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

Question 51 of 85 in Demonstrate an understanding of a project management plan schedule

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A project manager is asked to provide a schedule estimate for a new project. She has 45 minutes before the meeting. She uses durations from a similar project completed last year to quickly estimate this project's duration. This is:

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Correct answer: Analogous estimating, which is fast but less accurate than detailed analysis

Explanation

Using durations from a similar past project quickly is analogous (historical reference) estimating. It is appropriate for fast estimates when time is limited, but is less accurate than parametric or bottom-up approaches. Analogous estimates carry the risk of not accounting for differences between the past and current project.

**Why not A:** Parametric estimating uses a statistical model with measurable parameters (such as cost per square foot or hours per line of code) to calculate estimates. Simply referencing durations from a past project without applying a mathematical model is not parametric estimating.

**Why not B:** Bottom-up estimating involves decomposing work into smaller components and estimating each one individually, then rolling up the totals. This detailed approach takes significant time and effort, which contradicts the scenario where the PM has only 45 minutes.

**Why not C:** Definitive estimating produces highly accurate estimates suitable for formal baselines, typically with a narrow accuracy range. A quick 45-minute estimate based on a single past project reference would not meet the rigor required for a definitive estimate.

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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