If you google “why projects fail” you will get about 10 million results, which implies an undeniable fact, that is projects do fail, as per the study conducted by the Standish group (2004 edition), 18% of projects are considered failed (cancelled before completion), 53% of projects have been tagged as “challenged” (over budget and/or overtime and/or not meeting quality requirements), typically 43% of projects are delivered over budget and 82% exhibit schedule slippage.

PERT is a technique to depict project activities and to calculate duration of each activity keeping uncertainty/risk in mind, PERT (Program Evaluation and Review Technique) was first develop in fifties (1950s), as a method to estimate activity duration, it is often referred to as PERT Chart, PERT uses indeterministic methodology to calculate duration, by trying to anticipate three estimates, worst case scenario represented by pessimistic value or longest duration an activity will take to finish, best case scenario represented by optimistic value or shortest duration an activity will take to finish, third factor is the most likely estimate, the 3 factors feed into a formula which takes probability into consideration to calculate the duration of the activity, the formula is:

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Tired of Searching for commands in the menus of Office 2003, then you should upgrade to Office 2007, once you start using Office 2007, I am sure you will love it, and will get new experience of using Offie Ribbon that makes navigation a real fun!, I have seen so many people using Office 2007 but not even know the name of this square that shows the group of commands on the top banner area of Office application this is simply a Ribbon!, the below image is for a ribbon.