3 Point Test Estimation Techniques | Software Testing

What is 3 Point Techniques?
In three-point estimation, three figures are produced initially for every distribution that is required, based on prior experience or best-guesses.
It is called 3 point estimating because the team member provides their pessimistic, optimistic and best guess estimates for their deliverable. 
The first is a most likely (M)/best guess (BG) which is the average amount of work the task might take if the team member performed it 100 times. The second estimate is the pessimistic (P) estimate which is the amount of work the task might take if the negative factors they identified do occur. The third estimate is the optimistic (O) estimate which is the amount of work the task might take if the positive risks they identified do occur.
Three-point Estimate (E) is based on the simple average and follows triangular distribution.

E = (O + M + L) / 3

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[milopinto]

Superb explanation on 3 point estimate. Very much interesting knowledge.

[dhivyarajshekaran]

Amazing info. Solved my all the doubts.