Does the complexity of the project dictate the estimating method?
Does the complexity of the project dictate the estimating method?
Homework Answers
No, I don't think the complexity of a project cannot estimate the budget. The project is getting more and more complexed due to the development of technology, existing system, and knowledge. When there is complexity in a project, it gives a faulty and unclear understanding of the estimation of the budget. In projects, the cost overruns are very common nowadays as there are lots of uncertainties present in the project. There are many methods or techniques which can be used to estimate the costs of a project but the complexity of the project doesn't contribute to any of these.
Hope this helps :)
If you liked the answer then please give an Up-vote, this will be quite encouraging for me, thank you!
What is the difference between External Complexity and Internal complexity risk profiles in a project -...
What is the difference between External Complexity and Internal complexity risk profiles in a project - discuss with examples
The text argues that the calendar should not dictate project reporting frequency. Do you agree? Why?...
The text argues that the calendar should not dictate project reporting frequency. Do you agree? Why? If not, what else should dictate project reporting frequency? Discuss the concept of earned value. Explain how the earned value chart captures all three objectives of a project: performance, cost, and schedule. Discuss how the total cost of a partially completed project can be estimated by using earned value analysis. Logically, when using earned value data in the critical ratio formula, should the “budgeted”...
Estimating methods review questions chapter 2 CONSIRU ESTIMATING Estimating Methods Review Questions Estimating 1. The estimating...
Estimating methods review questions chapter 2
CONSIRU ESTIMATING Estimating Methods Review Questions Estimating 1. The estimating method is an estimating method in which quantities are calculated and entered into ledger sheets for pricing - is the color coding or marking off of items during the quantity takeoff process 3. A(m)sheet consists of rows and columns on a sheet of paper into ons, locations, code numbers, quantities, and costs are manually entered into them. 4. A(m) is a computer program that...
Question 3: Using the "complexity weighting" scheme in Table 1 and the function point complexity weighted...
Question 3: Using the "complexity weighting" scheme in Table 1 and the function point complexity weighted Table 2 shown below, estimate the total function point count. Assume historical data suggest five function points equal one person month and six people can work on the project. Table 1: Simplified Basic Function Point Count Process for a Prospective Project or Deliverable Complexity Welghting Element Low Average High Total Number of inputs Number of outputs Number of inquiries Number of files Number of...
Explain the main differences between estimating the NPVs for a foreign project and pure a domestic...
Explain the main differences between estimating the NPVs for a foreign project and pure a domestic project.
Explain the main differences between estimating the NPVs for a foreign project and pure a domestic...
Explain the main differences between estimating the NPVs for a foreign project and pure a domestic project.
i) (TRUE / FALSE) Money spent for estimating the alternatives and gathering estimates for a project...
i) (TRUE / FALSE) Money spent for estimating the alternatives and gathering estimates for a project is always sunk cost İİ) ( TRUE / FALSE ) A shorter payback period can be interpreted as: the risk is lower than one with longer payback period. iii) (TRUE/ FALSE) Payback period is a popular measure of a project's worthiness, but does not produce accurate information.
The Security Rule does not dictate a specific risk assessment methodology; however, the Department of Health...
The Security Rule does not dictate a specific risk assessment methodology; however, the Department of Health and Human Services implementation and training guidance references which of the following methodologies? ISO 27002:2013 OCTAVE NIST 800-30: Risk Management Guide for Information Technology Systems FAIR
What is cost of complexity? How does it affects the manufacturing company?
What is cost of complexity? How does it affects the manufacturing company?
Styles Editing Dictate Clipboard 3 ADA A A A Font I . 1. . 2. ....
Styles Editing Dictate Clipboard 3 ADA A A A Font I . 1. . 2. . AL Paragraph . .4.. Styles Voice 3 5 516 15) Weakness of the high-low method include all of the following EXCEPT: a) only two observations are used to develop the cost function. b) the high and low activity levels may not be representative. c) the method does not detect if the cost behavior is nonlinear. d) the method is relatively complex and difficult to...
Estimating methods review questions chapter 2
CONSIRU ESTIMATING Estimating Methods Review Questions Estimating 1. The estimating method is an estimating method in which quantities are calculated and entered into ledger sheets for pricing - is the color coding or marking off of items during the quantity takeoff process 3. A(m)sheet consists of rows and columns on a sheet of paper into ons, locations, code numbers, quantities, and costs are manually entered into them. 4. A(m) is a computer program that...
Question 3: Using the "complexity weighting" scheme in Table 1 and the function point complexity weighted Table 2 shown below, estimate the total function point count. Assume historical data suggest five function points equal one person month and six people can work on the project. Table 1: Simplified Basic Function Point Count Process for a Prospective Project or Deliverable Complexity Welghting Element Low Average High Total Number of inputs Number of outputs Number of inquiries Number of files Number of...
i) (TRUE / FALSE) Money spent for estimating the alternatives and gathering estimates for a project is always sunk cost İİ) ( TRUE / FALSE ) A shorter payback period can be interpreted as: the risk is lower than one with longer payback period. iii) (TRUE/ FALSE) Payback period is a popular measure of a project's worthiness, but does not produce accurate information.
Styles Editing Dictate Clipboard 3 ADA A A A Font I . 1. . 2. . AL Paragraph . .4.. Styles Voice 3 5 516 15) Weakness of the high-low method include all of the following EXCEPT: a) only two observations are used to develop the cost function. b) the high and low activity levels may not be representative. c) the method does not detect if the cost behavior is nonlinear. d) the method is relatively complex and difficult to...
Most questions answered within 3 hours.
-
4. Suppose that a firm has two plants with the following cost
functions:
MC1 = 5+2q1...
asked 1 second from now -
I am currently taking a Foundation of Programming course where
we are being taught Java. We...
asked 19 minutes ago -
Suppose a car is traveling at +22.2 m/s, and the driver sees a
traffic light turn...
asked 9 minutes ago -
1) Write a method that will return the length of smallest string
in an array of...
asked 16 minutes ago -
Select one of the following WSJ articles and apply the type
concepts from producers and users...
asked 35 minutes ago -
Make sure you are able to describe the 3 primary goals of
seating interventions.
asked 39 minutes ago -
How does microfiltration work in industrial milk processing? is
it through pump or is it through...
asked 39 minutes ago -
A spy satellite is in circular orbit around Earth. It makes one
revolution in 7.20 h....
asked 40 minutes ago -
When sending an email from one RMU email account to another RMU
email account, the email...
asked 41 minutes ago -
When 10.0 mg of sucrose is dissolved in enough water to make
100.0 mL of solution...
asked 59 minutes ago -
I have volunteered at a butterfly garden and I am supposed to
write a journal reflection...
asked 1 hour ago -
10 Distributions of GNU Linux
10 Distributions
5 different operating Systems
What is the exact function...
asked 1 hour ago