Description
Three-Point Estimating is a technique used to estimate cost or duration of an activity by applying an average or weighted average of optimistic (O), pessimistic (P), and most likely (M) estimates when there is uncertainty with the individual activity estimates.
E = (O + M + P) / 3.
It is an independently-used project management tool.
Where it is Used
It briefly mentions the specific places during project management where the tool or technique can be used
Process Groups
This tool is used in the following Process Group(s) during the project management
Planning
Knowledge Areas
This tool is used in the following Knowledge Areas during the project management
Project Cost Mgmt.
Project Schedule Mgmt.
Activities
This technique is used while performing the following project management activities by the project manager and the team
Estimate Costs
Estimate Activity Durations
Process Group | Knowledge Area | Activity |
Planning | Project Cost Mgmt. | Estimate Costs |
Project Schedule Mgmt. | Estimate Activity Durations |
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