Question: The Program Evaluation and Review Technique (PERT) and the Critical Path Method (CPM) are both valuable project management tools, but they differ in key ways.
The Program Evaluation and Review Technique (PERT) and the Critical Path Method (CPM) are both valuable project management tools, but they differ in key ways. The primary distinction lies in how they handle activity times. PERT is designed for projects where activity durations are uncertain. It uses three time estimatesoptimistic, most likely, and pessimisticto calculate expected activity durations, making it particularly useful for research and development projects where time estimates are not precise (Render et al., 2021). In contrast, CPM assumes that activity durations are known and fixed, making it better suited for projects where activity times are more predictable, such as construction. Additionally, PERT is probabilistic, helping managers understand the likelihood of completing a project by a certain date, while CPM is deterministic, focusing more on finding the critical path to minimize overall project duration. Another difference is that PERT focuses on time management, while CPM integrates both time and cost factors in the planning process. CPM allows project managers to analyze trade-offs between project duration and cost, a process known as "project crashing," which is used to expedite project completion at minimum additional cost (Render et al., 2021). Despite these differences, both methods help project managers optimize scheduling
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
