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Statistical PERT™ Blog | Estimation made easy.

The bigger problems with estimating anything. There are a couple of bigger problems to wrestle with than the fact that Statistical PERT relies upon the normal curve instead of any other, better-fitting probability distribution. Let’s talk about a few of them. The first one that comes to mind is the error in choosing the values for the minimum, most likely, and maximum outcomes. For a bell-shaped uncertainty. Are these obtained from historical records? Are they industry benchmarks? August 17, 2015. I̵...

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Statistical PERT™ Blog | Estimation made easy. | blog.statisticalpert.com Reviews
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The bigger problems with estimating anything. There are a couple of bigger problems to wrestle with than the fact that Statistical PERT relies upon the normal curve instead of any other, better-fitting probability distribution. Let’s talk about a few of them. The first one that comes to mind is the error in choosing the values for the minimum, most likely, and maximum outcomes. For a bell-shaped uncertainty. Are these obtained from historical records? Are they industry benchmarks? August 17, 2015. I&#821...
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Statistical PERT™ Blog | Estimation made easy. | blog.statisticalpert.com Reviews

https://blog.statisticalpert.com

The bigger problems with estimating anything. There are a couple of bigger problems to wrestle with than the fact that Statistical PERT relies upon the normal curve instead of any other, better-fitting probability distribution. Let’s talk about a few of them. The first one that comes to mind is the error in choosing the values for the minimum, most likely, and maximum outcomes. For a bell-shaped uncertainty. Are these obtained from historical records? Are they industry benchmarks? August 17, 2015. I&#821...

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blog.statisticalpert.com blog.statisticalpert.com
1

Skewing and Statistical PERT | Statistical PERT® Blog

http://blog.statisticalpert.com/2015/08/10/skewing-and-statistical-pert

Skewing and Statistical PERT. Statistical PERT uses a normal curve to create probabilities. The Excel functions NORM.DIST and NORM.INV assume that every normal curve is symmetrical — even when it’s not. How do I know that? Recognize the skewing of the probability curve, and so the resulting probabilities obtained from many trials are properly adjusted in a way that SPERT can’t do. So Monte Carlo simulation produces superior results because it can respond to skewness in a probability curve. August 10, 2015.

2

Monte Carlo – better than Statistical PERT? | Statistical PERT® Blog

http://blog.statisticalpert.com/2015/08/11/monte-carlo-better-than-statistical-pert

Monte Carlo – better than Statistical PERT? She’s right — but only if someone is skilled in creating a Monte Carlo simulation model, and only if that same person has access to good Monte Carlo simulation software. There are many more choices than PERT, SPERT and Monte Carlo simulation to estimate a project. But if you have access to Microsoft Excel, you already have the necessary software to create SPERT estimates. All you need now is the skill to do so. This entry was posted in Uncategorized. Predicting...

3

Why 42% = Guesstimate | Statistical PERT® Blog

http://blog.statisticalpert.com/2015/08/06/why-42-guesstimate

Why 42% = Guesstimate. In yesterday’s blog post, I explained why the SPERT-7 Rule equates near certainty in the most likely outcome of a bell-shaped uncertainty with a 7% Ratio Scale Multiplier. In today’s post, I’ll explain why under a condition of great uncertainty surrounding the most likely outcome, the Ratio Scale Multiplier is 42% in the SPERT-7 Rule. What if all you have is a vague guess? The SPERT-7 Rule says that a Guesstimate occurs when you distribute 100 hypothetical trials over a 3-point est...

4

The bigger problems with estimating anything | Statistical PERT® Blog

http://blog.statisticalpert.com/2015/08/17/the-bigger-problems-with-estimating-anything

The bigger problems with estimating anything. There are a couple of bigger problems to wrestle with than the fact that Statistical PERT relies upon the normal curve instead of any other, better-fitting probability distribution. Let’s talk about a few of them. The first one that comes to mind is the error in choosing the values for the minimum, most likely, and maximum outcomes. For a bell-shaped uncertainty. Are these obtained from historical records? Are they industry benchmarks? August 17, 2015. 2016 P...

5

Statistical PERT® Blog | Estimation made easy™ | Page 2

http://blog.statisticalpert.com/page/2

New Statistical PERT Website Launched! Yesterday, I launched the new Statistical PERT website. Which uses a WordPress theme. It’s all the essential information as before, but now it looks better and, importantly, has a responsive design so if you access the website using a mobile device, the site conforms to a small screen (no zooming in just to read a webpage! I also created a new, four-page, full-color brochure: Why Use Statistical PERT? This entry was posted in PMI Global Congress. July 29, 2016.

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Statistical PERT™ Blog | Estimation made easy.

The bigger problems with estimating anything. There are a couple of bigger problems to wrestle with than the fact that Statistical PERT relies upon the normal curve instead of any other, better-fitting probability distribution. Let’s talk about a few of them. The first one that comes to mind is the error in choosing the values for the minimum, most likely, and maximum outcomes. For a bell-shaped uncertainty. Are these obtained from historical records? Are they industry benchmarks? August 17, 2015. I&#821...

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