The PERT method of analyzing project schedules (a stochastic approach that takes statistical variability of activity durations into account)
• Analysis of risks (based on probabilities of occurrence of risk events)
• Statistical methods such as statistical sampling, scatter diagrams, run charts (line graphs to indicate trends) and control charts are also used to track project costs and progress. A plot of cost or schedule index, for example, is a run chart. These statistical methods are useful to assess and improve the stability of project management processes.