What Is the Underlying Theory to the Three Time Estimates

question 100

Essay

What is the underlying theory to the three time estimates approach? What data distribution should be applied in this case and what confidence should a project manager place in the calculations associated with this technique?

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Definitions:

Management

The process of planning, organizing, directing, and controlling resources efficiently to achieve objectives.

Managerial Task

Involves responsibilities that a manager needs to perform, which may include planning, organizing, leading, and controlling an organization's resources.

Prediction

The act of forecasting future events based on current or past information, often involving analysis or models.

Explanation

The act of making something clear or understandable through detailed information or reasons.