Project cost estimating manual. The purpose of this manual is to provide guidelines for the preparation of cost estimates for all transport infrastructure capital works projects developed by the department.
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The Estimating Accuracy Trumpet. ISPA_PEH_4th_ed_Final. Construction Estimating Software: Estimating software for pricing, takeoff, bidding. PERT, 3-point estimate. Number of View: 27145 3 Point Estimate with 3 people The Program Evaluation and Review Technique (PERT) formula is a simple and useful tool for project managers, and those who are planning to take their PMP Exam should have it memorized.
There is much more to PERT as a project scheduling and planning technique than this formula, but here we’ll focus just on the formula. The PERT formula is mentioned in the 4th edition PMBOK® as a tool and technique of two processes—Estimate Activity Durations and Estimate Costs. The formula provides a weighted estimate—and the formula doesn’t care if the numbers you use represent time or money—so that’s why it’s in both the PMBOK’s Time and Cost knowledge areas.