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T 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.

Teaching Note—Teaching Project Simulation in Excel Using PERT-Beta Distributions