I have discussed many activity on node diagram (AON) methods; e.g. critical path method and critical chain method.
Now is the time to discuss PERT. PERT stands for Program Evaluation and Review Technique (also known as Project Evaluation and Review Technique), is used to analyze the activity when there is no exact duration of activity is known. This technique was developed by the US Navy in 1957.
PERT is a statistical tool, and these days is widely used in project management for developing the project schedule for very large, complex, and one time projects where usually no historical records are available to be reviewed.
At first glimpse, you may think that PERT Diagram Method is similar to the critical path method; however, there are many differences between these two techniques, such as:
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