ABSTRACT
This chapter describes a classic approach for dealing with this class of project schedule estimation. It moves classical theory to a more modern base, but part of education is to understand how we got to a certain place. The chapter shows more detail regarding how to use the PERT model to generate a variable time project time estimate. It takes each subject to a new conceptual level and illustrates how variability can be analyzed using more modern and robust tools that exist to serve the same purpose. The chapter opens team knowledge door a little further using simulation modeling to generate a wider set of result analysis options. It focuses on a similar view of non-mathematical type of analysis using simulation modeling, which represents the more modern and sophisticated method of dealing with the analysis of variable task estimates. The chapter describes the concept of variable time task estimates for project planning.
