Question
Download Solution PDFCPM requires
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFExplanation:
A project may be defined as a combination of interrelated activities which must be executed in a certain order before the entire task can be completed.
The aim of planning is to develop a sequence of activities of the project so that the project completion time and cost are properly balanced. To meet the objective of systematic planning, the management has evolved several techniques applying network strategy.
- PERT (Programme Evaluation and Review Technique) and CPM (Critical Path Method) are network techniques widely used for planning, scheduling, and controlling the large and complex projects.
- The PERT (Project Evaluation and Review Technique) approach takes into account of the uncertainties. In this approach, 3-time values are associated which each activity. So it is probabilistic.
- CPM (Critical Path Method) involves the critical path, the largest path in the network from starting to ending event and defines the minimum time required to complete the project. So it is deterministic.
Difference between PERT and CPM (Critical Path Method)
|
PERT |
CPM |
|
1. Probabilistic approach |
1. Deterministic approach |
|
2. Three-time estimate |
2. One-time estimate |
|
3. Event-oriented network model |
3. Activity-oriented network model |
|
4. The slack concept is used |
4. Float concept is used |
|
5. Project crashing is not possible |
5. Project crashing is possible |
|
6. Deals with probabilistic time estimates |
6. Deals with deterministic time estimates |
Last updated on May 19, 2025
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