Program Evaluation and Review Technique (PERT)
PERT is an abbreviated form of the Program Evaluation and Review Techniques which is used in project management. This method is used to determine and represent the task of the project in an appropriate way.
In this method generally, we follow two approaches to determine the total time of the project completion and make one is activity on nodes and activity on the arrow. Above diagram is showing the activity on the arrow.
There are six activities A, B, C, D, E and F with five milestones. With the help of this method, we find out the minimum time required to complete the total project. Above chart is a tool used to facilitate the decision making. In this method, we determine three kinds of the time to complete the project namely optimistic time, pessimistic and most likely time to determine the expected time needed to complete the project. There is a relation among this three-time formation which is presented by using formulae.
TE = (O + 4M + P) ÷ 6
Here O is presenting the optimistic time, M is most likely time and P is denoting the pessimistic time to determine the expected time to complete the project. Float or slacks are the excess time that increases the cost of the project and delayed in one activity because of the slack and float delayed the starting of other activity.
To reduce the slack or floats crashing is done which makes relocate the activity which is taking more time and activity those are taking less time are done simultaneously. In crashing, we reduce the total distance of the critical activity which makes optimum utilization of time by rearranging the activities of undertaking project. There is an another
There is an another thing which is also used to reduce the total time of the project known as fast-tracking, in this techniques we perform the critical activity simultaneously.
All these techniques have been developed to reduce the time period to complete the project by rearranging the activities. The purpose of the deploying techniques in the project is to reduce the time so that cost of the project can be reduced and it has been completed within a given period of time.