I will study the area of construction costs, instead of the durations.

And show how we can use or utilize the PERT method and

technique, and also find the probability in

finishing the project, within certain budget.

And instead of durations,

that we refer to as the Range Estimating.

And in this method, the estimator provides to you

three cost estimates for each construction activity.

And instead of three durations as follows.

The three cost estimates here, similar concept as the PERT.

One, L, we call it here.

Which is the optimistic one.

The most optimistic or, in this case if you want to think about it.

The lowest cost, or the lowest estimate cost that given to you.

The H here, the Pessimistic which is the most Pessimistic or,

in other words the highest.

The highest cost estimate is given for that specific construction activity.