If the team is decomposing work into work packages (deliverables), they are creating________.
a WBS
If the team is decomposing work packages into activities required to produce them, which process are they in?
Define Activities
Name some facts about estimating.
Estimating should be based on the WBS to improve accuracy
Identified risk must be considered when when estimating time and cost of project work
Historical information from past projects is key to improve estimates
What is the formula for Expected Activity Duration (Triangular distribution)?
P+M+O/3
What is the formula for Expected Activity Duration (Beta distribution)?
P+4(M)+0/6
What is the formula for Beta Activity Standard Deviation?
P-O/6
Can there be more than one critical path?
Yes
Do you want there to be more than one critical path?
No. It increases risk for the project
Can a critical path changed?
Yes.
Can there be negative float?
Yes. It means you are behind schedule.
How much float does the critical path have?
Zero.
Does the network diagram change when the end date changes?
No.
Would you leave a project with a negative float?
No. You would compress the schedule.
What is Monte Carlo Analysis?
An estimating technique that uses computer software to simulate the outcome of a project based on three-point estimates for each activity and network diagram