Please help me with my PERT project. I must review my WBS, Risk Assessment, and Risk Matrix and evaluate estimated time tables, or schedules for each. Apply these principals to your selected high five risk elements to develop an expected time value for each for inclusion in your RMP. I need to develop schedule scenarios for the 20 high priority risks. PERT is the acronym for Program Evaluation and Review. In PERT I need to use three different time estimates for each task in determining the PERT-based task activity time. A note here, in contrast, the Critical Path Method, CPM, uses a single estimate for each task duration or activity time and may include early and late start time schedules. PERT relies on only three estimates for activity durations instead of one. The three estimates are used to calculate the weighted average, which then becomes the final activity duration estimate, which is called the expected value. To further define these, Expected (Estimate) time: This estimate is exactly that, the expected time it should take to complete this activity. Optimistic (Estimate) time: This estimate is the ideal, the one that you're looking for. It assumes that everything that can go right, will, i.e., all goes according to plan, that no risks interfere with the activity, and that regarding this activity falls into place with no problems. Pessimistic (Estimate) time: The pessimistic estimate is the opposite of the optimistic estimate. It assumes that almost everything that can go wrong, will, problems will come up that are unforeseen or just will happen for the worst, and resources, as well as everything else, won't be available. This approach determines how long it will take to finish the activity with everything going wrong. Most Likely (Estimate) time: This estimate is a balance between the optimistic and the pessimistic estimates, the most likely duration of the activity. Now, with these three estimates, and the formula, let's put it in an easy read form: Expected Value = (Optimistic + Pessimistic + (4 x most likely) = 6. I have no clue how to begin and complete this assignment. Attached is my excel spreadsheet showing the work I have done (weeks 3, 4, 5) and the PERT information need to be added in week 6 drawing form the information in week 5. Please help if you can because I do not know how to figure out the PERT. The results of the PERT need to be added into week 6 in the spreadsheet.
Paper#12441 | Written in 18-Jul-2015Price : $25