Reply: 3 Point Estimation Formulas for 6th edition (Schedule & Cost)

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Topic History of : 3 Point Estimation Formulas for 6th edition (Schedule & Cost)

Max. showing the last 6 posts - (Last post first)
2 years 7 months ago #13517

Ty Weston, PMP

Ty Weston, PMP's Avatar

I cannot answer to how the PMBOK was edited or why, but the recommendation is always to know the formulas regardless. It should be clear from a question as to which formula is being addressed.
2 years 7 months ago #13514

C.W.

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I noticed that the newly revised 6th Edition PMBOK ONLY addresses Triangular 3 point estimation with regard to Schedule. However, it still addresses both Triangular AND Beta distribution in the Cost section. In the past, we were typically instructed to use BETA distribution unless specifically told otherwise with regard to both time and cost estimation questions. Is this still the case? Was this purposely omitted for Schedule - in which case we should use triangular? Or was this omission in error? For Cost...then would we continue to use Beta distribution, or will it depend? Both answers have often been included as possible answers...how can we be expected to calculate correctly without knowing the preferred formula? Thoughts? Guidance? For reference RMC prep book 6th edition still includes both formulas for both sections...but they tend to include additional information for comprehensive understanding.

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