Range estimating process development

Range estimating process development

Week 3 Quiz 1

Range estimating process development

Grade Details – All Questions

1.           Question :           (TCO B) Three-point estimate:

The SuperFlyer Corporation is developing a revolutionary flying disc. The new toy can fly straight over a great distance, which is exciting by itself. However, this disc will also return to the owner in response to their voice! Because this is an advance over anything that this company has done before, estimating the amount and cost of the hi-tech materials are difficult. The project manager recommends using a range estimating process to develop an estimate. The values below are submitted by the project team.

2.           Question :           (TCO A)  Your manager has asked you as a project manager, “How does the Bottom-Up budgeting process work? I hear the terms bottom up and top down.”

3.          Question :           (TCO B) You have been requested to provide a contingency estimate for a project involving the manufacturing of a new television. You are provided with the following component and labor estimates, together with the type of estimate:

(a) What cost budget do you recommend for the product?

(b) Will the project be approved?

(c) What would you recommend to reduce or eliminate any contingency from the budget?

4.           Question :           (TCO A) Our company has a limited time to complete our project to develop a new product. We have been assigned as the project manager and are in the process of developing a project plan. The executives are impatient with us and are “encouraging” us to move on and get started on the “actual work.” Why are we taking so much time to develop the project plan, and how does that fit with monitoring and control? For full credit you must provide specific reasons and justifications, not just generalities.

5.           Question :           (TCO A) An environmental consulting firm has been hired to clean up contaminated groundwater beneath the site of a former chemical factory. The clean-up design process consists of evaluating several alternatives, preparing a conceptual design for the most appropriate alternative, evaluating the conceptual design by performing a small scale pilot test on site, and, based on the results of the pilot test, preparing a final design.