PERT is defined as a review technique that uses different ways to evaluate a project. It is based on the beta distribution technique and uses an approximate formula to calculate a weighted average of three numbers.
Simple average is calculated based on the triangular distribution technique and, as the name suggests, calculates the mean of three numbers.
The 3 values that determine the expected value are:
It uses the following formula.
E_PERT=(O+P+4×M) / 6
Also, See: PERT Chart
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