Programme Evaluation and Review Technique (PERT) and Critical Path Method (CPM) (part-1)
Programme Evaluation and Review Technique (PERT) and Critical Path Method (CPM) are two techniques that are widely used in planning and scheduling the large projects. A project is a combination of various activities. For example, Construction of a house can be considered as a project. A project is a series of activities directed to accomplishment of a desired objective. construction of a house includes various activities such as searching for a suitable site, arranging the finance, purchase of materials, digging the foundation, construction of superstructure etc. In planning and scheduling the activities of large sized projects, the two network techniques — PERT and CPM — are used conveniently to estimate and evaluate the project completion time and control the resources to see that the project is completed within the stipulated time and at minimum possible cost. Many managers, who use the PERT and CPM techniques, have claimed that these techniques drastically redu...
