Exam 5: Estimating Project Times and Costs

If a project is internal to the company and relatively small, the bottom-up approach to estimating time and costs for the project is the best choice.

The prevailing belief in some firms that detailed estimating takes too much time and is not worth the effort or that it is impossible to predict the future is an example of the ________ factor.

People working on prototype development needing time to interact with the design engineers after the design is completed is an example of:

Which of the following is not one of the factors that need to be considered to improve quality of estimates for project times and costs?

The accuracy of top-down estimates will typically be in the range of

______ estimates are most likely to use low cost, efficient methods.

In the ________ method of top-down estimating, a quantitative relationship is established between the estimates and a project parameter.

The estimating factor known as ________ considers the decreasing accuracy of estimates as one forecasts activities that are further into the future.

Design flaws being revealed after the fact, extreme weather conditions, and accidents occurring are examples of:

A typical statement in actual practice is that estimates should have a probability of being met ______ of the time.

The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as:

The accuracy of bottom-up estimates will typically be in the range of

Bottom-up-estimating is another name for overzealous top management estimates.

Which of the following is not one of the recommended guidelines for developing useful work package estimates?

Identify the drawbacks to an excessive level of detail in project times and costs.

The Consensus method of estimating costs is a bottom-up technique.

Probably the most reliable method for estimating time and cost is to use the _______ and to ask the people responsible for the work package to make the estimates.

A manager getting further into a project and obtaining a better understanding of what needs to be done to accomplish a project is an example of:

Sean is forecasting the time and cost of developing a customized software program by looking at the number of inputs, outputs, inquires, files, and interfaces.Which of the following methods is he using?

Given that a project closely follows past projects in features and costs, the ________ method of assigns costs and times to particular phases that a project will go through.