What is the underlying theory to the three time estimates approach? What data distribution should be applied in this case and what confidence should a project manager place in the calculations associated with this technique?
What will be an ideal response?
Probability suggests that the amount of time that an activity is likely to take is rarely deterministic; rather it is stochastic and found as the result of sampling a range of likelihoods of the event occurring. These likelihoods range from zero to one. In order to derive a reasonable estimate for the activity's duration, we identify the activity's most likely, pessimistic, and optimistic durations. From these time estimates we can use a symmetrical or asymmetrical probability distribution to develop a mean and standard deviation for each activity. A normal distribution might be used if the optimistic and pessimistic estimates are symmetrical to the mean and a beta distribution can be employed if the estimates are asymmetrical. The goal is to achieve a high level of confidence for the probability estimates; the higher the better in order to achieve a better estimate for the project duration.
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When you're preparing a formal work plan, include a ________ to clarify the problem you face and a ________ to describe what you plan to accomplish
A) statistical analysis; hypothesis B) problem statement; purpose statement C) yardstick; problem statement D) descriptive standard; goal analysis E) hypothesis; work plan
(Me and him, He and I) plan to take a trip to Alaska
What will be an ideal response?
In groupthink, certain members take it upon themselves to protect the leader from dissenting opinions. This symptom is called ______.
A. illusion of unanimity B. self-censorship C. self-appointed mindguards D. collective rationalization
Carson, who is an agent for Peter, breaches his fiduciary duty to Peter. Carson:
a. is liable to Peter for breach of contract. b. is liable to Peter in tort for any losses caused by the breach. c. must make restitution for any profits or property received in breach of this duty. d. All of these are correct.