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Time Estimates for Individual Activities

Time Estimates for Individual Activities:

A) Weighted Average Activity Time, t =  (a + 4m + b)/6

B) Standard deviation of activity times, σt = (b-a)/6

C) Standard deviation of project completion, σT= √ (∑ σt2)

a = optimistic completion time (1 in 100 chance of completing the activity earlier under normal conditions)
m = most likely activity time
b = pessimistic completion time (1 in 100 chance of completing the activity later under normal conditions)
t = weighted average activity time
σt = standard deviation of activity completion
σT = standard deviation of project completion       

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