Q - Cost Estimation

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vikram_unde
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Q - Cost Estimation

Postby vikram_unde Wed Sep 14, 2016 11:08 am

In below question, in explanation it is mentioned " estimate at start of project would be USD 50 Mn".
Does this mean that, we should find out estimate at start and not use "50 Mn" given is Question?
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manishpn
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Re: Q - Cost Estimation

Postby manishpn Wed Sep 14, 2016 11:35 am

Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
vikram_unde
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Re: Q - Cost Estimation

Postby vikram_unde Wed Sep 14, 2016 11:42 am

manishpn wrote:http://forum.izenbridge.com/viewtopic.php?f=3&t=2609&p=9454&hilit=Sam+is+half+way#p9454


Thanks Manish!

I went through the link but it does not answer my query.
My doubt is "Does this mean that, we should find out estimate at start and not use "50 Mn" given is Question?"

Appreciate additional inputs from you. Thanks!

Regards,
Vikram Unde
manishpn
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Re: Q - Cost Estimation

Postby manishpn Wed Sep 14, 2016 2:15 pm

Hi Vikram question has provided you both the information.
ROM range of USD 30 Mn to USD 70 Mn - one can use the range to calculate initial estimate
or use 50 MN which is already provided in the question

you can get question with either of the information.
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
vikram_unde
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Re: Q - Cost Estimation

Postby vikram_unde Thu Sep 15, 2016 5:45 am

manishpn wrote:Hi Vikram question has provided you both the information.
ROM range of USD 30 Mn to USD 70 Mn - one can use the range to calculate initial estimate
or use 50 MN which is already provided in the question

you can get question with either of the information.


Thanks Manish,

I tried to calculate initial estimate (ROM) using -25% and +75%. But, I get initial estimate as 40 Mn instead of 50 Mn. My calculation as below:

Let us assume initial estimate as x Mn.

x - 0.25x = 30 --> 0.75x = 30 --> x = 40
x + 0.75 x = 70 --> 1.75x = 70 --> x = 40

Request you to verify and provide your inputs

Thanks!
Vikram Unde
harshadsp
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Re: Q - Cost Estimation

Postby harshadsp Wed Feb 28, 2018 11:16 am

vikram_unde wrote:
manishpn wrote:Hi Vikram question has provided you both the information.
ROM range of USD 30 Mn to USD 70 Mn - one can use the range to calculate initial estimate
or use 50 MN which is already provided in the question

you can get question with either of the information.


Thanks Manish,

I tried to calculate initial estimate (ROM) using -25% and +75%. But, I get initial estimate as 40 Mn instead of 50 Mn. My calculation as below:

Let us assume initial estimate as x Mn.

x - 0.25x = 30 --> 0.75x = 30 --> x = 40
x + 0.75 x = 70 --> 1.75x = 70 --> x = 40

Request you to verify and provide your inputs

Thanks!
Vikram Unde


Same with me. I too didn't get the calculation on how that 50M comes by looking at 30M and 70M as ROM, could anyone please elaborate?
Thanks
Harshad
manishpn
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Re: Q - Cost Estimation

Postby manishpn Thu Mar 01, 2018 5:32 pm

thanks

this needs to be rectified
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/

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