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GAQM PPM-001 Exam - Topic 3 Question 100 Discussion

Actual exam question for GAQM's PPM-001 exam
Question #: 100
Topic #: 3
[All PPM-001 Questions]

What is a specific advantage of analogous estimating in comparison with other cost estimate techniques?

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Suggested Answer: C

by Diego at Sep 19, 2024, 11:27 AM

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Julio
3 months ago
Yeah, I heard it saves a lot of time compared to detailed methods.
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Ilona
3 months ago
Can it really be applied to segments of work? Seems tricky.
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Carey
3 months ago
Agreed, it's super quick to get estimates!
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Shizue
4 months ago
I disagree, I think it's not always accurate.
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Mattie
4 months ago
It's definitely less costly and time consuming!
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Justine
4 months ago
I feel like I read that it’s not necessarily more accurate than other methods, so I’m leaning towards the time-saving aspect being the main advantage.
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Willis
4 months ago
I practiced a question like this, and I think the key point was that it’s quicker to implement, which makes it really useful in tight timelines.
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Ashleigh
4 months ago
I’m not entirely sure, but I remember something about it being applicable to segments of work. That might be an advantage too.
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Kanisha
5 months ago
I think one of the advantages of analogous estimating is that it’s less costly and time-consuming compared to other methods.
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Lino
5 months ago
From what I recall, analogous estimating doesn't use contingency reserves like some other techniques do. So that's probably not the right answer. I'm leaning towards the "less costly and time consuming" option, but I want to double-check my notes just to be sure.
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Sherill
5 months ago
Analogous estimating allows you to apply the technique to specific segments of the work, which I think could be really useful. That flexibility seems like a big advantage over some of the other cost estimate methods.
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Ivette
5 months ago
Hmm, I'm not totally sure about this one. I know analogous estimating uses historical data, but I can't remember if that makes it more or less accurate than other methods. I'll have to think this through a bit more.
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Lakeesha
5 months ago
I think the key advantage of analogous estimating is that it's less costly and time consuming compared to other techniques. That seems like the most straightforward answer.
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Delila
5 months ago
The business analysis checklist is definitely the way to go here. It's a comprehensive tool that can help the BA ensure all requirements are verified, which is exactly what the project board is concerned about. Easy choice in my opinion.
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Mitsue
9 months ago
If they really wanted to test our estimating skills, they should've asked us to estimate the cost of this exam. That would be a real challenge!
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Glendora
10 months ago
Maybe I should just roll the dice and pick A. Contingency reserves sound like a good time to me!
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Trevor
8 months ago
It's true that it uses contingency reserves, but there are other advantages to consider as well.
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Serina
8 months ago
Analogous estimating is less costly and time consuming, so it's a good choice.
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Vicente
9 months ago
Go for it! Contingency reserves are always a good idea.
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Eura
10 months ago
D, definitely D. Accuracy is key in this field, and I'm not looking to wing it.
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Ettie
8 months ago
Using contingency reserves can also help with accuracy, so it's a good combination.
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Luther
9 months ago
I agree, having a more accurate estimate can save a lot of trouble down the line.
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Chau
9 months ago
D, definitely D. Accuracy is key in this field, and I'm not looking to wing it.
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Lucy
10 months ago
I'm thinking C is the best choice. Analogy is a powerful tool, and being able to apply it to specific segments is a big plus.
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Annamae
8 months ago
In the end, I think it's a combination of factors that make analogous estimating advantageous.
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Marylyn
8 months ago
That's true, using contingency reserves can definitely help with unexpected costs.
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Bettina
9 months ago
But don't you think using contingency reserves, like option A, is also important for accurate cost estimates?
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Viva
9 months ago
I agree, being able to apply analogous estimating to segments of work can be very beneficial.
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Kallie
10 months ago
Yes, it allows for a more detailed and accurate cost estimate for each part of the project.
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Claudio
10 months ago
I agree, being able to apply analogous estimating to specific segments of work can be very beneficial.
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Madalyn
10 months ago
Option B seems like the way to go. I don't want to spend too much time or money on this exam, you know?
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Maryanne
10 months ago
But doesn't it also use contingency reserves to account for uncertainties?
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Herminia
11 months ago
I agree with Jesusa. It's helpful to break down the estimate into smaller parts.
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Jesusa
11 months ago
I think the advantage of analogous estimating is that it can be applied to segments of work.
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