Effortlessly estimate your project’s timeline with our PERT time estimate calculator, designed specifically for contractors. Input your optimistic, most likely, and pessimistic time estimates for each task, and the calculator will provide you with an expected completion time, standard deviation, and likelihood of finishing the project within your desired timeframe. Follow the easy steps below and get a clear view of your project’s schedule and potential variations!
Step 1: Choose your preferred time unit (hours, days, months, etc.) for the project tasks.
Step 2: Input the optimistic, most likely, and pessimistic time estimates for each task in the corresponding input fields.
Step 3: Click Calculate to compute the expected completion time, standard deviation, and likelihood of finishing the project within your desired timeframe.
Step 4: Review the results and gain valuable insights into your project’s timeline and potential variations, helping you plan more effectively as a contractor.
Pen & Paper VS. Online PERT Calculator
PERT Formula Example
Suppose a contractor is planning a subdivision that is expected to take 2 years to complete. The project involves developing a new system from scratch, and the team has estimated the following values:
Optimistic estimate (O) = 12 months
Most likely estimate (M) = 18 months
Pessimistic estimate (P) = 24 months
To calculate the estimated time (E) for completing the project, the project manager can plug these values into the PERT formula as follows:
E = (O + 4M + P) / 6 E = (12 + 4 x 18 + 24) / 6 E = 18 months
Therefore, the PERT estimate for completing the project is 18 months.
The project manager can use this estimate to set deadlines, allocate resources, and monitor progress throughout the project.
Improve PERT With Time Tracking
Tracking employees’ time and progress provides a more accurate PERT estimate. It allows project managers to gather real-time data about the time and effort required to complete specific project tasks. Try it today!
Find your probability of completion
Did you see Desired Completion Time?
This feature will calculate your Probability of Completion.
Quickly calculate how probable it is to finish a project on time.
From the above example, if you added “20 Months,”
Probability of Completion = 84.13%