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On the Generality of the PERT Average Time Formula |
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| Authors: | Marvin D. Troutt |
| Abstract: | It is well known that the PERT average time formula approximation is related to the Beta distribution assumption. In this note, it is shown that if the formula is modified to use the median instead of the mode, then it becomes a good approximation regardless of distribution assumptions. Applications of the formula beyond project management are highlighted. |
| Keywords: | Human Information Processing Project Management and Statistical Techniques |