Thinking Holistically, Suppose a Never-Before-Done Project Is Being Estimated in Which

question 9

Essay

Thinking holistically, suppose a never-before-done project is being estimated in which there is unstable scope. There is high uncertainty in the duration and cost of each work package. What impact will this have on the project schedule and budget? A bottom-up detailed estimate of total project duration, project schedule, project budget and cost is needed immediately prior to execution of the project. What method will you use, assuming a rough-cut top-down estimate of duration and cost already has been determined (perhaps months, years ago) for the entire project?

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Definitions:

Reasoning

The cognitive process of drawing conclusions from premises or evidence, involving logical thinking and analysis.

Direct Observation

The method of gathering data through the immediate or firsthand witnessing or monitoring of behaviors, actions, or phenomena.

Full Moon

The phase of the moon when it is fully illuminated from Earth's perspective, appearing as a bright, circular disc.

Direct Observation

The method of gathering data through immediate, firsthand experience and observation in a natural or control setting.