Review Questions
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You are asked to prepare an estimate for a project that involves planting new trees in the parking lot. The trees cost $800 each, and the labor to install them is $75 per hour. You are planting 10 new trees, and each tree takes one hour of labor to plant, stake, and water. What is the estimated cost of the labor for this project, and which technique are you using to determine this estimate? Choose two.
- $8,000
- Three-point estimate
- Bottom-up method
- $750
- Analogous method
- Parametric method
- $8,750
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Top-down estimating is another name for which type of estimating technique?
- Parametric estimating
- Analogous estimating
- Three-point estimating
- Expert judgment
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The total time it will take for one person to complete a task from beginning to end without taking into account holidays, time off, or other project work is known as this.
- Duration estimate
- Work effort estimate
- Bottom-up estimate
- Parametric estimate
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A discretionary fund used by the project manager to cover...