Project Management - PERT/CPM

Flashcards about project management using PERT/CPM techniques.

What are PERT and CPM?

Quantitative analysis techniques for complex projects; PERT uses three time estimates for probabilistic completion time, while CPM is deterministic. Often considered as one technique: PERT/CPM.

List the six steps of PERT/CPM.

Define the project, develop activity relationships, draw the network, assign time/cost estimates, compute the critical path, and use the network for planning and control.

What questions are answered by PERT?

Whether the project will be completed on time, critical activities, noncritical activities, and probability of completion by a specific date.

Two common techniques for drawing PERT networks are and .

Activity-on-node (AON) and Activity-on-arc (AOA)

The time estimates in PERT are , , and __.

Optimistic time (a), Pessimistic time (b), and Most likely time (m)

The __ is the critical path.

The longest path through the network.

To find the critical path, determine the , , , and for each activity.

Earliest start (ES), Earliest finish (EF), Latest start (LS), and Latest finish (LF)

Latest start time = −

Latest finish time - Expected activity time

Latest finish time = __

Smallest of latest start times for following activities

Slack = , or Slack =

LS − ES, or LF − EF

In the General Foundry example, __ have no slack time and are critical activities on the critical path.

Activities A, C, E, G, and H

In the General Foundry example, the total project completion time is __.

15 weeks

What Figure shows General Foundry's Critical Path

FIGURE 11.6 General Foundry’s Critical Path (A–C–E–G–H)