UBS

PERT Estimate

What is a PERT Estimate?

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:

  • Optimistic Value (O)
  • Pessimistic Value (P)
  • Most Likely Value (M)

It uses the following formula.

E_PERT=(O+P+4×M) / 6

Also, See: PERT Chart

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