PMP: Accuracy vs Precision

Refer to Project Quality Management,

• Accuracy: a measure of how the measured values close to the target value
  • If the measured values are accurate, they may not be precise as they can be larger or smaller than the target value on a wide range.
• Precision: a measure of how the measured values close to each other (but not necessarily close to the target value)
  • If we say the measurements are very precise, we do not give out any hint on whether the measurements are accurate (i.e. close to the target value).
• Which is more important? Accuracy is MUCH MUCH MORE important than precision