Program evaluation and review technique (PERT) is a technique adopted by organizations to analyze and represent the activity in a project, and to illustrate the flow of events in a project. PERT is a method to evaluate and estimate the time required to complete a task within deadlines.
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Come what may, what is PERT used for?
A PERT chart helps a project manager analyze a project's tasks and estimate the amount of time required to complete each task in the project. Using this information, the project manager can estimate the minimum amount of time required to complete the entire project.
Wherefore, what is the PERT formula? The PERT estimate (E) is based on a formula that includes your optimistic time estimate (O), your most likely time estimate (M) and your pessimistic time estimate (P). The basic equation is this: E = (O + 4M +P) / 6 .
Further, what is PERT in easy language?
Program Evaluation Review Technique (PERT) is a project management planning tool used to calculate the amount of time it will take to realistically finish a project. PERT charts are used to plan tasks within a project — making it easier to schedule and coordinate team members.
What is PERT education?
PERT is a statistical management control tool that assesses the reason ableness of plans and schedules and the feasibility of accomplishing tasks in de tail by deadline times. ... The PERT technique must be utilized concurrently and consistently with other aspects of curriculum planning and operational programs.
17 Related Questions Answered
The Pert Technique is a statistical way of representing project milestones as a network diagram. ... It allows the project manager who is often responsible for scheduling, and coordinating a series of complex tasks and activities, the ability to monitor the progress of a project.
The project team includes the project manager and the group of individuals who work together on a project to achieve its objectives. It consists of the project manager, project management staff, and other members who are maybe not directly involved with management but carry out the work related to the project.
PERT is a project management technique, whereby planning, scheduling, organising, coordinating and controlling uncertain activities are done. CPM is a statistical technique of project management in which planning, scheduling, organising, coordination and control of well-defined activities take place.
PERT is that technique of project management which is used to manage uncertain (i.e., time is not known) activities of any project. CPM is that technique of project management which is used to manage only certain (i.e., time is known) activities of any project.
There are three estimation times involved in PERT; Optimistic Time Estimate (TOPT), Most Likely Time Estimate (TLIKELY), and Pessimistic Time Estimate (TPESS). In PERT, these three estimate times are derived for each activity. This way, a range of time is given for each activity with the most probable value, TLIKELY.
A dummy activity is intended to show a path of action in a project activity diagram and is employed when a logical relationship between two activities cannot be linked by showing the use of arrows linking one activity to another.
To start using PERT in Microsoft Project, make sure a project with activities in it is open, and then open the PERT analysis toolbar by selecting View/Toolbars/PERT Analysis. Click the button called PERT Entry Sheet, then click the button called PERT Entry Form. Your screen should look like the one shown here.
PERT is best for research and development projects, but CPM is for non-research projects like construction projects. Crashing is a compression technique applied to CPM, to shorten the project duration, along with the least additional cost. The crashing concept is not applicable to PERT.
Compound Interest: A = P(1 + r. n. )nt. where P is the principal, r is the annual interest rate expressed as a decimal, n is the. number of times per year the interest is compounded, A is the balance after t years.
PERT offers a management tool, which relies "on arrow and node diagrams of activities and events: arrows represent the activities or work necessary to reach the events or nodes that indicate each completed phase of the total project."
A = Pert. Where A is the account balance, P the principal or starting value, e the natural base or 2.718, r the annual interest rate as a decimal and t the time in years.
Other Issues with PERT – This method is highly labor-intensive in nature. As there are chances of an increase in project activities large and complicated networks are developed as many task dependencies come into existence. If two activities share common resources, this technique won't find very apt for the project.
There are some other limitations to PERT:
- Activity times are not stochastically independent.
- The critical path comprises fewer activities than reasonable application of the Central Limit Theorem requires to have the modes of the most likely be credible.
The disadvantages that limit the use of PERT are:
- It cannot effectively handle situations in which two or more projects share available resources.
- It fails when there is a change in the precedence and sequential relationships of project activities.
- It requires a lot of information as input to generate an effective plan.
Projects should be measured on five specific dimensions: efficiency, customer, business-now, business-future, and team success. From these dimensions, business measures, customer measures, and process measures should form the basis for creating various metrics to measure the project manager.
PERT is event oriented. ... PERT is a probabilistic model i.e. It takes into account uncertainties involved in the estimation of time of a job or an activity. It uses three estimates of the activity time – optimistic, pessimistic and most likely.
Crashing an activity (Crashing the network): Reducing the time required to complete an activity (in hopes that this will reduce the completion time of the entire project) by assigning additional resources to that activity but reducing the duration time of the activities on the critical path may change the critical path.