How Do You Calculate PERT Chart?

What is the formula for calculating pert?

PERT is an estimating technique that uses a weighted average of three numbers (see below) to come up with a final estimate.

The resulting PERT estimate is calculated as (O + 4M + P)/6.

This is called a “weighted average” since the most likely estimate is weighted four times as much as the other two values..

How do you read a PERT chart?

Interpreting PERT Charts The direction of arrows indicates the flow and sequence of events required for project completion. Dotted activity lines represent dummy activities—items that are located on another PERT path. Numbers and time allotments are assigned and shown inside each vector.

How do you use PERT?

5 Steps to Create a Simple PERT ChartBreak your project down into milestones and tasks. … Spot any dependencies. … Plot out your PERT chart. … Add time estimates for each task. … Spot your critical path.

What is PERT chart with Example?

A PERT chart is a visual project management tool used to map out and track the tasks and timelines. The name PERT is an acronym for Project (or Program) Evaluation and Review Technique.

What is difference between PERT and CPM?

PERT is that technique of project management which is used to manage uncertain (i.e., time is not known) activities of any project. … CPM is that technique of project management which is used to manage only certain (i.e., time is known) activities of any project.

Is PERT or CPM better?

PERT is a technique of planning and control of time. Unlike CPM, which is a method to control costs and time. … 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.

What is the difference between Gantt chart and PERT chart?

Essentially, a Gantt chart is a bar chart that lays out project tasks and timelines linearly. … A PERT chart, on the other hand, is structured as a flow chart or network diagram that displays all the project tasks in separate boxes and connects them with arrows to clearly show task dependencies.

How do I create a PERT diagram?

How to develop a PERT chartStep 1: List out your project milestones and tasks. … Step 2: Identify the sequence of those tasks. … Step 3: Determine the time criteria for your tasks. … Step 4: Draw up your PERT diagram. … Step 5: Draw out your critical path. … Step 6: Update your PERT chart as needed.

What is the critical path in a PERT chart?

In project management, a critical path is the sequence of project network activities which add up to the longest overall duration, regardless if that longest duration has float or not. This determines the shortest time possible to complete the project.

What three estimates does the PERT calculation?

There are three estimation times involved in PERT; Optimistic Time Estimate (TOPT), Most Likely Time Estimate (TLIKELY), and Pessimistic Time Estimate (TPESS). In PERT, these three estimate times are derived for each activity.

How do you find the critical path in PERT?

Let’s break down those steps!Divide the Project into Tasks.Order and Identify Dependencies.Create the Network Diagram.Estimate Duration.Perform Resource Leveling.Determine the Critical Path.Tools to calculate critical path.PERT chart for estimating critical path.More items…•

What is PERT and CPM techniques?

PERT and CPM are techniques of project management useful in the basic managerial functions of planning, scheduling and control. PERT stands for “Programme Evaluation & Review Technique” and CPM are the abbreviation for “Critical Path Method”.

Where is PERT and CPM used?

The use of project planning and control techniques based on PERT or CPM are now common in all types of civil engineering and construction work, as well as for large developmental projects such as the manufacture of aircraft, missiles, space vehicles, and large mainframe computer systems.

What is pert model?

Program Evaluation and Review Technique (PERT) is a method used to examine the tasked that are in a schedule and determine a variation of the Critical Path Method (CPM). It analyzes the time required to complete each task and its associated dependencies to determine the minimum time to complete a project.

Why would you use a PERT chart?

PERT charts are generally used before a project begins to plan and determine the duration of each task—so they don’t have to show the actual dates of your project. They also do a better job of showing whether certain tasks need to be completed in order or whether they can be completed simultaneously.

What are the components of a PERT chart?

The most common elements used in a PERT chart are:Activity.Duration time.Early start time.Early finish time.Late start time.Late finish time.Slack.Critical path.

What is optimistic time in Pert?

Optimistic time is a concept used in the program evaluation and review technique (PERT). It represents the shortest estimated time period within which a task is likely to be completed, and is used in project planning.