Project scheduling
It is difficult to determine the expected duration of activities of the project accurately. The triple time estimates give a reliable measure of the project completion period (Collins, 2011). The triple time estimates are used to determine the time, standard deviation and the variance for each activity as well as the entire project. The following formula gives the activity times: Activity time = (Optimistic time+4×Most likely time+pessimistic time)6 Standard deviation = (Pessimistic time- Optimistic time)6
Network diagram
The above network diagram indicates that the project will be completed in 72.67 days. The total duration of the critical path ...
