PERT calculations typically include the duration variance of each activity. What is the purpose of this calculation, i.e. what's the role of variances in PERT analysis?
What will be an ideal response?
The activity variances influence the probability of project completion. Specifically, the sum of the variances of the critical tasks equals the variance of the project. Further, large variances on noncritical tasks need to be monitored. Such an activity might have an actual completion time so large that the task becomes a critical task.
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