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Andy is the project manager of the NHGQ project for his organization. He has elected to use a three-point estimate for his project. His project team, however, is complaining about participating in this estimate type because of the time it takes to predict the duration of activities. Andy, as the project manager, tells the project team that they must create the time estimate, as it will help this project and future similar projects. What is a three-point estimate?
Correct Answer: B
Explanation/Reference: Explanation: A three-point estimate requires that each activity be estimated for its optimistic, most likely, and pessimistic duration. Once the three estimates have been created, an average of the duration estimates is found and this is the recorded duration for the project work. Incorrect Answers: A: This is not a complete explanation of a three-point estimate. C: This is a definition of PERT, a similar time estimating technique. D: This is definition of PERT, but this answer uses the term GERT so it is not a valid choice.