One Method of Estimating Project Time Is to Use Industry

question 96

Multiple Choice

One method of estimating project time is to use industry standard factors for each project phase. With this method, if the planning phase typically takes 15% of total project time, and a particular project requires three months for planning, then the remainder of the project will require _____.

• A) 15 months
• B) 20 months
• C) 3.5 months
• D) 4.5 months
• E) 3 months

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Definitions:

Broad Banding

A compensation strategy that consolidates numerous pay grades into fewer wide bands, offering flexibility in job roles and pay.

Labour Costs

The total expenses associated with employing labor, including wages, salaries, benefits, and other related costs.

Point Method

A systematic approach used in job evaluation to quantify the value of a job by assigning points based on various factors like skill, effort, and responsibility.

Factor Overlaps

Situations where different elements or variables in a study or analysis share common characteristics, leading to redundancy or confusion.