In the formula for calculating variance in PERT, the difference between pessimistic and optimistic estimates is divided by 3 before squaring.
False
True
The statement is false. The correct formula for calculating variance in PERT is: Variance = ((Pessimistic - Optimistic) / 6)². The difference between pessimistic and optimistic estimates is divided by 6, not 3, before squaring. This division by 6 represents one standard deviation in the beta distribution, which is assumed in PERT. Dividing by 3 would result in an incorrect variance calculation, leading to inaccurate risk assessments and project estimations. It's crucial for project managers to use the correct formula to ensure accurate risk analysis and project planning.
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