+
IT IS OFTEN SUGGESTED THAT PROJECT MANAGERS OBTAIN THREE

IT IS OFTEN SUGGESTED THAT PROJECT MANAGERS OBTAIN THREE

Rating:
Rating
(0)
Author: Christine Farr
Description:

http://theperfecthomework.com/it-is-often-suggested-that-project-managers-obtain-three-time-estimates-for-work-units-that-have-significant-uncertainty-associated-with-their-time-estimates/

Please help me about the  Managing Project Time and Resources
It is often suggested that project managers obtain three time estimates for work units that have significant uncertainty associated with their time estimates. Assume you have collected three time estimates for each activity for a performance monitoring system at an international airport baggage handling system. Your cost estimate worksheet suggests the following:
Project estimate: 50 hours
Project standard deviation: 18 hours
Based on this information and assuming 3 standard deviations from the mean to include approximately 99.75% of the area under the normal distribution curve, calculate:
A. project highest credible hours
B. project lowest credible hours upper confidence limit
C. project lowest credible hours lower confidence limit
D. Explain to the airport executives, your primary sponsors, what these numbers mean.


(more)
See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

26 Sophia partners guarantee credit transfer.

226 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 21 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.

Tutorial