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Statiscal Analysis of probable finish time

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Fri, 2005-04-15 08:19
Irfaan Adams
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Just wanted to get the views of the proffesionals on this topic.

Assuming that you have planned a program to finish in 14months at a cost of 50mill and you use the normal formula to calculate the duration is optimist+4Xmost likely+Pessimestic all divide by 6. Now the client tells you that he wants the project to finish in 10months using the same amount of money which basically leads you to crash certain activities squeeze some juice out of tasks and so on.
Now the question. What is the statistical probability that you will be able to get the project to finish on time and within budget.
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Fri, 2005-04-15 13:29
#1
Vladimir Liberzon
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It depends on the project. Simulating uncertainties and risks you can calculate the probability of meeting any target date.
You can also try fast tracking increasing project risks.
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