample Question of the week. For more of this free PMP exam sample question visit: https://free.pm-exam-simulator.com/free-pmp-exam-simulator
The project manager meets with a customer to discuss an upcoming project. When asked for a rough estimate of the project duration, the project manager provides a range of 8-10 months based on their experience with three similar past projects. This technique of estimating a project's parameters based on comparable historical projects is called analogous estimating. The project manager is using analogous estimating to give the customer a ballpark estimate since few details are known about the new project.
Hello everyone! Test your PMP exam preparation and answer this Free PMP® Exam Sample Question of the week. For more of this free PMP exam sample question visit: https://free.pm-exam-simulator.com/free-pmp-exam-simulator
This document is a term paper on project cost estimation for a software project management course. It discusses various techniques for estimating project costs, including expert judgement, analogous estimating, parametric estimating, bottom-up estimating, and three-point estimates. It also covers related work done in previous studies comparing different cost estimation models from the 1970s to today. The paper aims to analyze different software project cost estimation metrics and models.
This document summarizes Muhammad Qasim Wali's presentation on software cost estimation techniques. The presentation defines cost estimation and discusses where in the software development lifecycle estimates are done. It then explains seven techniques for performing cost estimation: algorithmic models, analogy, expert judgement, top-down, bottom-up, price to win, and Parkinson's law. For each technique, the presentation provides a brief description and lists advantages and disadvantages.
The document discusses project cost estimation, including the different components that must be estimated such as labor, equipment, supplies, and overhead costs. It describes several techniques that can be used for cost estimation, including analogous estimating based on similar past projects, parametric estimation using statistical models, and three-point estimation providing low, most likely, and high estimates. The document also covers bottom-up and top-down approaches to cost estimation, with bottom-up estimating each task separately and top-down first estimating total costs and then breaking it down. It emphasizes the importance of accuracy in cost estimation and choosing the appropriate technique depending on the project.
This document proposes a new approach for software project estimation that combines existing estimation techniques. It involves using case-based reasoning to retrieve similar past projects, reusing their estimates, and revising the estimates based on new parameters and delay-causing incidents. The approach allows parameters to be added dynamically during project execution to make estimates more context-sensitive and help converge to actual values. A prototype tool has been implemented to demonstrate calculating estimates by dynamically selecting parameters and computing similarity indexes between current and past projects.
Hello everyone! Test your PMP exam preparation and answer this Free PMP® Exam Sample Question of the week. For more of this free PMP exam sample question visit: https://free.pm-exam-simulator.com/free-pmp-exam-simulator
The project manager meets with a customer to discuss an upcoming project. When asked for a rough estimate of the project duration, the project manager provides a range of 8-10 months based on their experience with three similar past projects. This technique of estimating a project's parameters based on comparable historical projects is called analogous estimating. The project manager is using analogous estimating to give the customer a ballpark estimate since few details are known about the new project.
Hello everyone! Test your PMP exam preparation and answer this Free PMP® Exam Sample Question of the week. For more of this free PMP exam sample question visit: https://free.pm-exam-simulator.com/free-pmp-exam-simulator
This document is a term paper on project cost estimation for a software project management course. It discusses various techniques for estimating project costs, including expert judgement, analogous estimating, parametric estimating, bottom-up estimating, and three-point estimates. It also covers related work done in previous studies comparing different cost estimation models from the 1970s to today. The paper aims to analyze different software project cost estimation metrics and models.
This document summarizes Muhammad Qasim Wali's presentation on software cost estimation techniques. The presentation defines cost estimation and discusses where in the software development lifecycle estimates are done. It then explains seven techniques for performing cost estimation: algorithmic models, analogy, expert judgement, top-down, bottom-up, price to win, and Parkinson's law. For each technique, the presentation provides a brief description and lists advantages and disadvantages.
The document discusses project cost estimation, including the different components that must be estimated such as labor, equipment, supplies, and overhead costs. It describes several techniques that can be used for cost estimation, including analogous estimating based on similar past projects, parametric estimation using statistical models, and three-point estimation providing low, most likely, and high estimates. The document also covers bottom-up and top-down approaches to cost estimation, with bottom-up estimating each task separately and top-down first estimating total costs and then breaking it down. It emphasizes the importance of accuracy in cost estimation and choosing the appropriate technique depending on the project.
This document proposes a new approach for software project estimation that combines existing estimation techniques. It involves using case-based reasoning to retrieve similar past projects, reusing their estimates, and revising the estimates based on new parameters and delay-causing incidents. The approach allows parameters to be added dynamically during project execution to make estimates more context-sensitive and help converge to actual values. A prototype tool has been implemented to demonstrate calculating estimates by dynamically selecting parameters and computing similarity indexes between current and past projects.
