Teaching Note—Teaching Project Simulation in Excel Using PERT-BetaDistributions

Ron Davis
2008 INFORMS Transactions on Education  
T his paper presents the methodology for computing the correct general formulas for the PERT-beta distribution, and how they are used to carry out stochastic project duration simulations using the built-in tools available in Excel. A comparison with results obtained using the Excel add-ins Crystal Ball, @Risk, RiskSolver, and PopTools is included. Slightly different parameterizations are used by each application, so various forms of the formulas are shown for each case.
doi:10.1287/ited.1080.0013 fatcat:c6b6lqbbkzfq7k42qcxqg56ggy