The results of the expected value calculations are shown in Table 8-2 and are included on Figure 8-15 as well. Also included in the table and on the network are measures of the uncertainty for the duration of each activity, the variance, a,2 that is given by

<r2 = ((6 -a)/6)2 and the standard deviation, a , which is given by

This calculation of cr is based on the assumption that the standard deviation of a beta distribution is approximately one-sixth of its range, (b — a)/6.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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