Engr 301 - Midterm Review Study Guide Questions And Correct Answers

What is a FAST TRACK delivery method? Who is it good for? {Ans: Build and design overlap, EVERYWHERE [Fastest but needs good management]}Is it cheaper as you increase the detail of your estimate? {Ans: Hellz no, the more detail, the more $$$}So, is having tons of data a good thing? {Ans: Yeah, if you're willing to invest the time analyzing it. It's a balancing act, you don't want to overdo it and pass the point of diminishing returns}What are some important things that define a project? {Ans: It's temporary (time dependent) to create a unique project (guess Samung doesn't count)}What are some characteristics of project stakeholders? {Ans: (1) Actively involved in project (2) Interest is influenced by project (3) Can influence project's objectives}Do we factor in cost of errors? {Ans: Yup, you kinda want to minimize these, unless you want to be broke}