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Probability Factor Formula

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The probability Factor is a term used to find the probability of a project getting completed in the expected time. Check FAQs

Z = \frac{T s - t e}{σ}

Z - Probability Factor?T_s - Scheduled Time?t_e - Mean Time?σ - Standard Deviation?

Probability Factor Example

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Here is how the Probability Factor equation looks like with Values.

Here is how the Probability Factor equation looks like with Units.

Here is how the Probability Factor equation looks like.

2.0301 = \frac{6.7 - 4}{1.33}

2.0301 = \frac{6.7d - 4d}{1.33}

2.0301 = \frac{6.7 - 4}{1.33}

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Probability Factor Solution

Follow our step by step solution on how to calculate Probability Factor?

FIRST Step Consider the formula

Z = \frac{T s - t e}{σ}

Next Step Substitute values of Variables

∴

Z = \frac{6.7d - 4d}{1.33}

Next Step Prepare to Evaluate

∴

Z = \frac{6.7 - 4}{1.33}

Next Step Evaluate

∴

Z = 2.03007518796993

LAST Step Rounding Answer

∴

Z = 2.0301

Probability Factor Formula Elements

Variables

Probability Factor

The probability Factor is a term used to find the probability of a project getting completed in the expected time.

Symbol: Z

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Probability Factor

Scheduled Time

Scheduled Time is the time which is made as per the experience and practice by the creator of the project.

Symbol: T_s

Measurement: TimeUnit: d

Note: Value should be greater than 0.

Formulas to find Scheduled Time

Mean Time

Mean Time, also called expected time is the time needed to complete an activity.

Symbol: t_e

Measurement: TimeUnit: d

Note: Value should be greater than 0.

Formulas to find Mean Time

Standard Deviation

The Standard Deviation is a measure of how spread out numbers are.

Symbol: σ

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Standard Deviation

Other formulas in Project Evaluation and Review Technique category

Go Mean or Expected Time

t e = \frac{t 0 + (4 \cdot t m) + t p}{6}

Go Optimistic Time given Expected Time

t 0 = (6 \cdot t e) - (4 \cdot t m) - t p

Go Pessimistic Time given Expected Time

t p = 6 \cdot t e - t 0 - 4 \cdot t m

Go Most Likely Time given Expected Time

t m = \frac{6 \cdot t e - t 0 - t p}{4}

How to Evaluate Probability Factor?

Probability Factor evaluator uses Probability Factor = (Scheduled Time-Mean Time)/Standard Deviation to evaluate the Probability Factor, The Probability Factor formula is defined as a term used to find the probability of the occurrence of an event or completion of an event at an expected time. Probability Factor is denoted by Z symbol.

How to evaluate Probability Factor using this online evaluator? To use this online evaluator for Probability Factor, enter Scheduled Time (T_s), Mean Time (t_e) & Standard Deviation (σ) and hit the calculate button.

FAQs on Probability Factor

What is the formula to find Probability Factor?

The formula of Probability Factor is expressed as Probability Factor = (Scheduled Time-Mean Time)/Standard Deviation. Here is an example- 2.030075 = (578880-345600)/1.33.

How to calculate Probability Factor?

With Scheduled Time (T_s), Mean Time (t_e) & Standard Deviation (σ) we can find Probability Factor using the formula - Probability Factor = (Scheduled Time-Mean Time)/Standard Deviation.

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Probability Factor Formula

Probability Factor Example

Probability Factor Solution

Probability Factor Formula Elements

Other formulas in Project Evaluation and Review Technique category

How to Evaluate Probability Factor?

FAQs on Probability Factor

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