PERT - Project Evaluation & Review Technique(Solved Example) in Project Management | OR

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--------------------------------------------------------------------------------------------- The program (or project) evaluation and review technique (PERT) is a statistical tool used in project management, which was designed to analyze and represent the tasks involved in completing a given project.
Program (Project) Management and Review Technique (PERT) is appropriate for the projects where time needed to complete different activities are not known. On the other hand, Critical Path Method or CPM, is apt for the projects which are recurring in nature.
One key difference between PERT & CPM is, in CPM we only have 1 time estimate for each activity whereas in PERT we have 3 different time estimates per activity since the exact time is not known.
The 3 time estimates per activity in PERT are as follows -
1) Optimistic time (To)
2) Most likely time (Tm)
3) Pessimistic time (Tp)

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