Setting defaults for optimistic and pessimistic duration

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Monte Carlo
Posts: 11
Joined: Sat Jun 16, 2007 7:03 pm
Location: USA

Setting defaults for optimistic and pessimistic duration

Post by Monte Carlo » Thu Oct 29, 2015 1:49 pm

I am still trying to figure out how to set the default optimistic and pessimistic duration values.
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Intaver Support
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Joined: Wed Nov 09, 2005 9:55 am

Re: Setting defaults for optimistic and pessimistic duration

Post by Intaver Support » Thu Oct 29, 2015 1:52 pm

If you would like to automatically add low and high default estimates, you can do this in the Project Options Duration tab. In the Calculation of low and high durations and work. There are two different options, to calculate the estimates based on the relative duration of tasks, select the "Multiply on coefficient" option.

A good starting point is to enter a small variance such as .95 and 1.15 to model schedule quality. You can then run a first simulation. At which point, you can review with Project team and stakeholders, to modify tasks that are critical or near critical.

The other method is to use reference classes and is the preferred method in larger more technical projects ... sting.html. If you are interested, this blog is an invaluable source of information in regards to project risk.

Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject

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