Improved approximation of PERT activity parameters and validation
Journal Title: Scholars Journal of Engineering and Technology - Year 2015, Vol 3, Issue 1
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. Keywords: PERT, Beta distribution, Activity times, Project duration.
Authors and Affiliations
V. Sireesha, N. Ravi Shankar
Keywords
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