This post demonstrates how to use PERT (Program Evaluation and Review Technique) to compute the weighted average duration, standard deviation, and the variance of each activity in a given project. It then calculates the average or expected project duration, which is the sum of the average activity times on the critical path. Finally knowing the average project duration and the variances of all activities, the probability (Z) of completing the project by a certain time is then calculated using standard statistical tables.
Posts Tagged ‘duration’
April 2nd, 2013 2 comments
Categories: Time Management
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