PERT is an abbreviation of Program Evaluation and Review Technique; It is also known as event-oriented network analysis to estimate different project duration when individual activity duration estimates are mainly uncertain. This technique applies the CPM to a weighted-average duration estimate. PERT is also known as a probabilistic or statistical method.
PERT is similar to CPM and uses the logic network to calculate the project’s completion date or any other event schedule. It is also associated with the different event dates and relies upon uncertainty in the activities’ durations. Its probability depends upon luck in the duration of the actions that mainly lead towards the desirable events.
How does PERT in Critical Path Method work?
It is a probabilistic approach that demands a duration frequency distribution for each particular activity. Its distributions are usually unknown and unavailable because PERT genuinely requires the user to set three different durations that actually constitute practical ranges of duration for each activity. We also need to compute the probabilities with a certain number of events with substantial completion of the building. It majorly occurs through a specific event like the actual completion of a building. It majorly occurs appropriately through a particular date. We attain different accounts for all the preceding events. We begin the project that includes the continuous chain of activities till other substantial completion.
Define Project Evaluation, Review Technique and Critical Path Method
The program Evaluation review technique is mainly explicitly classified as a statistical tool useful in project management. A consistent program evaluation and review technique or PERT genuinely develops to present and analyze a few specific tasks that mainly involve completing your construction project. PERT and CPM get developed within the same time. CPM defines its liability as a Step-by-Step project management system that tends to delineate between critical and non-critical tasks that plan the overall project. The main goal of CPM is to prevent several interruptions in a project that results in scheduling issues.
Pros and Cons of PERT and CPM
Pros of PERT
PERT helps plan a large project, and it is useful in scheduling extensive tasks by a project manager.
PERT also defines and make visible dependencies between the work breakdown structure elements
It also facilitates the identification of early beginning, late start, and slack for each particular task.
In this calculation of time, pessimistic and optimistic time consider in the analysis. It also involves more weightage that delivers the most appropriate time to assist better estimation.
PERT delivers a potential reduction in project duration due to effective understating of dependencies that improve activities’ overlapping.
It helps manage an extensive amount of projects and is displayed in a diagram to make decisions.
PERT also delivers a probability of completion before a specific amount of time.
Cons of PERT
It is not helpful and not easily scalable for smaller projects
Most network charts are comprehensive and demand special size paper.
Time Focused Method: PERT is a time-bound method, and it finishes projects and activities on time and essential.
PERT Project activities do not recognize according to the available data, and it is applicable for new projects only that are repetitive.
PERT mainly doesn’t have any past records for a project framework, resulting in a harmful impact if prediction gets inaccurate.
Pros of Critical Path Method
Delivers an outline for extensive coordination to plan a project.
Expert in recognizing the critical activities
Convenient to plan, schedule, and control the whole project.
Manages the resource demands
Cons of Critical Path Method
People found this project challenging to use.
Also, demand an extensive passage of time to structure CPM
The Critical Path Method is not able to generate or control the schedule of a specific person.
Its resources are not monitored effectively
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