Project management ch5

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The ___________ must be the basis for a project cost estimate if you plan to create a cost baseline and use earned value management as part of monitoring and controlling costs.

WBS

The _________ rule is that all work required for a deliverable is included in its sub-deliverables when defining activities.

WBS 100%

Slack or ____ is the amount of time an activity may be delayed without delaying a succeeding activity or the project finish date.

float

A(n) ___________ normally does not have any cost or duration.

milestone

In the context of a network diagram, a ____ is simply the starting and ending point of an activity.

node

A three-point estimate is an estimate that includes a(n) ____, most likely, and pessimistic estimate, such as three weeks, four weeks, and five weeks, respectively.

optimistic

Which number should be shortest when creating a three-point estimate?

optimistic time

If you have only two paths through a project network diagram where path 1 has a length of 20 weeks and path 2 has a length of 30 weeks, what is the estimated duration of the project?

30 weeks

____ estimates, also called top-down estimates, use the actual cost of a previous, similar project as the basis for estimating the cost of the current project.

Analogous

____ estimates involve estimating individual activities and summing them to get a project total.

Bottom-up

____ is a technique for making cost and schedule trade-offs to obtain the greatest amount of schedule compression for the least incremental cost.

Crashing

___________ is a technique for making cost and schedule trade-offs to obtain the greatest amount of schedule compression for the least incremental cost.

Crashing

Cost ____ involves allocating the overall cost estimate to individual tasks over time to establish a baseline for measuring performance.

budgeting

What is the first step in planning a project schedule?

creating a schedule management plan

The ____________ method is a network diagramming technique used to predict total project duration.

critical path


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