Miscellaneous time facts Flashcards
1
Q
Three-point estimate
A
This time estimate approach uses three factors to predict the duration of each task. The formula is (optimistic + most likely + pessimistic) divided by three.
It is an average of the three time factors for each activity.
2
Q
PERT (Program Evaluation and Review Technique)
A
This approach is weighted on the most likely estimate. The formula is the optimistic plus four times the most liekly plus the pessimistic; this sum is then divided by six.
I like to write this as (O + (4ML) + P) / 6.
3
Q
Critical Chain
A
This network diagramming approahc is based on the avaiability of project resources to determine project completion. It is more accurate than the traditional network diagram, but is more complex to create.