Web Engineering - Web Effort EstimationNosheen Qamar
The document discusses various techniques for estimating effort in web development projects, including expert opinion, algorithmic models, and artificial intelligence. It describes expert opinion as a subjective approach based on previous experience, while algorithmic models attempt to formalize relationships between effort and factors like project size through equations. The document also explains case-based reasoning and regression trees as popular artificial intelligence techniques, with case-based reasoning estimating effort by comparing new projects to similar past projects.
The document provides 117 questions from a PMP question bank divided into multiple sets. It tests knowledge on various project management topics like scope management, time management, cost management, quality management etc. Specifically, it covers concepts like work breakdown structure (WBS), scope planning, scope definition, scope verification, change control, cost estimating techniques like analogous estimating, definitions of estimates like definitive estimate, benefits of having a project charter, opportunity costs etc. The questions have multiple choice answers provided at the end.
Project cost management includes planning, estimating, budgeting, and controlling costs to complete a project within its approved budget. A cost management plan establishes how project costs will be planned, structured, estimated, budgeted, and controlled. Cost estimates are developed by analyzing the resources needed to complete project activities using techniques like analogous estimating, parametric estimating, bottom-up estimating, and three-point estimating. Estimates are based on the project scope, schedule, risks, and other factors and are expressed in currency or other measurable units.
Modelling Search Interaction with Economic ModelsLeif Azzopardi
This document presents an economic model of search behavior that builds on previous models. The new model includes additional costs like viewing pages and snippets. It models the relationship between the number of queries, number of assessments per query, gain from searching, and costs. The model predicts that querying will increase with gain and decrease with assessment probability and costs. An analysis of search log data found the model's hypotheses generally held, providing a useful framework for understanding interactive information behavior.
This document is a seminar report submitted by a student named Shahbaz Khan to Visvesvaraya Technological University in partial fulfillment of a bachelor's degree in electronics and communication engineering. The report describes a project to predict house prices in Mumbai using machine learning models. It explores a dataset of Mumbai house listings, applies techniques like data visualization, transformation and several regression models to predict prices. It finds that linear regression has the best performance and can be used to build a house price prediction application.
Project selection and estimating technique spencer o’briencpmgt303MARK547399
This document discusses project cost estimation techniques. It describes top-down and bottom-up estimating, with top-down used early in planning to estimate overall costs and bottom-up used later with more detailed tasks. Estimating methods covered include analogous, parametric, and three-point estimating. Types of costs are direct, like labor, and indirect, like overhead. The document provides guidance on selecting accurate and appropriate estimation methods tailored to project needs.
Acumen Fuse is a project analytics and visualization tool that analyzes metrics like cost, schedule, quality, risk, and earned value. It uses "ribbons" to group and simplify project data. The tool provides over 100 customizable metrics and scorecards to improve project planning, execution, and performance monitoring. It also supports compliance with standards like the DCMA 14 Point Assessment. Acumen Fuse integrates data from sources like Microsoft Project, Primavera, and Excel. Case studies demonstrate how it has been used to evaluate bids, develop baselines, track project performance, and analyze portfolios.
The document provides information on cost management for a project management study group session. It includes questions and answers on topics like estimating activity costs, cost baselines, variance analysis, and earned value management.
Dear students, get latest Solved NMIMS assignments and case study help by professionals.
Mail us at : help.mbaassignments@gmail.com
Call us at : 08263069601
The document summarizes Session 3 of a CAPM exam study which includes:
- Questions from previous asynchronous content
- Mapping knowledge areas and processes
- Homework concepts to study including work packages, scope management, network diagrams, and analysis techniques
- Sample exam questions and answers mapping to knowledge areas
The session covers agenda items for CAPM exam preparation including reviewing homework, knowledge areas, exam question practice, and Q&A. Sample exam questions and answers are provided to illustrate key concepts.
Cost-Estimation-Techniques unit 2.pptxSudipBalLama
The document discusses various cost estimation techniques that can be used for engineering economic analyses and capital investments. It describes top-down and bottom-up approaches, with top-down using historical data and bottom-up breaking projects into smaller work elements. An integrated approach uses a work breakdown structure, cost/revenue structure, and estimating models. Specific techniques discussed include indexes, unit costs, factors, parametric models, and learning curves. Cost estimation is important for setting prices, determining profits, and justifying investments.
The document provides a sample question and answer from the CAPM exam. The question asks which statement about duration estimates is true. The correct answer is that duration estimates may be progressively elaborated. The explanation provided further discusses that duration estimates are iteratively developed and refined as more accurate information becomes available during the project planning processes. Planning processes are interdependent and estimates are less accurate and reliable at the beginning of project planning with limited information.
The document is a sample question and answer from the CAPM exam. The question asks which statement about duration estimates is true. The correct answer is A, that duration estimates may be progressively elaborated. The explanation states that duration estimates are made with limited information initially in project planning and should be iteratively developed as more accurate information becomes available over time. Planning processes are interdependent and estimates are inputs and outputs between the processes.
