PERT is a popular control method used by organizations. Explain the purpose of PERT analysis, and describe the steps involved in constructing a PERT network. Your explanation should include a discussion of the significance of the critical path in a PERT network.
Purpose of PERT analysis
Program Evaluation and Review Technique (PERT) is a project management technique in which tasks of a project is analyzed and their completion time is estimated in three probabilities i.e. normal, optimistic and pessimistic estimates.
Steps for PERT Network are:
- Analysis and arrangement of activities of a project according to sequence
- Estimation of the time needed to complete in three figures i.e. normal, optimistic and pessimistic estimates.
- On the basis of Step “a” and “b”, a PERT network is drawn
- Identification of the critical path i.e. longest path of the project.
The identification of critical path is important as it gives an idea about the activities which are on critical path. To complete the project on time, the activities on critical path have to complete on time as they are crucial for the timely completion of the project. Project manager focuses on the critical path activities for completion the project on time. Delay in critical path activity will delay the whole project.