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The characteristics of project life cycles vary and should be considered when determining which life cycle is the best fit for a project. Match the delivery life cycle approach based on where it falls on the continuum when considering frequency of delivery and degree of change.
Life Cycle Continuum
Low frequency of delivery and high degree of change
Low frequency of delivery and low degree of change
High frequency of delivery and low degree of change
High frequency of delivery and high degree of change
Using the estimates provided, calculate the beta distribution: most likely estimate (ML) = 72, optimistic estimate (O) = 55, pessimistic estimate (P) = 85. Round to one decimal point.
Select one
You are a project manager working on manufacturing a new product. The operational process is very detailed. One of the components of the product must measure 1 centimeter by 1 centimeter. Reliability is measured using a machine that samples one part in every hundred to assure the measurements are correct. Which of the following does this question describe?
Select one
Which of the following estimate ranges represents a rough order of magnitude?
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Grant hesitantly knocks on his project sponsor’s door to notify her of a budget overage that has occurred. Because of a vendor error, he shared that a critical piece of equipment would cost $30,000 more than originally estimated. Fortunately for Grant, the sponsor understood the situation and approved the use of funds set aside for unexpected events. From where will Grant pull the funds to cover the equipment?
Select one