I.

Defining the Problem

II.

Developing a Model
The PERT, Project Evaluation and Review Technique is a network based
aid for planning and scheduling the many interrelated tasks in large and
complex projects. It is statistical tool used in project management which was
designed to analyze and represent the tasks involved in completing a given
project. PERT uses a network representation to capture the precedence or
parallel relationships among the tasks in the project.
The Pert Network helps to identify the early start, late start and slack
time for each activity and identifies critical path and makes this visible. It can
organize the large amount of data and presented in diagram for decision
making. It also provides probability of completing a project on or before a due
time.
Project Evaluation and Review Technique was based on the estimates
time. The Optimistic Time (a) is the minimum possible time, the Pessimistic
Time (b) is the maximum possible time and the most likely time (m) is the
best estimate time.
The time estimates are statistically distributed by using a beta
distribution.
Mean Time Estimate
(a+4m+b)/6.
Variance of the Time Estimate
[(ba)/6]2
Expected Completion Time
Project Variance
There are assumptions in estimating activity duration especially in
estimating an inexact project which have some error that affects the total
project duration. The activity durations must fit the Beta Distribution and
statistically independent. The range from a to b in the three-estimates

approach covers 6 standard deviations. The critical path has the longest
expected value of the total project time and the overall project duration has a
normal distribution.
III.
IV.
V.
VI.

Acquiring Input Data

Developing a Solution
TEST SOLUTIONS/ANALYZING RESULTS
Implementing the Results