PERT means Program or Project Evaluation and Review Technique in an activity to understand the planning, arranging, scheduling, coordinating, and governing of a project. This program helps to understand the technique of a study taken to complete a project, identify the least and minimum time is taken to complete the whole project.
In PERT, the project is segregated into events and activities. After discovering a proper sequence, the network is built. It is then the time for each task is calculated, and a path is regulated.
It was developed in the 1950s is an algorithm needed for planning, arranging, scheduling, coordinating, and governing of a project. It is presumed that in this method the activity time is specified and fixed. It is used to calculate the quickest and latest start time for each task.
CPM helps to distinguish the critical and non-critical tasks, reduces the time and bypass the queue formation in the process. It is essential to identify critical activity because if any activity is hindered, it will clutter the whole process.
Difference between PERT and CPM
|Full Form||PERT means Project Evaluation and Review Technique||CPM means Critical Path Method|
|Method||To control time||To control cost and time|
|Progress||Research and development project||Construction project|
|Manage||Unpredictable activities||Predictable activities|
|Appropriate for||Research and Development project||Non-research project. Example-ship building, civil construction|
Advantages of PERT
- Planning for Large Project- It is used in scheduling large project by the project manager
- Visibility of Critical Path- It is used to show the critical path in a clear way. The critical path those paths were activities cannot be paused under any conditions.
- Analysis of Activity- This will provide the management with the progress report and the completion of the project including the budget.
- Coordination Ability-This helps in improving the communication within different departments of the company.
- The What-if Analysis– This analysis benefits the company to recognize the risk linked with any projects.