Estimate activity durations
Once the activity sequences are established, the next logical step is to estimate the activity durations. The key techniques are;
- Analogous estimation – Estimation of the activity at hand is performed by comparing it with a past similar activity.
- Parametric estimation – based on averages / indexes. Example : Cost / Square feet
- Three point estimates based on optimistic (tO), pessimistic (tP) and most likely (tM). Estimated time (tE) = (tO + tP + tM)/3.
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