Estimating for projects and programmes is a core project management competence. Estimating uncertainty is generally the largest single risk to project delivery. Here, estimating best practice is described along with a few hints and tips.
WHAT IS COST ESTIMATION IN PROJECT MANAGEMENT AND THEIR TYPES?MirzaNuman1
There are different types of Cost estimation in project management. But, Here we have mentioned 4 types of cost estimation in project management that are most commonly used by cost estimators for construction.
This document provides an overview of operations management forecasting models and their applications. It defines forecasting and lists its common uses. The key components of a forecast and the forecasting process are described. Both qualitative and quantitative forecasting approaches are discussed, along with their advantages and disadvantages. Specific forecasting techniques covered include time series methods, regression methods, moving averages, exponential smoothing, and naive forecasts. Examples are provided to illustrate weighted moving averages and exponential smoothing.
This document provides an overview of structural equation modeling (SEM) techniques. It discusses key SEM concepts like latent constructs, measurement models, structural models, and model estimation. The document also covers advanced SEM topics such as comparing covariance-based and variance-based approaches, handling formative versus reflective measures, and analyzing moderators and mediators. Overall, the document serves as a guide for researchers to understand and apply quantitative data analysis methods using SEM.
Web Engineering - Web Effort EstimationNosheen Qamar
The document discusses various techniques for estimating effort in web development projects, including expert opinion, algorithmic models, and artificial intelligence. It describes expert opinion as a subjective approach based on previous experience, while algorithmic models attempt to formalize relationships between effort and factors like project size through equations. The document also explains case-based reasoning and regression trees as popular artificial intelligence techniques, with case-based reasoning estimating effort by comparing new projects to similar past projects.
The document provides 117 questions from a PMP question bank divided into multiple sets. It tests knowledge on various project management topics like scope management, time management, cost management, quality management etc. Specifically, it covers concepts like work breakdown structure (WBS), scope planning, scope definition, scope verification, change control, cost estimating techniques like analogous estimating, definitions of estimates like definitive estimate, benefits of having a project charter, opportunity costs etc. The questions have multiple choice answers provided at the end.
Project cost management includes planning, estimating, budgeting, and controlling costs to complete a project within its approved budget. A cost management plan establishes how project costs will be planned, structured, estimated, budgeted, and controlled. Cost estimates are developed by analyzing the resources needed to complete project activities using techniques like analogous estimating, parametric estimating, bottom-up estimating, and three-point estimating. Estimates are based on the project scope, schedule, risks, and other factors and are expressed in currency or other measurable units.
Modelling Search Interaction with Economic ModelsLeif Azzopardi
This document presents an economic model of search behavior that builds on previous models. The new model includes additional costs like viewing pages and snippets. It models the relationship between the number of queries, number of assessments per query, gain from searching, and costs. The model predicts that querying will increase with gain and decrease with assessment probability and costs. An analysis of search log data found the model's hypotheses generally held, providing a useful framework for understanding interactive information behavior.
This document is a seminar report submitted by a student named Shahbaz Khan to Visvesvaraya Technological University in partial fulfillment of a bachelor's degree in electronics and communication engineering. The report describes a project to predict house prices in Mumbai using machine learning models. It explores a dataset of Mumbai house listings, applies techniques like data visualization, transformation and several regression models to predict prices. It finds that linear regression has the best performance and can be used to build a house price prediction application.
Project selection and estimating technique spencer o’briencpmgt303MARK547399
This document discusses project cost estimation techniques. It describes top-down and bottom-up estimating, with top-down used early in planning to estimate overall costs and bottom-up used later with more detailed tasks. Estimating methods covered include analogous, parametric, and three-point estimating. Types of costs are direct, like labor, and indirect, like overhead. The document provides guidance on selecting accurate and appropriate estimation methods tailored to project needs.
Acumen Fuse is a project analytics and visualization tool that analyzes metrics like cost, schedule, quality, risk, and earned value. It uses "ribbons" to group and simplify project data. The tool provides over 100 customizable metrics and scorecards to improve project planning, execution, and performance monitoring. It also supports compliance with standards like the DCMA 14 Point Assessment. Acumen Fuse integrates data from sources like Microsoft Project, Primavera, and Excel. Case studies demonstrate how it has been used to evaluate bids, develop baselines, track project performance, and analyze portfolios.
The document provides information on cost management for a project management study group session. It includes questions and answers on topics like estimating activity costs, cost baselines, variance analysis, and earned value management.
Dear students, get latest Solved NMIMS assignments and case study help by professionals.
