– 100% (GOOD RATED) Analogous Estimating/Parametric Model Estimating

Provide answers to all of the questions below:
1. Explain each of the following estimating techniques, and how each can be used to determine task duration and resource effort within a project.
a. Analogous Estimating
b. Parametric Model Estimating
c. 3 Point Estimating
d. Expert Judgment Estimating
e. Vendor Bid Analysis
f. Reserve Analysis
g. Bottom Up Analysis
2. Critical path method:
a. Describe what the critical path of a project is.
b. Explain the steps used to identify it using the Critical Path Method.
3. Explain the concept of a project baseline.
4. Explain the procedure for establishing project baselines.
5. Explain how to manage adjustments to a project baseline due to a major change to scope or cost.
6. Explain how project variance is most effectively managed.
7. Summarise the project life cycle phases and describe each phase.
8. Summarise the following key tools for project scheduling.
a. Schedule Network Analysis
b. Critical Path Analysis
c. Schedule Compression
9. Explain three (3) best-practice time management methodologies. For each, summarise their capabilities, limitations, applications, and outcomes.
10. Explain how a work breakdown structure is used to create project schedules.
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