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NEW QUESTION: 1
You work as a project manager for HRM Inc. You are using the three point estimate to calculate the estimated activity durations for your project. If you have an optimistic estimate of 10 days, a pessimistic estimate of 19 days, and a most likely estimate of 13, which of the following is the expected activity duration for your project?
A. 0
B. 16.5
C. 1
D. 17.5
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Answer option A is correct.
A three-point estimate is a way to enhance the accuracy of activity duration estimates. This concept is originated with the Program Evaluation and Review Technique (PERT). PERT charts the following three estimates:
Most likely (TM): The duration of activity based on realistic factors, such as resources assigned,
interruptions, etc.
Optimistic (TO): The activity duration based on the best-case scenario
Pessimistic (TP): The activity duration based on the worst-case scenario
The expected (TE) activity duration is a weighted average of these three estimates:
TE = (TO + 4TM + TP) / 6
Duration estimates based on the above equations (sometimes simple average of the three estimates is also used) provide more accuracy.
Here, the expected activity duration will be:
TE = (TO + 4TM + TP) / 6
TE = [10+ (4*19) +13]/6
= [10+76+13]/6
=16.5
Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth edition" Chapter: Time and Cost Management Objective: Task Duration Estimating
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