"It always takes longer than you expect, even when you take into account Hofstadter's Law."
— Douglas Hofstadter, Gödel, Escher, Bach: An Eternal Golden Braid
"It always takes longer than you expect, even when you take into account Hofstadter's Law."
— Douglas Hofstadter, Gödel, Escher, Bach: An Eternal Golden Braid
Cost estimation is an NP problem. Perhaps it will become practical when we can use a quantum supercomputer to estimate the time needed to build a single page web app.
Expected time = (best + 4 * likely + worst) / 6
I went hunting for the origins of that formula a few years ago. I couldn't find the original source, and certainly none of the sources I found had a justification for it.
Someone who works at RAND could probably pull the original internal work and tell us. But I suspect it was chosen for ease of calculation.
While it's been criticised for being normal-esque instead of pessimistically skewed, it still outperforms single-point estimations. I think it's because of the "unpacking effect" that a full PERT estimate causes you to undergo.
There's a literature of people tinkering with the formula, but I don't think it's anywhere near as important as the unpacking effect is.
PERT was invented by the US Navy but these days the DoD recommends not using it but just use normal Critical Path Analysis instead where you just estimate a single time - hard enough on it's on without having to do it three times.
But as I said elsewhere in this thread, my suspicion is that the unpacking effect dominates the "improvement" that's observed and that the particular formula is largely secondary.
PERT is taught as a time based planning tool but it also has a earned value element. The tools for that have moved on too.
https://en.wikipedia.org/wiki/Earned_value_management
I suppose the unpacking effect does make more sense though, over CPA.
"How long will it take?"
"6-8 weeks"
So what do you put in CPA - 6, 7, 8 ? PERT says 7.