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Kpavan Solution

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Computer Science
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Campbellsville University
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THE ESTIMATING PROBLEM
1. How many different estimating techniques were discussed in the case?
Three-Point Technique: The project flow is defined by three assumption sets. The first
set is the optimistic estimate. Under this estimate, the project would be completed in four
weeks. The second set is the most likely estimate. Under this estimate, the project could
be completed in thirteen weeks. The third and final set is the pessimistic estimate, under
which the project could be completed in sixteen weeks.
Analog Estimate: This is one of the most frequent techniques utilized in the project. It
utilizes the prior occurrences of the project and uses that information to execute the
current project.
2. Is each estimate is different, how does a project manager decide that one estimate is
better than another?
In this case, it is not viable for any project manager to settle on the best estimate to use.
Every project has distinct complexity level since each project has various factors
influencing it. Besides, all projects do not pursue matching techniques for estimating
projects. There are various techniques for estimating projects, which may be small, scale,
large or medium scale project. Besides, the factor impacting the projects relies on
resources, size, risk, and cost. In case the project managers does a small error in making
choices or decision, then that will influence his career as well as the company’s
reputation. The project manager ought to pick a good estimating technique such as
analogy and three-point analogy estimation as indicated in this case. Moreover, to meet
the project’s deadline, the project manager ought to come up with an excellent estimate
technique.
3. If you were the project manager, which estimate would you use?
In case I was the project manager, due to the project’s complexity, which comprises of
resources, labor, capital and time, I would use the analogy estimate. This is because it
utilizes the past project’s experience and extrapolates on the present projects, and this is
better where the assets conducting the task are similar to the projects. Besides, it is
advantageous when all conditions are accurate. However, this technique’s disadvantage is
in case the company does not have same projects to contrast with each other

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THE ESTIMATING PROBLEM 1. How many different estimating techniques were discussed in the case? Three-Point Technique: The project flow is defined by three assumption sets. The first set is the optimistic estimate. Under this estimate, the project would be completed in four weeks. The second set is ...
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Really useful study material!

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