Uncertainty

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A project can be affected by uncertainty.

PERT can be used to manage this uncertainty with specific reference to time. It uses a formula that calculates an expected time for each activity.

Buffering involves adding artificial slack into risky activities, this is basically including some extra time in each of the risky activities ‘just in case’.

Scenario planning involves considering and testing one or more set of circumstances which may occur. It is an alternative approach to mitigating or managing risk which models possible future situations.

PERT, Buffering, and Scenario planning can be used to manage project uncertainty, with specific reference to time.

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