Chat with AIExam 6: Project Time and Cost Planning
One drawback of the activity on arrow method is that it can show only ________ relationships between activities.
(36) 
VerifiedA
List at least two advantages and two disadvantages of using the function points method for estimating.
(26) VerifiedThe following are some of the advantages of using the function points method: It is independent of programming language and technology; It can be used early in the project life cycle, at the end of the requirements discovery phase or design phase; A wealth of research exists to support the process; The impact of scope changes is easier to comprehend and track; Organizations can track their own results and improve the function point estimates; It can be used in any development environment.
The following are disadvantages of using the function points method: It requires many subjective evaluations (complexity ratings and environmental factors); Accuracy is greatly increased only after the detailed design phase or after a few project iterations have been performed; It takes some time (training) to perfect and can vary, depending on who is doing the calculations, due to personal bias.
The processes of PMBOK's Time Management knowledge area can happen at the same time.
(31) VerifiedTrue
The last step in the process for project time and cost planning is assigning costs to the schedule.
(34) Which of the following is NOT an analytical technique used in determining project schedule?
(28) If a task has free slack it means that the task can be delayed in starting without affecting any other tasks on the schedule.
(28) Resource ________ defines the amount of time a specific resource is needed over each time period.
(28) The precedence diagram method illustrates two types of dependencies between activities.
(38) Three-point estimating adds the element of ________ into its calculations.
(25) Describe the insights regarding estimating offered by Brooks's classic book The Mythical Man-Month (1975).
(27) In CPM, ES, EF, LS, and LF are calculated in two passes through the entire network diagram.
(32) A professional ________'s primary job is to aid the project team in accurately defining time and cost estimates.
(27) The techniques used in activity resource estimating are expert judgment, the analogous approach, and alternatives analysis.
(32) ________ is defined as the actual amount of time, usually in hours, that a particular resource requires to complete a given task.
(27) Project constraints-such as resource availability, geography restrictions, holidays, and an organization-imposed timetable- often determine the sequence of events.
(34) Time and cost estimates should be done in a(n) ________ process, meaning they start out general and less accurate and over time become more detailed and accurate as the project proceeds.
(26) The budget determination process presents to the stakeholders and project team the entire picture of costs for the project, taking into account all the following cost categories: direct and indirect, recurring and nonrecurring, fixed and variable, and all life cycle costs.
(36) The final deliverable from the activity sequencing process is the ________ activity schedule.
(38) 
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