Analytical Techniques

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Analytical Techniques

Postby Piyali Thu Aug 21, 2014 6:49 am

"Which Analytical techniques are BEST suitable to check the performance of project /phase at the time of close project/ phase?"

A Reserve analysis and Variance analysis

B Regression analysis and Trend Analysis

C Reserve analysis and Trend Analysis

D Variance analysis and regression analysis
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Re: Analytical Techniques

Postby signor_rk Thu Aug 21, 2014 8:19 am

Option # B , i.e., Regression and Trend Analysis
Regards ,

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Re: Analytical Techniques

Postby Parul Fri Aug 22, 2014 5:58 am

Thanks for reply, yes correct Answer is – B

Explanation – Reserve analysis deals with buffers or contingency reserves in the project schedule to account for schedule uncertainty. Contingency reserves are estimated during schedule baseline and associated with ‘Known-unknowns’. It is not related with performance evaluation. Variance Analysis is used in EVM for analyzing different variances such as schedule and cost. Regression analysis can be used by series of variables as inputs and corresponding outputs in order to get the relationship and get the performance of the project. Trend analysis is another technique which can be used to check the performance of the project at time of closing, as it helps in for casting future outcomes depending on historical data.
Tags –Closing Process Group, Project Integration Management, Close Project or Phase

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