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PERT
The Program Evaluation and Review Technique (PERT) is considered a project management classic. Besides being one of the original scheduling techniques,* PERT was the first significant project-oriented risk analysis tool. PERT’s objectives included managing schedule risk by establishing the shortest development schedule, monitoring project progress, and funding or applying necessary resources to maintain the schedule. Despite its age (relative to other project risk techniques), PERT has worn well the test of time.
Technique Description
PERT is based on a set of mathematical equations known as Runge–Kutta. Best- and worst-case scenarios are established and weighted against the most likely set of occurrences. Task PERT mean and standard ...
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