Probabilistic Time for Completion of Any Activity

Answer: D– All of the above.

Probabilistic time for completion of any activity can be found as optimistic time, pessimistic time, and most likely time.

Explanation-

PERT stands for Program Evaluation and Review Technique, and it was designed to meet the needs of projects with unknown time and cost projections.

It takes a probabilistic approach and is hence appropriate for first-time initiatives or projects involving research & development.

Probabilistic time for completion of any activity can be found from optimistic time, pessimistic time, and most likely time.

• The optimistic time estimates the shortest time possible needed to complete the activity.
• The term most likely time calculates how long it will take to complete an activity in normal circumstances.
• Pessimistic time calculates the maximum amount of time that could be needed to complete the activity.

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