Project Management 4

PERT the Project Evaluation and Review Technique. We take the example from the first video, assume the activity times are stochastic, use an estimate of the pessimistic, most probably and optimistic times, then calculate probabilities on the total time of the project.

Category:

Education

Tags:

• PERT
• project
• evaluation
• and
• review
• technique
• management

[Soundrangar]

Thanks a lot. The best of PERT I have learnt! - I just had one question in the end. The Z Value of 0.57 from Z Table direclty gives 0.7157. So since its two tailed I guess we donot have to add 0.5 to the corresponding Z value. Is my understanding right?

[pomscm]

There are different formats for Z score tables. Yours, apparently gives the probability from the point to the area to the left. (look at the shaded area on the diagram) That is exactly what you want for this question, so, don't add or subtract anything from it. That's the answer.

Some tables only give the area from the point to the mean.

[scary35555]

Thank you very much. I am a project controls analyst for an energy company. You are way better than my college stats teacher. Larry, Houston Texas