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ExistentlAngst ExistentlAngst
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6 years ago
A project that consists of six consecutive tasks that have average duration and worst-case duration estimates (in days) as shown in the table. Use Newbold's method to determine the aggregated two sigma buffer for this project.
 
  How does the project buffer computed this way compare with the estimation for project buffer offered by Goldratt?
 
  Activity Average Worst-Case
  A 14 21
  B 20 28
  C 16 23
  D 8 15
  E 9 19
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wrote...
#1
6 years ago
The Newbold estimate is calculated as:

 =

 =

 = = 8.8176

2 = 17.6352

The Goldratt rule of thumb of retaining 50 of the total buffer is (106-67)/2=19.5.
The Goldratt buffer is larger by 1.86 days, thus the Goldratt project is 86.5 days and the Newbold 2 sigma project is 84.63 days.
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