MEANING OF PERT
PERT stands for Programme Evaluation and Review Technique. PERT is event oriented. PERT is a probabilistic model i.e. it takes into account uncertainties involved in the estimation of time of a job or an activity. It uses three estimates of the activity time - Optimistic, Pessimistic and Most Likely. Thus, the expected duration of each activity is probabilistic and expected duration indicates that there is 50% probability of getting the job done within that time.
PERT is primarily concerned with project time. It enables the project manager to schedule and co-ordinate the various activities so that the project can be completed on scheduled time. PERT is generally used for those projects which are not of repetitive in nature (e.g. ...
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