project. To achieve the end of the goal of a project on time,PERT and CPM are two project management techniques that every mangement should implement.
These techniques help in displaying the process and series of action and events of a project.
Meaning of PERT
Program(Project) Evaluation and Review Technique (PERT) is an activity to understand the planning , arranging , scheduling, coordinating and governing of a project.
This program helps to understand the technique of a study taken to complete a project ,identify the least and minimum time taken to complete the whole project.
PERT was developed in 1950s with the aim of the cost and the time of a project.
Advantage of the PERT
- Prt is beneficial for conducted “what if analysis”. By analysing the critical path, the likelihood and different levels of uncertainty can be identified.
- It promotes coordination among various departments of a project .This improved decision making proficiencies and planning.Through coordination, sample data is also available that make it easier for project manager.
- PERT networks allow an analysis of all activities, which tell whether the project will be completed within the budget.
- PERT display the critical path, which identifies activities that cannot be stayed under any condition.
Disadvantages of PERT
- PERT methodologies are entirely dependent on pridiction, which can lead to going overboard on the estimated budge.
- It can be less accurate to implement as there is no data available to model a project since it is only used for non repetive jobs.
- PERT is time focused,and hence, delay in activity can lead to several issues.
Meaning of CPM
Critical path method or CPM is well-known project modelling technique in project management. It is a resource utilising algorithm that was developed in the 1950s by James Kelly and Morgan Walker.
CPM is a mainly used in project to determine critical as well as non critical task that will help in preventing conflicts and reducing bottlenecks.
CPM is about choosing the path in a project that will help in calculating the least amount of time that is required to complete a task with least amount wastage.
The Critical Path Method or CPM has been used in many Industries starting from defence ,construction ,software ,aerospace ,etc.
Advantages of CPM
- Provide an outline for long-term coordination and planning of a project.
- Recognizes critical activities.
- Easy to plan, schedule and control project.
- It improves productivity.
- Manage the resource needed
Disadvantages of CPM
- For beginners its difficult to understand.
- Software too expensive.
- Sometimes, to structure CPM is too time-consuming.
- It cannot control and form the schedule of a person involved in the project.
- Allocation of resources cannot be monitored properly.
Key differences between PERT and CPM
The most important difference between PERT and CPM are provided below-
- 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.
- PERT is a technique of planning and control of time. unlike CPM which is a method to control cost and time.
- While PERT is evolved as a research and development project, CPM evolved as a construction project.
- PERT is set according to events while CPM is aligned towards activities.
- A deterministic model is used in CPM. Conversely, PERT uses a probabilistic model.
- There are three times estimates in PERT i.e ,optimistic time (OT) most likely time, pessimistic time (tp) .On the other hand, there is only one estimates in CPM
- PERT technique is best suited for a high precision time estimate, whereas CPM is appropriate for a reasonable time estimate.
- PERT deals with unpredictable activities, but CPM deals with predictable activities
- PERT is used where the nature of the job is non repetitive. In contrast to, CPM involves the job of repetitive nature.
- There is a demarcation between critical and non critical activities in CPM, which is not in the case of PERT
- PERT is best for research and development projects, but CPM is for non research projects like construction project.
- Crashing is a compression technique applied to CPM, to shorten the project duration along with the last additional cost. The crashing concept is not applicable to PERT.