PERT Effort Estimation
The application includes a custom action to help the project manager estimate the effort of the WBS using the PERT technique. PERT is an estimating technique that uses a weighted average of three numbers to come up with a final estimate. The most pessimistic (P) case when everything goes wrong The most optimistic (O) case where everything goes right The most likely (M) case given normal problems and opportunities The resulting PERT estimate is calculated as (O + 4M + P)/6. This is called a “weighted average” since the most likely estimate is weighted four times as much as the other two values.