Triangular distribution is a common formula used when there is insufficient historical data to estimate duration of an activity. It is based on three points that consider estimation uncertainty and risk.
8 items found
This hybrid estimation technique of a project’s costs and duration begins with a top-down approach and then progressively improves the estimates for the project phases as they are implemented. Some projects by their nature cannot be thoroughly defined because of the uncertainty of product designs and configurations due to market volatility of supply and demand.
“Project Definition Risk” is the risk that the project is not fully and completely defined, understood and estimated prior to initiation.
Adaptive Planning|Adaptive Planning