Explanation/Reference:
Explanation:
Three-Point Estimate. A technique used to estimate cost or duration by applying an average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.

Section: Volume E
Explanation:
4.3.3.3 Change Requests
A change request is a formal proposal to modify any document, deliverable, or baseline. An approved change request will replace the associated document, deliverable, or baseline and may result in an update to other parts of the project management plan. When issues are found while project work is being performed, change requests are submitted, which may modify project policies or procedures, project scope, project cost or budget, project schedule, or project quality. Other change requests cover the needed preventive or corrective actions to forestall negative impact later in the project. Requests for a change can be direct or indirect, externally or internally initiated, and can be optional or legally/contractually mandated, and may include:
Corrective action-An intentional activity that realigns the performance of the project work with the project

management plan;
Preventive action-An intentional activity that ensures the future performance of the project work is aligned

with the project management plan;
Defect repair-An intentional activity to modify a nonconforming product or product component;

Updates-Changes to formally controlled project documents, plans, etc., to reflect modified or additional

ideas or content.

Section: Volume E

Explanation/Reference:
Explanation:
5.6.3.3 Project Management Plan Updates
Project management plan updates may include, but are not limited to:
* Scope Baseline Updates. If the approved change requests have an effect on the project scope, then the scope statement, the WBS, and the WBS dictionary are revised and reissued to reflect the approved changes through Perform Integrated Change Control process.
* Other Baseline Updates. If the approved change requests have an effect on the project besides the project scope, then the corresponding cost baseline and schedule baselines are revised and reissued to reflect the approved changes.