What formula can a project manager use to estimate task duration? Provide an example.
What will be an ideal response?
PERT/CPM techniques use a weighted formula for estimating the duration of each activity. The project manager first makes three time estimates for each activity: an optimistic, or best-case, estimate (B); a probable-case estimate (P); and a pessimistic, or worst-case, estimate (W). The manager then assigns an importance value to each estimate and calculates a weighted average. The weight can vary, but a common approach is to use a ratio of B=1, P=4, and W=1. The expected activity duration then is calculated as: (B + 4P + W) / 6
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