Great stuff. Very helpful One trick I was told was to us Pessimistic + Most likely + Opptomstic.. Thus.. PMO.. PMO is easy to remember as its part of Project management
Thanks for the question. The named technique of PERT (Program Evaluation Review Technique) developed by Booz Allen Hamilton in the 1950's uses 4 as the weighting factor for Most Likely. PERT is in fact a "weighted" three point estimating technique. It uses 4 rather than any other number as the weighting factor as this seems to give the best combination of an easy technique and consistently good results. So the basic answer is "that's the number the technique of PERT uses". Hope this helps.
The technique called PERT (Project Evaluation Review Technique) uses a weighting factor of 4 as a standard. This is because overall it has been shown to be the best, simple, setting, giving the most accurate results. Of course, for your own needs in special circumstances you can set different weightings. In Microsoft Project for example you can adjust the PERT weights. For the PMP exam though, use a weighting of 4 for PERT.
And thanks to you for taking the time to comment. As you may know the PMP exam is switching to be based on the 5th Edition of the PMBOK(R) Guide at the end of July 2013. Accordingly I will be loading a new batch of videos to address topics that are either new or that have changed significantly in the latest version. Best regards to you.
@7:21 he is discussing the Triangular and not PERT so the formula (P-O)/3 is correct (and you are wrong). @7:38 he is discussing the PERT and he use the formula (P-O)/6 and he is correct. Next time review your comment first.
All the concepts are explain in such a simple manner. Really great videos. Looking forward to see more on PMP 5th edition with its additional information/ processes/ knowledge areas.
I was having a hard time to calculate the float. This vdo really helped me in doing so. Thanks and a great video. Is it possible to provide a list of all the videos by you. I would like to go through all of them before taking the exam.
I'm very happy to know that you will be uploading new videos based on the 5th edition of the PMBOK, Sir. Needless to say, I can't wait to watch them. Thank you in advance and more power to you. Best regards to you too Sir.
@@yssird It did demand a lot of preparation. Because I studied so much, it didn't look so hard, but I know several people who fail because they don't have the chance to study so many hours as I could. currently I'm teaching on the PMI Prep course for PMP certification and most students who attend to all study group sessions and read the support books carefully can obtain the certification, but it is a certification that demands several hours of preparation
Great stuff. Very helpful
One trick I was told was to us Pessimistic + Most likely + Opptomstic.. Thus.. PMO.. PMO is easy to remember as its part of Project management
Is there any videos teaching how to do Monte Carlo simulation to get Criticality Index for activity and each path?
These videos were so useful, thank you very much.I will be following you, just keep the videos coming.
Thanks for the question. The named technique of PERT (Program Evaluation Review Technique) developed by Booz Allen Hamilton in the 1950's uses 4 as the weighting factor for Most Likely. PERT is in fact a "weighted" three point estimating technique. It uses 4 rather than any other number as the weighting factor as this seems to give the best combination of an easy technique and consistently good results. So the basic answer is "that's the number the technique of PERT uses". Hope this helps.
Standard deviation is (pessimistic - optimistic)/6
For the PERT technique, yes, as I explain in the video. For triangular it is P - O / 3.
To find the mean of weighted PERT estimate we use this formula ( O + 4ML + P)/ 6. right? my question is why we divide it by 6
Still using this video in 2020
The technique called PERT (Project Evaluation Review Technique) uses a weighting factor of 4 as a standard. This is because overall it has been shown to be the best, simple, setting, giving the most accurate results. Of course, for your own needs in special circumstances you can set different weightings. In Microsoft Project for example you can adjust the PERT weights. For the PMP exam though, use a weighting of 4 for PERT.
And thanks to you for taking the time to comment. As you may know the PMP exam is switching to be based on the 5th Edition of the PMBOK(R) Guide at the end of July 2013. Accordingly I will be loading a new batch of videos to address topics that are either new or that have changed significantly in the latest version. Best regards to you.
@7:21 the formula for standard deviation using PERT should be (P-O)/6 not (P-O)/3.
@7:21 he is discussing the Triangular and not PERT so the formula (P-O)/3 is correct (and you are wrong). @7:38 he is discussing the PERT and he use the formula (P-O)/6 and he is correct. Next time review your comment first.
You explain these topics very well. Straight to the point and very clear. I hope you can make more videos on PMP. Thank you so much!
All the concepts are explain in such a simple manner. Really great videos. Looking forward to see more on PMP 5th edition with its additional information/ processes/ knowledge areas.
I was having a hard time to calculate the float. This vdo really helped me in doing so. Thanks and a great video. Is it possible to provide a list of all the videos by you. I would like to go through all of them before taking the exam.
I'm very happy to know that you will be uploading new videos based on the 5th edition of the PMBOK, Sir. Needless to say, I can't wait to watch them. Thank you in advance and more power to you. Best regards to you too Sir.
Thank you!! this was very helpful!!
Great info and very easily illustrated!
Thanks, am preparing for the exam. questions are tricky type. Thanks for preparing this.
Thank you so much, will be taking PMP exam. Really appreciate all your work.
Thank you so much. Clear as Crystal.
Thanx a lot.. that's very useful
I don't understand where you get the 4 for ML.
Thank you! This was helpful!
Thank you for this!
Best explanation ever!
Thank you for this great series of videos -it helped me a lot as I prepare for my exam. Very clarifying and interesting!
Was the test hard?
@@yssird It did demand a lot of preparation. Because I studied so much, it didn't look so hard, but I know several people who fail because they don't have the chance to study so many hours as I could. currently I'm teaching on the PMI Prep course for PMP certification and most students who attend to all study group sessions and read the support books carefully can obtain the certification, but it is a certification that demands several hours of preparation
Thanks so much.!!!!
Thank you! very clear explanation!
very usefull, thanks
Very well explained....
Excellent!!! Thank You!!!
Thank you so much
Clear explanation
is this video still valid for pmbook fifth edition and others video
+Mohamed Ramadan Yes, all of the detail here is still relevant and accurate for later editions of the PMBOK. Thanks.
thank you
thnk you
Good stuff
Excellent