Share
Explore BrainMass

Schedule and Cost Control Techniques

There are various ways of forecasting the schedule and cost of a project. You know that forecasting techniques you use and their accuracy will affect the CIO's perspective on your work. Address the following issues:

Pros and cons of inflating a project based on PERT estimating or incorporating risk. (1-2 paragraphs)
How does this compare with estimating or forecasting techniques you have used in the past? (1-2 paragraphs)

Solution Preview

I- Pros and cons of inflating a project based on PERT estimating or incorporating risk. (1-2 paragraphs)

PERT is used to determine where the greatest work effort should be made to keep the project on schedule, to determine the probability of meeting deadlines with alternate plans, and to evaluate the effect of changes to the project.

Considering the PERT technique is primarily used when the estimates of activity duration are probabilistic it lends itself well to creating contingency reserves by using three time estimates (optimistic, expected, and pessimistic) to derive an expected time that incorporates a contingency reserve - a benefit from using this technique.

Additional Advantages:

- A PERT chart explicitly defines and makes visible dependencies (precedence ...

Solution Summary

This solution discusses the pros and cons of inflating a project based on PERT estimating or incorporating risk.

$2.19