PERT & CPM
PERT and CPM are specially designed for the project management and these are the tools which are organized for the managers in order to encourage them to aim, administer and have command over difficult assignments and projects. PERT are the tools of management which supports the efficient decision making. It includes the diagrams of those activities which flow through a manner. It focuses on the assignments and happenings which are dependent, shows the order of happenings which begin with the beginning of the project and also shows the important direction of project. Boxes display the activities and arrows highlight the connections of various activities. A CPM network is a diagram which is activity oriented but it shows the cost and time regarding the order of activities. The connection and reliance between different activity assignments are clearly shown by both PERT and CPM (Apte, Maglaras, and Pinedo, 2008).
PERT is probability based tool which uses three measurements of period in order to complete the project activities. It is generally an instrument of planning and discipline of time, while CPM is a purposeful tool which has one measurement of period. CPM has the ability to acknowledge the measures of cost with inclusion of time; therefore time and costs both can be controlled by CPM (Krajewski, Ritzman, & Malhorta, 2007).
Projects relevant to R&D, where for the first time a project is carried out and measurements are not predictable, PERT, could be more appropriate. While those projects where time and costs are determined more precisely, CPM could be more appropriate (Schroeder, Goldstein, and Rungtusanatham, 2012).
PERT and CPM are the tools for making predictions and allows managers to forecast the future aspects of process. It gives the managers ability to analyze all the capabilities, disadvantages and unpredictability (Schroeder, Goldstein, and Rungtusanatham, 2012).
References
Apte, U., Maglaras, C. and Pinedo, M. (2008). ‘Operations in the Service Industries: Introduction to the Special Issue’. Production and Operations Management, 17( 2), 235–237
Krajewski, L.J., Ritzman, L.P., & Malhorta, M.K. (2007).Operations management: processes and value chains. New Jersey, USA: Pearson Prentice Hall.
Schroeder, R., Goldstein, S., and Rungtusanatham, M. (2012). Operations management in the supply chain: decisions and cases. New York: McGraw-Hill/Irwin
