Which of the following tools incorporates statistical analysis in determining time estimates?
Which of the following tools incorporates statistical analysis in determining time estimates?
PERT (Program Evaluation Review Technique) incorporates statistical analysis in determining time estimates. It uses three different time estimates for activities: optimistic, most likely, and pessimistic. This helps in accounting for uncertainties in project scheduling and provides a more realistic timeline.
A PERT chart is a network diagram that allows project managers to create project schedules. They’re used in the Program Evaluation Review Technique (PERT) to represent a project timeline, estimate the duration of tasks, identify task dependencies and find the critical path of a project. PERT (Program Evaluation Review Technique) charts are used by project managers to create realistic schedules by coordinating tasks and estimating their duration by assigning three time estimates for each; optimistic, most likely and pessimistic. This makes PERT charts useful when planning projects where the duration of activities is uncertain.