April 2004
Beginner to intermediate
256 pages
8h 58m
English
book
The Project Management Tool Kit: 100 Tips and Techniques for Getting the Job Done Right
by Tom Kendrick
Content preview from The Project Management Tool Kit: 100 Tips and Techniques for Getting the Job Done Right
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Quantitative Modeling and Computer Simulation
Using a range of estimates for time (or cost) for Monte Carlo simulation provides the basis of the Program Evaluation and Review Technique (PERT). PERT was originally created to assess quantitatively overall project risk, based on three estimates (optimistic, most likely, and pessimistic), defining the mean and variance (risk) for each project estimate. Computer simulation or statistical analysis of the schedule (PERT time) provides an overall assessment of project schedule risk, and similar analysis of cost estimates (PERT cost) determines budget risk.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.