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Which three time estimates does PERT assign to each activity?
APlanned, revised, and finally the audited time
BMinimum, average, and the maximum cost of time
CSetup, running, and the cleaning down time
DOptimistic, most probable, and pessimistic time
Answer & Solution
Correct answer: D. Optimistic, most probable, and pessimistic time
1. The critical path method uses a single certain duration for each activity.
2. PERT accepts that durations are uncertain and describes each one with a range.
3. The first estimate is an optimistic time for completion, which assumes everything goes well.
4. The second is the most probable time, which is the realistic expectation.
5. The third is a pessimistic time, which allows for things going badly.
6. Holding all three lets managers anticipate delays and potential problems and schedule accordingly, which a single figure could never do.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 10 "Achieving World-Class Operations Management", section The Big Picture: Critical Path Method and PERT_
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