SAB11#59_TYPES ESTIMATIONS_AND_#61_TYPES SCHEDULE

SAB11#59_TYPES ESTIMATIONS_AND_#61_TYPES SCHEDULE

1. TYPES ESTIMATIONS

   • 1. ONE POINT ESTIMATING
     • THE TIME ESTIMATE MAY BE BASED ON EXPERT JUDGEMENT OR HISTORICAL INFORMATION
   • 2. ANALOGOUS ESTIMATING TOP DOWN
     • APPLICABLE TO BOTH TIME AND COST ESTIMATING . USES EXPERT JUDGMENT AND HISTORICAL INFORMATION
   • 3. PARAMETRIC ESTIMATING
     • LOOKS AND THE RELATIONSHIPS BETWEEN VARIABLES ON AN ACTIVITY TO CALCULATE TIME OR COST ESTIMATES
   • 4. THREE POINT ESTIMATING
     • ESTIMATOR GIVE AN OPTIMISTIC (O), PESSIMISTIC (P) AND MOST LIKELY (M) ESTIMATE FOR EACH ACTIVITY
   • 5. TRIANGULAR DISTRIBUTION
     • A SIMPLE AVERAGE OF THE THREE POINT ESTIMATES CAN BE DONE USING THE FORMULA (P+O+M)/3
   • 6. BETA DISTRIBUTION
     • GIVES STRONGER CONSIDERATION TO THE MOST LIKELY ESTIMATE. (P+4M-O)/6 DERIVED BY PERT

2. TYPES SCHEDULE

   • 1.NETWORK DIAGRAM
     • IS AGRAPHICAL REPRESENTATION OF THE LOGICAL RELATIONSHIPS, ALSO EFERRED TO AS DEPENDENCIES, AMONG THE PROJECT SCHEDULE ACTIVITIES
   • 2. MILESTONE CHART
     • ONLY IDENTIFY THE SCHEDULED START OR COMPLETION OF MAYOR DELIVERABLES AND KEY EXTERNAL INTERFACES
   • BAR CHART
     • ALSO KNOWN AS GANTT CHARTS, REPRESENT SCHEDULE INFORMATION WHERE ACTIVITIES ON THE VERTICAL AXIS, DATES ARE SHOWN ON THE HORIZONTAL AXIS, AND ACTIVITY DURATIONS ARE SHOWN AS HORIZONTAL BARS PLACED ACCORDING TO START AND FINISH DATES