Pert is stand for “Project Evaluation Review Technique”. It is a technique of representing activities of project in its proper sequence & timing. Pert is methodology developed by the U.S. Navy in the 1950s to manage the Polaris submarine missile program.
(2) Predecessor Event: An event that immediately precedes some other event without any intermediate events.
(3) Successor Event: An event that immediately follows some other event without any intermediate events.
(4) Pert Activity: It’s an actual performance of a task. It consumes time, it require resources (such as labors, materials, space, machinery etc).
(5) Optimistic time: The minimum possible time required to accomplish a task assuming nothing goes wrong.
(6) Pessimistic time: The maximum possible time required to accomplish a task assuming everything goes wrong.
(7) Most likely time: The best estimate of the time required to accomplish a task assuming everything goes normal.
Terminologies used in PERT
(1) Pert Event: It is a point that marks the start or completion of one or more tasks. It consumes no time & uses no resources.
(2) Predecessor Event: An event that immediately precedes some other event without any intermediate events.
(3) Successor Event: An event that immediately follows some other event without any intermediate events.
(4) Pert Activity: It’s an actual performance of a task. It consumes time, it require resources (such as labors, materials, space, machinery etc).
(5) Optimistic time: The minimum possible time required to accomplish a task assuming nothing goes wrong.
(6) Pessimistic time: The maximum possible time required to accomplish a task assuming everything goes wrong.
(7) Most likely time: The best estimate of the time required to accomplish a task assuming everything goes normal.
Advantages of PERT:
(1) It helps us to estimate expected project completion time.
(2) It helps us to identify the critical path activities that directly impact the completion time.
(3) The start & end dates of the activities can be determined.
(4) The activities with slack time can be identified.
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