What is optimistic time and pessimistic time?
The optimistic time is the fastest possible time needed to complete the task and usually involves additional cost. Normal time is the most likely time, while the pessimistic time is the slowest time needed to complete the task.
What is a most likely time?
Most likely time, expressed as ‘tm’, represents estimate of time for completion of an activity, which is neither optimistic nor pessimistic, assuming that things should go in a normal way, and if the activity is repeated several times, in most of the cases, it will be completed in time represented by t.
What is pessimistic time Mcq?
the maximum time which an activity might require. the average time required for a job. the most probable time considering all conditions. the minimum time in which an activity can possibly be accomplished.
What is the expected time in PERT?
in Program Evaluation And Review Technique (PERT), a weighted average time that is widely used in a real life application of PERT to a complex project, where the completion times for activities are not certain.
How do you calculate pessimistic time?
The PERT estimate (E) is based on a formula that includes your optimistic time estimate (O), your most likely time estimate (M) and your pessimistic time estimate (P). The basic equation is this: E = (O + 4M +P) / 6 .
How do you find pessimistic time?
Using the PERT Formula The PERT estimate (E) is based on a formula that includes your optimistic time estimate (O), your most likely time estimate (M) and your pessimistic time estimate (P). The basic equation is this: E = (O + 4M +P) / 6 .
What is slack time?
Slack time is an interval that occurs when there are activities that can be completed before the time when they are actually needed. The difference between the scheduled completion date and the required date to meet the critical path is the amount of slack time available.
What are optimistic pessimistic and most likely time used in PERT?
Optimistic time – The least amount of time it can take to complete a task. Pessimistic time – The maximum amount of time it should take to complete a task. Most likely time – Assuming there are no problems, the best or most reasonable estimate of how long it should take to complete a task.
What is dummy activity?
A dummy activity is an activity added to a project schedule as a placeholder. A dummy activity is intended to show a path of action in a project activity diagram and is employed when a logical relationship between two activities cannot be linked by showing the use of arrows linking one activity to another.
What is crashing the project duration?
What Is Project Crashing? Project crashing is when you shorten the duration of a project by reducing the time of one or more tasks. Crashing is done by increasing the resources to the project, which helps make tasks take less time than what they were planned for.
Is slack time good?
It tells you just how much time you have to start a project to keep the project on time. If you go past the slack time without starting a task, you’ll delay the project. Slack time is important since it keeps the project on time and within budget. The longer a project is delayed, the more expensive it gets.