I’m studying for my Management class and don’t understand how to answer this. Can you help me study?
here are couple of responses posted below . Please read both of them and give your opinion on them separately.
Read Response-1 and Response-2 below and give your opinion on both responses separately. your answer should be supported with research unless the question is opinion oriented.. Responses to discussions below should not be “I agree” or “I like the way you stated that.” These responses should again be insightful, offering an opinion or facts based on your research and experiences. The opinion to both responses should be a minimum of 200 words each . See APA criteria for citing resources.
Read the case study “The Estimating Problem” on page 734 and then answer the questions on page 735.
text book attached “
1st Question: How many different estimating techniques were discussed in the case?
Answer: In the given case study, there are two estimating techniques discussed, three point technique and Triangular distribution technique. Both of these estimating techniques are quite different and have an absolutely different completion dates. These are depending on the optimistic times and pessimistic times and the total employee involved in the process. Project manager should consider the factors like completion date for project, complexity of the project and skill set available for project. Based on the factors one of the technique should be chosen.
2nd Question: How does the project manager decide that one estimate is better than other?
Answer: Project manager needs understand the roots of the project, moreover the nature and complexity of project. Also, the client for whom, the project manage is working, what are there expectation from the project. Considering these entire factors project manager makes a decision to picking on the best matching estimating technique.
3rd Question: If you were the project manager, which estimate would you use?
Answer: if I were to decide on the estimate of a project, I would consider all the parameters affecting the completion date and deciding factors of success of a project. After a careful consideration and counting on my resources, I will choose a three point estimation technique. This technique is most popular technique for project estimation dates and widely used. With the kind of resources Barbara got, I have I will work with a three point technique for better results and real time estimation.
Kerzner, H. (2013). Project management: A systems approach to planning, scheduling and controlling. Hoboken, NJ: John Wiley & Sons
1) How many different estimating techniques were discussed in the case?
There are two types of techniques discussed in the case i.e. three-point technique and analogy technique.
– In three-point techniques, estimation of positive and negative risks associated with the task is calculated. When the manager assigns a task to an employee, he/she can evaluate the risks associated with the project through a three-point technique. In this technique, the employee applies optimistic estimate, pessimistic estimate and most likely estimate in completing the project work. This technique helps the organizations to increase the accuracy of cost and time estimates in a given project.
– In analogy technique, any given current or tasks is compared to past similar project. It helps in estimating the project parameters such as cost, budget, duration, and scope of the project. This technique proved to provide good results because the lesson learned from the experience of a similar project can help in efficiently completing the new project.
2) How a project manager decides the use of a better estimate if each estimate is different?
There are various factors like cost, size of the project, related risk, availability of resources and available time to complete the task. Apart from deciding on the best suitable technique project manager should analyze all the various aspects of the project. The project manager should consider all the pros and cons related to the project and also different techniques which are available to estimate better. Making a good decision by the manager to estimate is important otherwise it can lead to disruptions in the project. Therefore, using techniques like three-point and analogy, etc along with careful analysis can help the manager to choose better estimate.
3) If you were the project manager, which an estimate would you use?
If I were the project manager, I would use an analogy technique to make estimates. As per the case, some databases are complex as it was in the previous similar project. Considering the complexity and manager’s perspective, the analogy technique is most suitable to this case as she can use her past experiences in implementing better techniques in comparison to three-point technique.
Kerzner, H. (2019). Using the project management maturity model: strategic planning for project management. Wiley.
Techniques Analogous (2019). Estimation Techniques Analogous. [online] www.tutorialspoint.com. Available at: http://www.tutorialspoint.com/estimation_technique… [Accessed 26 Jul. 2019]