What is Three Point Estimation

In PMP, the term "Three Point Estimation" is a technique used to estimate the time required for a project based on historical information. This includes:

• Most Optimistic
  Best case scenario in which nothing goes wrong and all conditions are optimal.
  
  
• Most Likely
  The most likely duration and there may be some problem but a lot will go right.
  
  
• Most Pessimistic
  The worst case scenario which everything goes wrong.