Three-Point Estimation - PERT vs. Triangular Distribution Explained!
3-Point Estimation | PERT with Standard Deviation & Triangular Distribution Explained
In this video, we dive deep into the world of 3-Point Estimation—a powerful technique to enhance the accuracy of your project forecasts.
You'll learn:
How PERT (Program Evaluation and Review Technique) uses Optimistic, Most Likely, and Pessimistic estimates to deliver more reliable results.
The role of Standard Deviation in assessing project risks and uncertainties.
The simplicity of the Triangular Distribution and when it's best to use it.
0:00 Introduction
0:53 What is PERT?
3:22 Standard Deviation in PERT
4:15 Cost Estimation using PERT
5:00 Triangular Distribution
6:13 Triangular Distribution Vs PERT
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