A Way to Improve Estimates on Future Projects Is to Collect

question 25

Multiple Choice

A way to improve estimates on future projects is to collect and archive data on past project estimates and actuals. Creating ___________ for estimating is a way to achieve this goal.

• A) time and cost databases
• B) history databases
• C) estimating and forecasting databases
• D) structured databases
• E) Any of these alternatives are correct.

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Definitions:

Special Equipment

Custom or unique machinery or tools developed or acquired for specialized production or operational processes.

Fixed Manufacturing Overhead

The portion of manufacturing overhead costs that do not change with the level of production, such as salaries of supervisory staff and depreciation of factory equipment.

Disk Drives

Disk drives are data storage devices used for storing and retrieving digital information using one or more rigid rapidly rotating disks (platters) coated with magnetic material.

Financial Advantage

The benefit gained by making a decision or taking an action which results in a better financial position.