MGOC20H3 Lecture Notes - Lecture 4: Mean Squared Error, Linear Regression, Moving Average
Document Summary
When less confident about projects, use pert to get estimates for how long a project can take. Three estimates: pessimistic (the maximum time expected; can take forever to do something, but it won"t take 0 time); b , optimistic (has a clear minimum); a , most likely m ; middle. Some activities have more variance than others (more varying opinions on how long it will take) Overall project follows a normal distribution: use z-score, where mew is 15 weeks, there"s a 50% chance that the project will be finished in 15 weeks. Using more resources to shorten the duration or to speed it up (if behind) Crash time; how quickly it can be done. Which ones are cheapest to crash, crash critical activities. All paths need to be crashed to fit the constraint: start with the longest, and crash the most effective/cheapest ones. Internal: funding as a start up, headcount (hiring sales reps)
