CAPM Exam Dumps | Which of the following tools or techniques is used for Estimate Activity Durations?

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Question 107/171

Which of the following tools or techniques is used for Estimate Activity Durations?

A. Critical path method

B. Rolling wave planning

C. Precedence diagramming method

D. Parametric estimating

Correct Answer: D

Explanation/Reference:
Explanation:
7.2.2.3 Parametric Estimating
Parametric estimating uses a statistical relationship between relevant historical data and other variables (e.g., square footage in construction) to calculate a cost estimate for project work. This technique can produce higher levels of accuracy depending upon the sophistication and underlying data built into the model. Parametric cost estimates can be applied to a total project or to segments of a project, in conjunction with other estimating methods.
Process: 6.5 Estimate Activity Durations
Definition: The process of estimating the number of work periods needed to complete individual activities with estimated resources.
Key Benefit: The key benefit of this process is that it provides the amount of time each activity will take to complete, which is a major input into the Develop Schedule process.
Inputs
1. Schedule management plan
2. Activity list
3. Activity attributes
4. Activity resource requirements
5. Resource calendars
6. Project scope statement
7. Risk register
8. Resource breakdown structure
9. Enterprise environmental factors
10.Organizational process assets
Tools & Techniques
1. Expert judgment
2. Analogous estimating
3. Parametric estimating
4. Three-point estimating
5. Group decision-making techniques
6. Reserve analysis
Outputs
1. Activity duration estimates
2. Project documents updates

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