GSLC · Question #251
Which of the following are used as a cost estimating technique during the project planning stage? Each correct answer represents a complete solution. Choose three.
The correct answer is A. Expert judgment B. Function point analysis D. Delphi technique. Expert judgment, function point analysis, and the Delphi technique are recognized project cost estimating methods, while PERT is a scheduling and time-estimation technique rather than a cost estimating technique.
Question
Which of the following are used as a cost estimating technique during the project planning stage? Each correct answer represents a complete solution. Choose three.
Options
- AExpert judgment
- BFunction point analysis
- CProgram Evaluation Review Technique (PERT)
- DDelphi technique
How the community answered
(21 responses)- A95% (20)
- C5% (1)
Why each option
Expert judgment, function point analysis, and the Delphi technique are recognized project cost estimating methods, while PERT is a scheduling and time-estimation technique rather than a cost estimating technique.
Expert judgment leverages the knowledge and experience of subject matter experts to produce cost estimates, and is formally recognized in the PMBOK Guide as a tool and technique for cost estimation.
Function point analysis is a software cost estimation method that measures the functional size of a software system to estimate development effort and corresponding cost.
PERT (Program Evaluation Review Technique) is primarily a project scheduling tool used for schedule network analysis and time estimation, not a cost estimating technique.
The Delphi technique is a structured, iterative forecasting method that gathers anonymous expert consensus through multiple rounds to produce cost estimates while reducing individual bias.
Concept tested: Project cost estimating techniques in PMBOK
Source: https://www.pmi.org/pmbok-guide-standards/foundational/pmbok
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