Read the case study “The Estimating Problem” on page 734 and then answer the questions on page 735.JUST GOOGLE TO GET AN IDEA OR REFER TO THE ATTACHMENT BUT PLEASE DONT COPY AND PASTE READ UNDERSTAND AND THEN ANSWER

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1)Two estimating techniques were discussed they are:
3-point estimate and
analogy Estimate
3-Point estimate:
Here in a three-point technique, project flow will be determined by three sets of assumptions. The
estimate of the first and second optimistic group may be a pessimistic estimate and the third
estimate among the other two is undoubtedly an estimate.
Analogy Estimate:
Standard assessment is one of the most used techniques in project activities. The project’s previous
experiences are used and implemented on the current project
2) The project manager must take into account all the specific characteristics of the project to be
assessed and if the project has greater or more complex risks, it may be logical to use historical data
for valuation purposes such as a parametric estimate, which uses historical data but as a
quantitative method still offers higher Accuracy of than analogous appreciation.
3) If I was a project manager I will use Wide band Delphi technology, because as described in the
text, the project is rather complicated, so the direct experience of the staff knowledgeable about the
task will be of great value, but also because I like to involve the team members who are supposed to
work On the project from the beginning. This helps to build commitment through participation and
ensures that estimates are accurate on the assumption that these stakeholders are aware of the
tasks required
I would pick Top-down using an unusual state work breakdown structure and data from past
exercises, you can incorporate measures for each endeavor work thing to choose the general effort
and cost. The best down procedure needs point by point examination, which makes it most proper
for a quick first-go at an approaching dare to overview its common sense.
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
312 words

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