CompTIA Project+ (PK0-005)Project Life Cycle PhasesHard
A project manager is developing the project schedule and needs to estimate the duration of a new, highly uncertain research activity. Due to the high uncertainty, a single point estimate is unreliable. The project manager decides to use three estimates: an optimistic (O), a pessimistic (P), and a most likely (M) estimate. Which estimation technique is being applied?
- AThree-Point Estimating (PERT)
- BBottom-Up Estimating
- CAnalogous Estimating
- DParametric Estimating
Show answer & explanationAnswer & explanation
Correct answer: A. Three-Point Estimating (PERT)
Three-Point Estimating, often associated with PERT, uses optimistic, pessimistic, and most likely estimates to calculate a weighted average duration, providing a more reliable estimate for uncertain activities.
Why the other options are wrong
- B. Bottom-Up Estimating involves estimating the cost or duration of individual work packages or activities with the greatest level of detail.
- C. Analogous Estimating uses data from previous, similar projects to estimate cost or duration.
- D. Parametric Estimating uses a statistical relationship between historical data and other variables to calculate an estimate.
Three-Point Estimating (PERT)
An estimation technique that uses optimistic (O), pessimistic (P), and most likely (M) estimates to calculate a weighted average duration or cost.
- PERT formula: (O + 4M + P) / 6.
- Provides a range of possible outcomes.
- Useful for activities with high uncertainty.
Memory trick: Analogous is past, Parametric is math, Bottom-Up is small, Three-Point is uncertain.