What is the full form of PERT and CPM?

What is the full form of PERT and CPM?

These are PERT and CPM. PERT project management and CPM are two famous managerial techniques. PERT is an abbreviation of the Program Evaluation and Review Technique. CPM is an abbreviation of the Critical Path Method.

What are the similarities and differences between PERT and CPM?

PERT vs CPM

Abbreviation
PERT – Project Evaluation and Review Technique CPM – Critical Path Method
Focus
PERT – The main focus of PERT is to minimise the time required for completion of the project CPM – The main focus of CPM is on a trade-off between cost and time, with a major emphasis on cost-cutting.
Orientation type

What are the advantages of using PERT and CPM?

The techniques of PERT and CPM help greatly in completing the various jobs on schedule. They minimise production delays, interruptions and conflicts. These techniques are very helpful in coordinating various jobs of the total project and thereby expedite and achieve completion of project on time.

Why is Critical Path Method important?

Critical path allows teams to identify the most important tasks in a project. This provides a higher level of insight into your project’s timeline and a correlation between tasks, giving you more understanding about which task durations you can modify, and which must stay the same.

How do you write a critical path method?

There are six steps in the critical path method:

  1. Step 1: Specify Each Activity.
  2. Step 2: Establish Dependencies (Activity Sequence)
  3. Step 3: Draw the Network Diagram.
  4. Step 4: Estimate Activity Completion Time.
  5. Step 5: Identify the Critical Path.
  6. Step 6: Update the Critical Path Diagram to Show Progress.

How is Critical Path calculated?

The network path with longest total duration is the critical path! Critical path is the shortest duration required to complete the project successfully. In our example this is the second path: A -> B -> C -> D -> G -> H, which comes to 49 minutes.

What is the first stage of a project called?

Project Initiation

What are the stages of a project?

The Stages of a Project

  • Definition.
  • Initiation.
  • Planning.
  • Execution.
  • Monitoring & Control.
  • Closure.