An Advantage of the Elemental Standard Data Approach Is That

question 108

Multiple Choice

An advantage of the elemental standard data approach is that there is:

• A)a reduction in the number of time studies needed.
• B)no need to estimate allowances.
• C)no need to use time study methods.
• D)no need to estimate the variable characteristics of jobs.

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Definitions:

Expected Completion

An estimated time or date by which a project, task, or operation is predicted to be finished, taking into account various factors affecting its progress.

Duration Variance

A measure used in project management to quantify the difference between the planned and actual duration of project activities.

PERT Analysis

Project Evaluation and Review Technique, a statistical tool used in project management designed to analyze and represent the tasks involved in completing a given project, incorporating time estimates for completing each task.

Critical Path

The most extended line of activities within a project's plan that requires punctual completion for the project to finalize on its expected completion date.