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How many different estimating techniques were discussed in the case? There are three estimation techniques used in the case study.1. Three point estimate: This is used by estimating group in the case study. It has three values optimistic estimate, most-likely estimate and pessimistic estimate. Optimistic approach is based on the assumption that everything goes well in project which is like ideal case and bit far away from reality. Pessimistic approach is based on considering unexpected situations that are going to happen during in the project like resource going on vacation, network outage, system crashes etc. Most-likely value is somewhere in between optimistic and pessimistic value and is near to the actual time that is needed. So one should consider most-likely estimate out of three.2. Triangular distribution: It is simply the average of the optimistic, pessimistic and most-likely estimates. In the case study triangular distribution estimate is nearer to Barbara’s 14 week estimate.In these two estimates the complexity of the project is not considered so Barbara and Peter decided to consider Analogy estimation.3. Analogy estimation: In this techniques previous projects success factors are taken into consideration along with the complexity of the project.If each estimate is different, how does a project manager decide that one estimate is better than another?Project manager should keep all aspects in mind like a project complexity, scope, have personal estimation based on prior experience which is almost near to real time to finish project and also the requirements of the bid and make sure it doesn’t deviate much from the original estimates in the bid.He should discuss it with team and review the estimates and roll them out to compare with initial estimates.If you were the project manager, which estimate would you use?The real time estimate given by peter based on analogy estimation for a grade 9 employee is 16-17 weeks which is far off of the estimates given by the estimating team and can imagine a grade 7 employee’s estimate will be not even close to estimating team’s estimate which is 20 weeks. So I would choose triangular distribution which is closer to bid estimate.
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