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Niagara

TORONTO

Canada

estimates?

A$)$ Estimates should be made by thoce responsible for the work.

Use several people to estimate the same work.

C$)$ Estimates should be based on normal conditions

D$)$ Estimates should include a normal level of contingency.

E$)$ Estimates should be independent of other projects.

Companies are using which of the following for improving the estimating proces Af fiture proverb?

A$)$ Adjusting estimates based on individual forecasting abilities

B$)$ Benchmarking and using the experience of other companies

C$)$ Using time and motion studies

D$)$ Creating historical databases of previous projects

E$)$ Establishing an estimating training course for all employees

Reasons why estimating time and cost are important include all of the following EXCEPT

A$)$ to schedule work.

B$)$ to determine how long the project should take and cost.

C$)$ to develop cash flow needs.

D$)$ to determine how well the project is progressing.

E$)$ to help establish a project selection process.

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

A$)$ detailed WBS work package estimates,

B$)$ template method.

C$)$ function point method.

D$)$ time$-$phased cost estimates.

E$)$ phase estimating.

Which of the following top$-$down methods is used when projects closely follow past projects in regard to features and costs of those features, and result in costs being assigned by percentages to major segments of the project?

A$)$ Apportion

B$)$ Function point

C$)$ Phase estimating

D$)$ Learning curve

E$)$ Consensus

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