Duration estimates based on three points with an assumed distribution provide an expected duration and clarify the range of uncertainty around the expected duration.
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
3 Point is a simple average while PERT uses Weighted Average.
PERT formula has a statistical background. It is based on probability theory and statistics. Specifically PERT is based on Beta Distribution. PERT became part of Project Management literature after statistical and research findings.
While both are applicable to Cost & Duration Estimation, I personally use the PERT Formula.
Duration estimates based on three points with an assumed distribution provide an expected duration and clarify the range of uncertainty around the expected duration.
Thanks, I will use PERT from now on. Saving Changes...
3 Point is a simple average while PERT uses Weighted Average.
PERT formula has a statistical background. It is based on probability theory and statistics. Specifically PERT is based on Beta Distribution. PERT became part of Project Management literature after statistical and research findings.
While both are applicable to Cost & Duration Estimation, I personally use the PERT Formula.
Thanks, I will use PERT from now on. Saving Changes...
AKSHAY JAINPlanning Group Leader| YOKOGAWA, BahrainGwalior, Mp, India
3 point PERT is now a standard. It gives good weightage to most likely event and it is more close to realistic estimate.
3 points estimate use a triangular distribution, each estimate have the same weight
PERT give more weight to the most likely estimate, it use Beta distribution.
Some software will let you specify the type of distribution that should be use according experience on specific task. There is more than trangular and beta.
PERT is the most practical and probably the most use
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1 reply by David Hernandez
Nov 10, 2016 2:17 PM
David Hernandez
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Thanks a lot for your comment.
Saving Changes...
Ghahreman AbouzarCommissioning specialist| Protech Engineering.IncPort Coquetlam,, British Columbia, Canada
3 points estimate use a triangular distribution, each estimate have the same weight
PERT give more weight to the most likely estimate, it use Beta distribution.
Some software will let you specify the type of distribution that should be use according experience on specific task. There is more than trangular and beta.
PERT is the most practical and probably the most use
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