Program Evaluation And Review Technique Flashcards, test questions and answers
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What is Program Evaluation And Review Technique?
Program Evaluation and Review Technique (PERT) is an important project management tool that is used to analyze and represent the tasks involved in completing a given project. It is used to develop a schedule chart illustrating the duration of each task and its relationship to other tasks. The PERT chart provides an overview of all the activities involved in a project and allows for better management of resources. The technique was developed by the U.S. Navy in 1958 during the development of the Polaris missile system, but it has since been widely adopted by many organizations for use in various types of projects. PERT analysis begins with defining individual tasks required for completion of a given project, such as those related to procurement, installation, testing, etc. These activities are then analyzed according to their time requirements and dependencies on other tasks (i.e., one activity must be completed before another can begin). Based on this information, an accurate estimate of total time needed for completion can be calculated using three estimates: most optimistic (the shortest amount of time), most likely (the expected amount of time), and most pessimistic (the longest amount estimated). An average value calculated from these three estimations is then used as part of PERT analysis calculation process which ultimately produces a reliable timeline for completing the entire project. The benefits offered by PERT include improved resource allocation since it eliminates overlap or inefficient allocation between different activities; better scheduling since it ensures that individual tasks are performed within their assigned timeframe; faster completion due to greater clarity regarding task durations; higher quality results due to improved planning; better coordination between different teams working on the same project; enhanced communication among team members which improves collaboration; reduction in cost associated with delays or unforeseen problems resulting from lack of planning; and increased customer satisfaction due to more accurate delivery timelines being provided at outset. In conclusion, Program Evaluation and Review Technique is an invaluable tool when it comes to managing complex projects effectively while still meeting tight deadlines something that cannot be easily achieved without thorough planning prior undertaking any action steps towards successful completion.