Estimating Cost, Time & Schedule

Title Three-Point Estimation and PERT

Three-Point Estimating and PERT Distribution (Cost & Time Estimation)

Estimating Cost, Time & Schedule, Project Management / By

Estimating time, efforts and cost is one of the most critical parts of project management. This is because of the fundamental importance of these estimates for the entire project planning and, in particular, the scope, schedule and cost baseline. One of the estimation techniques suggested in the PMI Project Management Body of Knowledge (PMBOK 6th …

Three-Point Estimating and PERT Distribution (Cost & Time Estimation) Read More »

Three-Point Estimation Calculator – Triangular & PERT Beta Distribution

Estimating Cost, Time & Schedule, Tools & Templates / By

Three-Point estimating is a common estimation technique in projects that are applying the PMI methodology. While other estimation techniques are often deemed to be more accurate, three-point estimating supplemented with the triangular or beta (PERT) distribution is useful if the experience with or benchmarks of comparable projects are not available. Use this calculator to determine …

Three-Point Estimation Calculator – Triangular & PERT Beta Distribution Read More »

Estimate at Completion Title

Estimate at Completion (EAC) – with Formulae & Examples

Earned Value Management, Estimating Cost, Time & Schedule / By

If you want to forecast the project cost for the completion of the entire project, you will need the indicators “estimate at completion (EAC)” and “to-complete performance index (TCPI)”. Both are part of the data analysis techniques of the control costs process in the PMI’s Project Management Body of Knowledge (PMBOK®, 6th edition, p. 263-265). …

Estimate at Completion (EAC) – with Formulae & Examples Read More »