A project manager wants to estimate the probability of finishing a project within 9 days. Similar projects typically take 7 days to finish, but can be finished in 5 days given favorable conditions, and can take as long as 12 days (Figure 83, BetaPERT Distribution).
If that distribution is located in cell A1 and a forecast with formula =A1 is created, simulation results show there is about an 87% probability of the project completing within 9 days (Figure 84, Project Duration Based on BetaPERT Distribution).
