Define Optimistic Time, Pessimistic Time, Most Likely Time

Define Optimistic Time, Pessimistic Time, Most Likely Time

Optimistic Time

This is the fastest time an activity can be completed. For this, the assumption is made that all the necessary resources are available and all predecessor activities are completed as planned

Pessimistic Time

This is the maximum time required to complete an activity. In this case, it is assumed that many things go wrong related to the activity. A lot of rework and resource unavailability are assumed when this estimation is derived.

Most Likely Time

This is the fastest time an activity can be completed. For this, the assumption is made that all the necessary resources are available and all predecessor activities are completed as planned.