Define the following terms: best-case estimate, probable-case estimate, and worst-case estimate, and describe how project managers use

Question:

Define the following terms: best-case estimate, probable-case estimate, and worst-case estimate, and describe how project managers use these concepts.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Systems Analysis and Design

ISBN: 978-1133274636

9th Edition

Authors: Shelly Cashman, Gary B. Shelly and Harry J. Rosenblatt

See More Books

Question Posted: Nov 03, 2012 09:21 AM

See More Questions

Define the following terms and explain how they are related: performance, efficiency, effectiveness, process, output, input.
Define the following terms related to reciprocating engines: stroke, bore, top dead center, and clearance volume.
Define the following terms related to bonds payable. Debenture bonds..... Face value of the bonds Secured bonds...... Face rate of interest Convertible bonds...... Issue price Callable bonds
Which of the following is a batch-level activity of Clear Water Bay Inc, a car manufacturer? 1. Its CEO attends auto shows to demonstrate the latest model of cars. 2. Its engineers remediate a design...
Fidelity Bancorp Inc. is evaluating two capital investment proposals for a drive-up ATM kiosk, each requiring an investment of $280,000 and each with an eight-year life and expected total net cash...
To implement a procedure designed to eliminate sexual harassment and minimize the risk of penalties resulting from charges of unlawful harassment.
for human staff only,
The Firestone Group, Ltd. (Firestone), a company engaged in real estate development, entered into a contract to sell nursing homes it owned to a buyer. The buyer paid a $ 30,000 deposit to Firestone...
Required information (The following information applies to the questions displayed below) Tory Enterprises pays $244,400 for equipment that will last five years and have a $44,200 salvage value. By...
Allie has bought a new apple orchard. The orchard has a single file of trees, numbered from 1 to N. Each tree has a certail number of ripe apples. Allie has a rule she wants to follow. She wants to...
Compare the advantages and disadvantages of Gantt and PERT/CPM charts.
How does a project manager calculate start and finish times?
What is an isentropic process? Determine an expansion for the work done in a non-flow isentropic process.
Gil and Ruth George have been friends of yours for many years. They have come to you for advice on their estate plan since they want a second opinion to make sure it is going to do what they hope....
The test statistic of z = 1.74 is obtained when testing the claim that p # 0.658. Identify the hypothesis test as being two-tailed, left-tailed, or right-tailed. Find the P-value. Using a...
Ann and Bob had their first date. Each either felt romantic chemistry (C) or no chemistry (NC) with the other person. Each person knows his/her own feeling but does not know the feeling of the other...
Find the following using countif, countifs, sumif, sumifs, averageif, and averageifs. Create all formulas and calculations directing in Excel. How many songs are sung by Moore? What is the average...
Total number of Ledgers, Groups, Entries etc. can be shown from o a. Tally Audit o b. Statistics o c. Accounts Information o d. Company Information
Describe the various roles played by foreign - owned subsidiaries. What determines which role they will play?
A sample statistic will not change from sample to sample. Determine whether the statement is true or false. If it is false, rewrite it as a true statement.
The American Academy of Pediatrics wants to conduct a survey of recently graduated family practitioners to assess why they did not choose pediatrics for their specialization. Provide a definition of...
Explore four or five voice-over IP (VoIP) providers. Make a list of costs including the setup fee, monthly cost of the basic plan, monthly cost of the unlimited plan, and cost of an adapter or other...
With your group members, explore project management software such as Microsoft Project. What features are available? Work with your group to list them. Have your group evaluate the usefulness of the...
With your group members, explore project management software such as Microsoft Project. What features are available? Work with your group to list them. Have your group evaluate the usefulness of the...
Only need help on 4B and 5. Exercise 9-21 Breakeven Planning; Profit Planning (LO 9-2, 9-3] Connelly Inc., a manufacturer of quality electric ice cream makers, has experienced a steady growth in...
A project with an initial cost of $32,000 is expected to provide cash flows of $12,900, $13,100, $16,200, and $10,700 over the next four years, respectively. If the required return is 8.1 percent,...
A company that is expecting to receive EUR 500,000 in 60 days is considering entering into an FX futures contract to lock an exchange rate to USD for the transaction. The FX rate on the contract is...

Define the following terms: best-case estimate, probable-case estimate, and worst-case estimate, and describe how project managers use

Question:

Step by Step Answer:

PERTCPM techniques use a weighted formula for estimating the duration of each activity The project ...View the full answer

Systems Analysis and Design

Students also viewed these Managerial Accounting questions