PK0-005 Project Life Cycle Practice Question
A project manager is estimating activity durations for a construction project. She uses a parametric estimate based on 100 square meters per day. If the total area is 500 square meters, the estimated duration is 5 days. Which THREE statements are true about parametric estimation?
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
It can be used for both cost and duration estimation.
Parametric estimation uses statistical relationships between historical data and other variables. It is a quantitative technique that can be very accurate if the parameters are reliable. It can be used in conjunction with other methods.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✓
It can be used for both cost and duration estimation.
Why this is correct
Correct. Parametric estimation applies to both cost and time.
- ✓
It requires a reliable source of data to be accurate.
Why this is correct
Correct. Accuracy depends on the quality of the historical data.
- ✓
It uses a statistical relationship between historical data and variables.
Why this is correct
Correct. It relies on historical data and mathematical models.
- ✗
It is less accurate than analogous estimation.
Why it's wrong here
Parametric is generally more accurate than analogous if reliable data is used.
- ✗
It is a bottom-up technique.
Why it's wrong here
Parametric can be top-down or bottom-up, but it is not exclusively bottom-up.
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