Applying level of uncertainty using PERT to entire project

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Applying level of uncertainty using PERT to entire project

Post by Fred45 » Thu Feb 25, 2021 1:50 pm

I need to be able to apply a certain level of risk to the entire project but I can't figure out how to do it. I would like to use PERT analysis and apply it to the entire project to see how it affects finish date. How can I input those parameters and apply it to the entire project? Will it also give me some sort of graphical display for each task? Thank you.

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Re: Applying level of uncertainty using PERT to entire project

Post by Intaver Support » Thu Feb 25, 2021 1:51 pm

PERT analysis is different than Monte Carlo simulation. However, using Triangular statistical distribution is analogous distribution when running simulations. While there are several different ways to apply statistical distributions (uncertainty) to activities here is the quickest way:

1. Select every task – Click on first task ID and drag down.
2. Right-click on a Task ID to open the shortcut menu.
3. Click on Set Low/High Duration.
4. Enter in the coefficients and select the Statistical Distribution and click OK.
5. Check that the durations have been assigned correctly
6. Run the Simulation and on the ribbon, click Analysis. Result Gantt.
7. Select the activity you want to view and in the Task Simulations group, click Probability Plot. You can double-click on a chart to open up a detailed view of the results.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject

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