AACE International AACE-PSP Exam - Topic 4 Question 34 Discussion

Actual exam question for AACE International's AACE-PSP exam

Question #: 34
Topic #: 4

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?

AThe Eichleay formula

BHistorical production rates

CTime impact analysis

DBlack-Scholes model

Show Suggested Answer

Suggested Answer: B

by Georgene at Apr 07, 2025, 04:08 PM

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Fabiola

2 months ago

Time impact analysis could work too, but not as reliable as historical rates.

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Gracia

3 months ago

I’ve always used the Eichleay formula for similar situations.

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Leigha

3 months ago

Definitely agree, B is the way to go!

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Dierdre

3 months ago

Wait, the Black-Scholes model? That seems off for estimating durations.

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Jacqueline

3 months ago

I think historical production rates are super useful for this.

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Chaya

3 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.

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Felicia

4 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?

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Mireya

4 months ago

I'm not entirely sure, but I remember something about the Eichleay formula being used for cost estimates, not really for durations.

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Flo

4 months ago

I think we might need to look at historical production rates for estimating durations. That sounds familiar from our practice questions.

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Arlene

4 months 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.

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Gearldine

4 months 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.

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Denae

5 months 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.

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Teresita

5 months 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.

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Emily

9 months ago

Historical production rates, easy peasy. Unless the project manager is a time-traveling, stock-trading physicist, in which case I'm completely lost.

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Aliza

8 months ago

The Black-Scholes model seems a bit out of place here, I would stick with historical production rates.

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Nan

8 months ago

I agree, it's a reliable method when detailed estimates are not available.

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Kenia

8 months ago

Historical production rates are definitely useful for estimating work package/activity durations.

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Jose

10 months 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.

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Svetlana

9 months ago

Definitely, it's a practical approach to estimating work package durations.

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Rodney

9 months ago

Yeah, I think that's the best option to use in this situation.

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Elliot

9 months ago

I agree, historical production rates seem like the most logical choice.

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Almeta

10 months ago

I believe time impact analysis can also be helpful in estimating work package durations.

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Odette

10 months 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?

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Leslie

9 months ago

The Eichleay formula may be complex, but historical production rates are a practical choice for estimating durations.

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Rochell

9 months ago

I agree, using past data can give a good indication of how long tasks will take.

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Laurel

10 months ago

Historical production rates are a reliable source for estimating work package durations.

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Nathalie

10 months ago

I agree with Barbra, historical production rates provide valuable information.

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Brynn

10 months 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.

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