Which of the following are used as a cost estimating technique during the project planning
stage?Each correct answer represents a complete solution. Choose three.
A.
Function point analysis
B.
Program Evaluation Review Technique (PERT)
C.
Expert judgment
D.
Delphi technique
Explanation:
Delphi technique, expert judgment, and function point analysis are used as a cost estimating
technique during the project planning stage. Delphi is a technique to identify potential risk. In this
technique, the responses are gathered via a questionnaire from different experts and their inputs
are organized according to their contents. The collected responses are sent back to these experts
for further input, addition, and comments. The final list of risks in the project is prepared after that.
The participants in this technique are anonymous and therefore it helps prevent a person from
unduly influencing the others in the group. The Delphi technique helps in reaching the consensus
quickly. Expert judgment is a technique based on a set of criteria that has been acquired in a
specific knowledge area or product area. It is obtained when the project manager or project team
requires specialized knowledge that they do not possess. Expert judgment involves people mostfamiliar with the work of creating estimates. Preferably, the project team member who will be doing
the task should complete the estimates. Expert judgment is applied when performing
administrative closure activities, and experts should ensure the project or phase closure is
performed to the appropriate standards.
A function point is a unit of measurement to express the amount of business functionality an
information system provides to a user. Function points are the units of measure used by the
IFPUG Functional Size Measurement Method. The IFPUG FSM Method is an ISO recognized
software metric to size an information system based on the functionality that is perceived by the
user of the information system, independent of the technology used to implement the information
system.
Answer option B is incorrect. A PERT chart is a project management tool used to schedule,
organize, and coordinate tasks within a project. PERT stands for Program Evaluation Review
Technique, a methodology developed by the U.S. Navy in the 1950s to manage the Polaris
submarine missile program. A PERT chart presents a graphic illustration of a project as a network
diagram consisting of numbered nodes (either circles or rectangles) representing events, or
milestones in the project linked by labeled vectors (directional lines) representing tasks in the
project. The direction of the arrows on the lines indicates the sequence of tasks.