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If a detailed estimate is NOT available to assist in the formulation of activity durations but unit quantities have been identified, what information can be utilized to estimate work package/activity durations?
Suggested Answer: B
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44 comments · newest first
FA
Fabiola
10 months ago
Time impact analysis could work too, but not as reliable as historical rates.
GR
Gracia
10 months ago
I’ve always used the Eichleay formula for similar situations.
LE
Leigha
11 months ago
Definitely agree, B is the way to go!
DI
Dierdre
11 months ago
Wait, the Black-Scholes model? That seems off for estimating durations.
JA
Jacqueline
11 months ago
I think historical production rates are super useful for this.
CH
Chaya
11 months ago
The Black-Scholes model seems out of place for this question. I don't think it relates to estimating work package durations at all.
FE
Felicia
12 months ago
I feel like time impact analysis could be relevant here, but I can't recall the specifics. Did we cover that in class?
MI
Mireya
12 months ago
I'm not entirely sure, but I remember something about the Eichleay formula being used for cost estimates, not really for durations.
FL
Flo
1 year ago
I think we might need to look at historical production rates for estimating durations. That sounds familiar from our practice questions.
AR
Arlene
1 year ago
Black-Scholes model? Really? That's way too advanced for this type of question. I'm going to go with the historical production rates - that seems like the most straightforward and practical approach.
GE
Gearldine
1 year ago
Okay, let's think this through. If we don't have detailed estimates, we'll need to rely on some kind of industry or company-specific data. Historical production rates seem like the best bet here.
DE
Denae
1 year ago
Ugh, I'm not sure about this one. The Eichleay formula and time impact analysis sound a bit too complex for this scenario. Maybe I'll just go with the historical production rates option.
TE
Teresita
1 year ago
Hmm, this is a tricky one. I think I'll go with historical production rates - that seems like the most logical approach if we don't have detailed estimates.
EM
Emily
1 year ago
Historical production rates, easy peasy. Unless the project manager is a time-traveling, stock-trading physicist, in which case I'm completely lost.
AL
Aliza
1 year ago
The Black-Scholes model seems a bit out of place here, I would stick with historical production rates.
NA
Nan
1 year ago
I agree, it's a reliable method when detailed estimates are not available.
KE
Kenia
1 year ago
Historical production rates are definitely useful for estimating work package/activity durations.
JO
Jose
1 year ago
Black-Scholes model? Did they accidentally include a finance question in here? I'm just going to go with the option that makes the most sense - historical production rates.
SV
Svetlana
1 year ago
Definitely, it's a practical approach to estimating work package durations.
RO
Rodney
1 year ago
Yeah, I think that's the best option to use in this situation.
EL
Elliot
1 year ago
I agree, historical production rates seem like the most logical choice.
AL
Almeta
1 year ago
I believe time impact analysis can also be helpful in estimating work package durations.
OD
Odette
1 year ago
The Eichleay formula? What is this, a complex equation contest? I'll take the straightforward approach and go with historical production rates. Keep it simple, you know?
LE
Leslie
1 year ago
The Eichleay formula may be complex, but historical production rates are a practical choice for estimating durations.
RO
Rochell
1 year ago
I agree, using past data can give a good indication of how long tasks will take.
LA
Laurel
1 year ago
Historical production rates are a reliable source for estimating work package durations.
NA
Nathalie
2 years ago
I agree with Barbra, historical production rates provide valuable information.
BR
Brynn
2 years ago
Time impact analysis? Seriously? What is this, a physics exam? I'll stick with the good old reliable historical production rates, thank you very much.
GL
Gladys
1 year ago
User 4: Yeah, I always go with what has worked in the past.
GE
German
1 year ago
User 3: Historical production rates are definitely more reliable.
LO
Louann
1 year ago
User 2: I agree, I prefer using historical production rates.
AU
Audry
1 year ago
User 1: Time impact analysis sounds complicated.
AN
Annalee
1 year ago
Yeah, time impact analysis does sound a bit complicated.
NI
Nichelle
1 year ago
I agree, historical production rates are a safe bet.
PA
Paulene
2 years ago
Historical production rates, for sure. That's the way to go when you don't have a detailed estimate. Worked for me on the last project.
NO
Norah
1 year ago
I always refer to historical production rates when I need to estimate durations without a detailed estimate.
LA
Latonia
1 year ago
It's a reliable method when you don't have a detailed estimate to work with.
UL
Ula
1 year ago
I agree, using past data can give a good indication of how long tasks will take.
AH
Ahmed
1 year ago
Historical production rates are definitely helpful in estimating work package/activity durations.
BE
Bev
1 year ago
It's a practical approach to estimate work package/activity durations.
JO
Josephine
1 year ago
I've used historical production rates before and it worked out well.
FI
Filiberto
1 year ago
I agree, it's a reliable method when you don't have a detailed estimate.
ME
Merrilee
2 years ago
Historical production rates are definitely the way to go.
BA
Barbra
2 years ago
I think historical production rates can be used.