Program Evaluation and Review Technique. A project management technique for determining how much time a project needs before it is completed. Each activity is assigned a best, worst, and most probable completion time estimate. These estimates are used to determine the average completion time according to the PERT Weighted Average Formula:

(Optimistic Estimate + (4 times Most Likely Estimate) + Pessimistic Estimate) divided by 6.

The average times are used to figure the critical path and the standard deviation of completion times for the entire project .

(Wideman Comparative Glossary of Common Project Management Terms v2.1)

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J. Jerrald Hayes
I am ex-architectural woodworker and general contractor turned IT, Business and Project Management consultant, software developer wannabe senior division triathlete and ski racer, Yankee fan and founder of, 360 Difference, and now too.
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