The PERT formula includes three things: The optimistic time estimate (OO)— the ideal situation where everything goes right. Unfortunately, that's rarely the case. The pessimistic time estimate (PP)— where everything goes wrong. The most probable time estimate (MM)— the most likely situation...
The basic PERT estimate equation used to determine your expected time is E= (O + 4M + P)/6. Once you have identified each time estimate, they can be plugged into the PERT formula to more effectively calculate a project’s duration. Let’s demonstrate with a simple house ...
From these estimates, project managers calculate the expected time, which is an estimate of how long it takes to complete a task, taking into consideration any problems or obstacles that might arise. Many project managers use a formula to calculate the expected time: E=(O+(4×M)+P)/6 In...
To use it, estimate the shortest possible time each activity will take, the most likely length of time, and the longest time that might be taken if the activity takes longer than expected. Use the formula below to calculate the time to use for each project stage: shortest time + 4 x ...
Learn more about this topic: PERT Analysis & Project Completion from Chapter 14 / Lesson 7 48K Learn about PERT analysis, which is used to estimate the time it will take to complete a project. Explore the PERT formula and types ...