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CAPM Practice: Demonstrate an understanding of a project management plan schedule

Question 39 of 85 in Demonstrate an understanding of a project management plan schedule

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A project manager uses parametric estimating for activity durations. This technique:

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Correct answer: Uses statistical relationships between historical data and project parameters to calculate estimates

Explanation

Parametric estimating uses statistical models based on historical data. For example, if it historically takes 2 hours per door to install doors, and you have 30 doors, the estimate is 60 hours. This approach is more accurate than analogous estimating when reliable historical data and a clear relationship between parameters exist.

**Why not A:** Asking subject matter experts to estimate based on experience describes expert judgment, not parametric estimating. Expert judgment relies on individual knowledge and experience, while parametric estimating uses mathematical relationships between data and variables.

**Why not B:** Using the average of similar past project durations describes analogous estimating, not parametric. Analogous estimating uses historical data from comparable projects as a basis, while parametric estimating applies statistical relationships between measured parameters and historical data.

**Why not D:** Adding individual task estimates from the bottom of the WBS upward describes bottom-up estimating. This approach aggregates detailed component estimates to create higher-level estimates, which is fundamentally different from parametric estimating's use of statistical models and unit rates.

Key Concept

This question covers Demonstrate an understanding of a project management plan schedule under Demonstrate an understanding of a project management plan schedule (Predictive, Plan-Based Methodologies).

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