Mail us at : help.mbaassignments@gmail.com
Call us at : 08263069601
The document summarizes Session 3 of a CAPM exam study which includes:
- Questions from previous asynchronous content
- Mapping knowledge areas and processes
- Homework concepts to study including work packages, scope management, network diagrams, and analysis techniques
- Sample exam questions and answers mapping to knowledge areas
The session covers agenda items for CAPM exam preparation including reviewing homework, knowledge areas, exam question practice, and Q&A. Sample exam questions and answers are provided to illustrate key concepts.
Cost-Estimation-Techniques unit 2.pptxSudipBalLama
The document discusses various cost estimation techniques that can be used for engineering economic analyses and capital investments. It describes top-down and bottom-up approaches, with top-down using historical data and bottom-up breaking projects into smaller work elements. An integrated approach uses a work breakdown structure, cost/revenue structure, and estimating models. Specific techniques discussed include indexes, unit costs, factors, parametric models, and learning curves. Cost estimation is important for setting prices, determining profits, and justifying investments.
The document provides a sample question and answer from the CAPM exam. The question asks which statement about duration estimates is true. The correct answer is that duration estimates may be progressively elaborated. The explanation provided further discusses that duration estimates are iteratively developed and refined as more accurate information becomes available during the project planning processes. Planning processes are interdependent and estimates are less accurate and reliable at the beginning of project planning with limited information.
The document is a sample question and answer from the CAPM exam. The question asks which statement about duration estimates is true. The correct answer is A, that duration estimates may be progressively elaborated. The explanation states that duration estimates are made with limited information initially in project planning and should be iteratively developed as more accurate information becomes available over time. Planning processes are interdependent and estimates are inputs and outputs between the processes.
Estimating for projects and programmes is a core project management competence. Estimating uncertainty is generally the largest single risk to project delivery. Here, estimating best practice is described along with a few hints and tips.
WHAT IS COST ESTIMATION IN PROJECT MANAGEMENT AND THEIR TYPES?MirzaNuman1
There are different types of Cost estimation in project management. But, Here we have mentioned 4 types of cost estimation in project management that are most commonly used by cost estimators for construction.
This document provides an overview of operations management forecasting models and their applications. It defines forecasting and lists its common uses. The key components of a forecast and the forecasting process are described. Both qualitative and quantitative forecasting approaches are discussed, along with their advantages and disadvantages. Specific forecasting techniques covered include time series methods, regression methods, moving averages, exponential smoothing, and naive forecasts. Examples are provided to illustrate weighted moving averages and exponential smoothing.
This document provides an overview of structural equation modeling (SEM) techniques. It discusses key SEM concepts like latent constructs, measurement models, structural models, and model estimation. The document also covers advanced SEM topics such as comparing covariance-based and variance-based approaches, handling formative versus reflective measures, and analyzing moderators and mediators. Overall, the document serves as a guide for researchers to understand and apply quantitative data analysis methods using SEM.
Here is our free CAPM exam sample question from the PM Exam Simulator.
*Stop by at free.pm-exam-simulator.com/ and try the PM Exam Simulator free for 7 days.
Here is our free PMP exam sample question from the PM Exam Simulator.
*Stop by at free.pm-exam-simulator.com/ and try the PM Exam Simulator free for 7 days.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
Leveraging Generative AI to Drive Nonprofit InnovationTechSoup
In this webinar, participants learned how to utilize Generative AI to streamline operations and elevate member engagement. Amazon Web Service experts provided a customer specific use cases and dived into low/no-code tools that are quick and easy to deploy through Amazon Web Service (AWS.)
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
Gender and Mental Health - Counselling and Family Therapy Applications and In...PsychoTech Services
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
Communicating effectively and consistently with students can help them feel at ease during their learning experience and provide the instructor with a communication trail to track the course's progress. This workshop will take you through constructing an engaging course container to facilitate effective communication.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
2. The difference between analogous and parametric estimating is:
A. Analogous estimating uses historical information while parametric estimating is based
on expert judgment.
B. Analogous estimating uses historical information while parametric estimating is based
on three-point estimating.
C. Analogous estimating uses three estimates to define an activity's cost while parametric
estimating uses historical information.
D. Analogous estimating is generally less accurate than parametric estimating.
HINT: Parametric estimating is analogous estimating with considering other variables that
reflect the difference between the project and previous ones.
QUESTION:
3. The correct answer is D.
Analogous and parametric are two popular cost estimation methods that are mainly based
on historical data from previous projects.
While analogous estimating uses the values such as cost, budget, and scope from previous
projects as a basis for estimating the same parameters of a current project, parametric
estimating often combines such information with other variables or other project
parameters to calculate the values.
Thus, parametric estimating provides a more accurate result, compared with the
analogous method.
ANSWER:
4. All our questions are updated to the latest A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) standard.
Stop by at free.pm-exam-simulator.com/ and try the PM Exam Simulator free for 7 days.