What is PERT and CPM in project management?
IntroductionIf you are in the civil engineering or construction field, you are probably familiar with PERT AND CPM. Even for project planning and control, you are supposed to know about PERT and CPM. Nowadays, they are used widely for project planning and control in large developmental projects. And so this article gives u precise knowledge of PERT and CPM. Show
1. Comparison Chart
2. DefinitionPERT refers to Program (Project) Evaluation and Review Technique. It is generally a visual project management tool that is used in project planning. It involves planning, organizing, integrating, and authorizing uncertain activities. It provides detailed information regarding the project’s tasks, the minimum time required for completing individual tasks, and the average time required to complete the whole project. The variable used in the PERT technique is time. The PERT Analysis shows you the critical path of a project. The critical path is a set of activities that will cause an end date delay of the project if any one of them is not finished on time. Depending on the project, there may be more than one critical path. The Pert method includes uncertainty by making it possible to schedule a project while not precisely knowing all the activities’ details and duration. It is mostly used in projects where time is the major important factor than cost. The United States Navy first developed PERT in 1958. 3. Pert analysisPERT uses a three-point estimation. They are optimistic, Most likely, and pessimistic. Pert method = (1×P 4×M 1×O) /6 Here, we give more importance to the most likely. Also, PERT method = (1×P 4×M 2×O) /7 = (1×P 6×M 1×O) /8 We can also find out the standard deviation in PERT to calculate average variation. Standard deviation = (O – P) /6 To draw a PERT chart, three steps should be followed. The first step is to draw the activities. In the second step, you need to number nodes and prioritize. In the last step, you must add your chart’s duration to determine the critical path on that pert network. CPM full form is the Critical Path Method. In CPM, we are supposed to assume that the project duration is certain. It is generally used to ascertain every activity’s earliest possible starting time. The queue is avoided by differentiating critical and non-critical activities. This also helps in reducing time. Any activity can be treated as a critical activity if any delay of such can delay the whole process. CPM is a project technique developed in the late 1950s by MORGAN R. It is mostly found in construction, research projects, engineering, aerospace, plant maintenance, and software development. A CPM method developed should contain four values. There is a list of activities required to finish the project, the duration of each activity to complete, and any dependencies between the activities and milestones to be achieved. Using this, the longest path from the activities to the milestone or endpoints is found. This process also decides critical activities. It determines the least time to complete the project. 4. Key differencesSome of the major differences between PERT and CPM are given below:
5. Advantages and disadvantagesA PERT chart helps you to create endpoints or milestones of the project. You can also identify any possible obstacles and quickly address them. This is the main PERT advantage. The disadvantage of PERT includes the absence of time focus. A CPM chart gives a precise graphical form of projects. It saves time and helps us compare our current position with the planned one. Coming to the disadvantage of CPM, it will be really hard to estimate the completion time and critical path for huge projects. ConclusionThe difference between PERT and CPM is reduced to a lesser degree. Nowadays, PERT and CPM are used in a complimentary way. Product managers cannot essentially possess a degree in product development. It comes from their experience, background, and various other factors that help them craft new product launch ideas. Continuous interactions with consumers and staying updated after the market requirements are some key aspects considered while developing new business product ideas. These factors will reduce the chances of product failure and increase the chunk of the company’s profits. Interested in learning about Product Management from the best minds in the industry? Check out our Product Management Course. This 6-month-long program takes place online through live instructor-led sessions. It is the only program in India that offers the ‘Bring Your Own Product (BYOP)’ feature so that learners can build their product idea into a full-blown product and go through an entire Product Development lifecycle. Not only this, but this is the only program in India with a curriculum that conforms to the 5i Framework. Post completion, learners receive certification from the Indian Institute of Management, Indore, and also get the opportunity to become a part of the illustrious alumni network. ALSO READ
What is PERT and CPM explain with examples?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.
What is PERT and CPM in software project management?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.
What is CPM in project management?The critical path method (CPM) is a technique where you identify tasks that are necessary for project completion and determine scheduling flexibilities. A critical path in project management is the longest sequence of activities that must be finished on time in order for the entire project to be complete.
What is PERT in project management?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.
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