CAPM (Certified Associate in Project Management) Practice Exam

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What does weighted three-point estimates or beta/PERT primarily use?

Total project cost
(O + 4ML + P)/6
Standard deviation of project
(P - O)/6

The correct answer is: (O + 4ML + P)/6

Weighted three-point estimates, also known as beta/PERT, primarily use the formula (O + 4ML + P)/6. This formula calculates the expected value of an activity duration by taking a weighted average of three estimates: the optimistic (O), most likely (ML), and pessimistic (P) estimates. By giving more weight to the most likely estimate (4 times the ML estimate compared to 1 time each for O and P), the beta/PERT technique can provide a more accurate and reliable estimation of the activity duration, enabling better project planning and scheduling. Therefore, option B is the correct choice for this question.