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Scholars Journal of Engineering and Technology | Volume-3 | Issue-01
Improved approximation of PERT activity parameters and validation
V. Sireesha, N.Ravi Shankar
Published: Jan. 25, 2015 |
152
112
DOI: 10.36347/sjet
Pages: 55-60
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Abstract
In Project Evaluation and Review Technique (PERT) , the activity mean and variance are very useful to find
the expected project duration and variance of the critical path. Project duration makes a large difference in the economic
aspects of the project. Assuming activity durations in a project are beta distributed, new estimates of mean and variance
of activity duration are derived. It is observed that the estimated mean is more moderate and the estimated variance is
more conservative compared to other estimates of beta distribution. It is observed that, the new time estimates overcomes
the problem of optimistic planning.