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Professional Certificate in Business Finance
A software project manager is preparing estimates for a new development effort. Historically, the manager knows that a large proportion of the total budget is exposed to a single category of cost, so errors there compound and frequently cause project failure. Which cost category should the manager scrutinise most carefully?
Explanation
In software development projects labour costs can be as much as 70 per cent of the total budget costs so errors in estimating labour costs
A project manager estimates that a critical task will take 10 days but is only 50% certain of delivering within that time. According to good estimating practice described in the source, what should the manager do?
Explanation
In practice you should aim for 80%. If you do not achieve 80% then re-calculate or seek advice.
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