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https://clockify.me/blog/business/make-precise-time-estimates/
The standard deviation formula (SD = (C-A)/6) takes into account only the optimistic and pessimistic time estimates and tells you how accurate your total time estimate really is: SD = (375-225)/6 SD = (150)/6
https://www.mindtools.com/pages/article/newPPM_01.htm
To estimate time effectively, follow this four-step process: Understand what's required. Prioritize activities and tasks. Decide who you need to involve. Do your estimates. Use a variety of methods to get the most accurate time estimates.
https://www.pmi.org/learning/library/five-keys-accurate-project-estimating-6927
Oct 19, 2008 · LOE e means Level-of-Effort Estimate and is defined as the work required to finish a specified project element, expressed in an agreed-upon unit-of-measure (i.e., hours, days, weeks, or months). O e means Optimistic Estimate and is defined by the assumption of only minimal difficulties actually happening; it occurs or is expected to occur, figuratively speaking, approximately 3% of the time.
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