In this exercise, you will explore PERT and the three-point estimates in the Estimating Worksheet you used in the last exercise.

In the Estimating Worksheet that you completed in Exercise 1 of this chapter, navigate to the worksheet called “3 Point Estimate.” This worksheet is based on the entries you made in Exercise 1. You will also use the worksheets in this file called “PERT” and “PERT versus 3 Point.”

1. What is the three-point estimate result for Ruth Carze on this entry?
2. Navigate to the worksheet titled “PERT.” This worksheet is based on the values you’ve entered on the “Time cost analysis” worksheet.
3. What is the PERT result for Ruth Carze?
4. Return to the “Time cost analysis” worksheet and change the optimistic values for Ruth Carze to 20.
5. Compare the three-point result and the PERT result for Ruth Carze with this new optimistic value.
6. Navigate to the worksheet titled “PERT versus 3 Point.”
7. On this worksheet there are two charts that will compare the results of the three-point estimate and PERT. Hover your mouse over the first bar that represents Paul Samms in the 3 Point Estimate chart. What is the value that’s displayed?
8. Now hover your mouse over the first bar that represents Paul Samms in the PERT Estimate chart. What is the value that’s displayed?

9. Why is there a difference between the PERT value and the three-point value?