Does anybody know the formula in Risk Analysis for “Calculated Risk Estimate” based on 3-point method in IFS?
For 3 – Point Analysis, Calculated Cost = weighted average of Min, Most Likely and Max
The weighted average is equal to [(Min estimate) x (Analysis Min Weight Factor) + (Most Likely estimate) x (Analysis Norm Weight Factor) + (Max estimate) x (Analysis Max Weight Factor)] / [(Analysis Min Weight Factor) + (Analysis Norm Weight Factor) + (Analysis Max Weight Factor)]
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