Project management ch5
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
