In a Project Analysis Using Three Time Estimates with More

question 24

Multiple Choice

In a project analysis using three time estimates with more than one critical path existing, how does the project manager decide which variances to use in arriving at the probability of meeting the project due date?

• A) The project manager averages the variances and uses that.
• B) The project manager uses the smallest variance in order to get the highest probability of on-time completion.
• C) The project manager uses the variances considered most correct.
• D) The project manager uses the largest variances in order to understate the probability of on-time completion.
• E) The project manager uses the most likely estimate plus the amount of slack time in the project.

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Definitions:

External Environment

Factors outside of an organization that can impact its performance, including economic, social, technological, and political conditions.

Forecasting

The process of making predictions of future events or trends based on analysis of past and present data.

Scanning

The act of analyzing the internal and external environments of an organization to identify trends, opportunities, and threats.

Managed Electronically

The process of organizing, controlling, or conducting operations using digital technology and electronic devices.