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You ask your subordinates how long it will take to complete the job they are working on.The subordinates say,"If everything goes right it will take 6 hours,most likely it will take 8 hours and if everything goes wrong it will take until the end of tomorrow or another 16 hours".Since this job is a part of a larger project you must estimate the expected time it will take to complete the job.Using the three activity time estimation procedure for CPM,what is the expected time for this job?
Simulation
The process of creating a model of a real-world system and conducting experiments on that model to understand its behavior or to make predictions.
Forecast Charts
Visual tools that display predicted data trends over time to aid in forecasting future activities, trends, or values.
Theoretical Distributions
Mathematical functions that describe the probabilities of outcomes of a random variable based on certain assumptions and parameters.
Define Group
The process of specifying a set of individuals or items that share one or more characteristics, for the purpose of categorization or analysis.
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