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TOPIC: Three-Point Estimation Technique

Three-Point Estimation Technique 1 year 8 months ago #12735

  • Anuj Chopra
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Hi All,
Can you please help me to understand when to use "Triangular Distribution Formula" and "Beta Distribution Formula" to solve the question related to that.
Basically, what statement of the question will help me to identify which formula to use.

Your quick reply will be really really appreciated.

Many Thanks ..

Three-Point Estimation Technique 1 year 8 months ago #12773

  • Steven Mudrinich, PMP
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Anuj,

It should be pretty intuitive on which formula to use on the exam, but here's a few ways to distinguish. If given a chart, the Triangular Distribution will plot as a triangle while the Beta Distribution will plot more as a bell curve. You'll see Triangular Distribution used more holistically to capture the statistics of an entire project without a ton of historical data to fall back on, while Beta Distribution is better when there is already historical data to compare with. Thus, Triangular is less accurate and more of a "guesstimate".

Basically, if the exam asks you about new projects without a lot of available data or project experience, you are probably looking at using the Triangular Distribution.

- Steven

Three-Point Estimation Technique 1 year 8 months ago #12776

  • Anonymous
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thanks Steven.. thanks for putting light on it.
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