CAPM Practice Exam Question

A project manager is overseeing a software development project and has just completed defining activities and sequencing them. Now, the project manager needs to determine the duration for each activity to develop a realistic schedule. Some activities are dependent on resource availability, and the project manager wants to account for potential delays due to these constraints. Which of the following techniques would be the most appropriate for estimating activity durations in this situation?

A) Analogous Estimating

B) Parametric Estimating

C) Three-Point Estimating

D) Critical Path Method (CPM)

Looking for more practice exam questions like this? Enroll in our online CAPM Exam Prep course , featuring more than 1,700 practice questions. By doing so, you can supercharge your CAPM Exam preparation and earn 37 Contact Hours, which is essential for your exam application. Enroll now for the ultimate exam readiness!

Best Answer:

C. Three-Point Estimating

Explanation:

Three-Point Estimating is the most suitable technique in this scenario because it provides a more accurate duration estimate by accounting for uncertainty and variability in activities. This technique involves estimating three values for each activity duration: the optimistic estimate (O), the most likely estimate (M), and the pessimistic estimate (P). By using these three data points, the project manager can calculate an expected duration that reflects potential delays and resource constraints.

For instance, if resource availability is unpredictable, the pessimistic estimate would consider possible delays, while the optimistic estimate would assume smooth resource availability. The most likely estimate reflects a typical scenario. The expected duration can then be calculated using a weighted average (usually through the PERT formula), giving the project manager a realistic timeframe that considers uncertainties.

Option A, Analogous Estimating, uses historical data from similar projects or activities and is typically less accurate than three-point estimating for projects with significant uncertainties. It’s faster but doesn’t account for specific resource constraints or variability.

Option B, Parametric Estimating, calculates duration based on statistical relationships, like units produced per hour, which can be effective when activities are repetitive and consistent. However, it’s not ideal when the project manager needs to account for resource availability and variability, as it does not consider multiple scenarios (optimistic, most likely, pessimistic).

Option D, Critical Path Method (CPM), is used to identify the longest path through the project’s schedule, determining the project’s minimum completion time. Although valuable for schedule analysis, CPM doesn’t provide an estimation technique for individual activity durations, so it’s not suitable for estimating activity durations in this context.

Therefore, C. Three-Point Estimating is the best answer, as it provides a well-rounded approach that incorporates variability and potential resource constraints, allowing the project manager to create a more realistic project schedule.