How do you do 3 point estimation mindmanager

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I have estimated my Basis of Estimate as a single amount but I would like to do it as a three point estimate to capture the uncertainty in the estimate
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Ian Hobson

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Posted 2 weeks ago

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Ary Velstra, Expert Trainer

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Could you provide some examples - visuals-  of what you need and why. That helps us understand better
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Ian Hobson

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Sorry for being slow

It's a pert technique

Three-point estimate is a tool used to help increase the accuracy of cost and time estimates. Like the name implies, there are three parts which are the three different estimates.

An optimistic estimate is what you hope will be the amount of time to complete their project assuming everything goes as planned.
The pessimistic estimate is the worst case scenario and is an estimate that you give if everything goes wrong.
The most likely estimate is what will most likely happen and usually falls between the pessimistic and optimistic estimate.
Then use that in the formulas to give an indication of actual finish time and potential deviation