those who can't read and understand "For each activity of network, the project manager has arrive three time estimites to(optimistic time), tm(most likely time) and tp(pessimistic time) are given along the arrows in the to-tm-tp order. Determine variance and expected time for each activity."
Great explanation! I have a question, what's the role of the variance? I see that the estimation time is determined only by the sum of the Te. (the variance is not included anywhere). Thanks a lot!
Razan, the variance would be used to find a range. Take your weighted average then subtract the variance to give you the low end, and add it to give you the high end of the range. So in this video's first example where the weighted average (Te) is 9 and the variance is 1, your range would be 8-10.
Hi, For calculation of 't', we are basically taking the average of 6 numbers: to, tm, tm, tm, tm and tp (tm+tm+tm+tm = 4tm). Hence, in order to find the average for these six numbers, we are dividing by 6. Same way, for the calculation of variance, the denominator needs to have the number of data points in consideration. Since we have 6 data points, we are dividing by 6. Thanks.
this is purely subjective. You should have indicated that. Would have been easier to assign subjective probabilities based on experience and calculate the expected value, variance and standard deviation.
Project management is not just about managing logistics and hoping the project team is ready to play to win. The skills of project management are more important than ever before, so team members are inspired to contribute to the project's success. This task should be played by project’s manager. I am student of project management and learning the effects of new skills here www.amazon.com/dp/B00JVSY2JC. It is good assessment.
those who can't read and understand
"For each activity of network, the project manager has arrive three time estimites to(optimistic time), tm(most likely time) and tp(pessimistic time) are given along the arrows in the to-tm-tp order. Determine variance and expected time for each activity."
Blrrrrr ...sir I can't read anything ths.but its helped through ur voice.tq sir
why in the formula everytime we divide it by 6
thank u. simple explanation which is really very useful....
Thankyou Jagat...
very useful and informative video
please explain about how find optimistic and psimistic time? thanks
Great explanation! I have a question, what's the role of the variance? I see that the estimation time is determined only by the sum of the Te. (the variance is not included anywhere). Thanks a lot!
Razan, the variance would be used to find a range. Take your weighted average then subtract the variance to give you the low end, and add it to give you the high end of the range. So in this video's first example where the weighted average (Te) is 9 and the variance is 1, your range would be 8-10.
Why do you divide by 6 in the variance and t expected ?
Hi,
For calculation of 't', we are basically taking the average of 6 numbers: to, tm, tm, tm, tm and tp (tm+tm+tm+tm = 4tm). Hence, in order to find the average for these six numbers, we are dividing by 6. Same way, for the calculation of variance, the denominator needs to have the number of data points in consideration. Since we have 6 data points, we are dividing by 6.
Thanks.
maxus knowledge Why should we take 4 times of tm
Kurre Bhaskar its most propably number, so it has weight of 4 times.
this is purely subjective. You should have indicated that. Would have been easier to assign subjective probabilities based on experience and calculate the expected value, variance and standard deviation.
It is really a great technique...
Project management is not just about managing logistics and hoping the project team is ready to play to win. The skills of project management are more important than ever before, so team members are inspired to contribute to the project's success. This task should be played by project’s manager. I am student of project management and learning the effects of new skills here www.amazon.com/dp/B00JVSY2JC. It is good assessment.
Great explanation
as tm is the value that ranges between to and tp so we take 4 times its value
Thank you. Very useful.
Thankyou!!!
it helped .....thanx a lot
thank you sir
Wad mahadsan lkn inaaad ingiir ku hadasho ayaa fiicneyd
thnx a lot
thank you....
thanks a lot
bruh, i cant even read your writing