PERT is a visual tool for project planning. It helps organizations to analyze and present the activity and then estimate and evaluate the time it will take to complete the project by the deadlines. Planners can use PERT to identify start and finish dates and reduce time and costs. Their goal was to manage the Polaris submarine missile program. Around the same time, El DuPont de Nemours, an American chemical company, devised a similar approach called Critical Path Method (CPM). CPM determines the longest route to completion, but PERT gives you three time estimates. PERT is a time-cost tradeoff approach, while CPM focuses primarily on time. Project Management Frameworks and Methodologies
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Step 1. Step 1. Step 2. Step 2. You can create a network diagram once you have established the sequence of activities. You can also represent parallel and serial activities in the diagram. Each activity should be represented by a node within the network. Arrows can be used to show relationships between activities. Step 4. Step 4. This model uses three time estimates for each activity. Optimistic time – the shortest time the activity can be completed
The most likely time – The completion time with the highest probability
Pessimistic Time – The longest time the activity can be completed
Once you have identified the time estimates, you will be able to calculate the expected time for each activity using the following weighted Average: Expected Time = (Optimistic + 4x Most likely + Pessimistic). 6 Imagine, for example, that you are building a cottage. Drilling and planting the post takes 7 hours, 10 hours and 12 hours respectively. The optimistic duration is added once, the most likely time is added four times, and the pessimistic duration is added once. The sum is then divided with 6 and the weighted mean is 9,83. This calculation is done for each task. Then, insert the result into the duration column. Step 5. Step 5. The project’s total time is the critical path. The project duration doesn’t change if any activities are added or removed from the critical path. PERT benefits
PERT is at the core of your ability to manage complex and challenging projects, whose goals can be extremely critical. It allows you to determine the fastest route to completion.
