With projects for which there is a high degree of uncertainty about the estimated durations for activities, it is possible to use three time estimates:
A)an original estimate, a petrified estimate, and a most likely estimate.
B)an optimistic estimate, a pessimistic estimate, and a most likely estimate.
C)an optimised estimate, a primary estimate, and a most likely estimate.
D)an opportunity estimate, a pragmatic estimate, and a most likely estimate.

Question

Quizplus · Accepted Answer

The best choice is to use an optimistic estimate, a pessimistic estimate, and a most likely estimate. This is known as the PERT (Program Evaluation and Review Technique) technique and helps in incorporating uncertainty into the project schedule. The optimistic estimate assumes the shortest possible time, the pessimistic estimate assumes the longest possible time, and the most likely estimate is based on a realistic assessment. By using all three estimates, a weighted average can be calculated to determine a more accurate estimate of the activity duration.

With Projects for Which There Is a High Degree of Uncertainty