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:

Percent

A mathematical term that represents a number as a fraction of 100.

Cent

A unit of currency used in several nations, equivalent to 1/100th of a dollar, euro, or similar decimal-based currency.

Significant Figures

The digits of a number that are meaningful in terms of accuracy or precision, important in scientific and mathematical calculations.

Percent

A part or other object per hundred, used in mathematics to describe how one quantity relates to another in terms of proportion or fraction.