Program Evaluation and Review Technique (PERT)
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Project management has grown in importance recently as firms have realised the necessity for more organised and effective methods of project delivery. In fact, according to the PMI, companies that give project management a high priority enjoy a 35% rise in their project success rates. <ref name="PMI2021"/>. | Project management has grown in importance recently as firms have realised the necessity for more organised and effective methods of project delivery. In fact, according to the PMI, companies that give project management a high priority enjoy a 35% rise in their project success rates. <ref name="PMI2021"/>. | ||
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*The planning process of a project. | *The planning process of a project. | ||
When it comes to project planning, there are a number of steps that must be followed during this process to guarantee that it is finished on schedule and within budget. One such procedure entails defining the activities that form the project, calculating their duration, identifying the connections or relationships between them, drawing a network diagram, identifying the critical path, and balancing the project. | When it comes to project planning, there are a number of steps that must be followed during this process to guarantee that it is finished on schedule and within budget. One such procedure entails defining the activities that form the project, calculating their duration, identifying the connections or relationships between them, drawing a network diagram, identifying the critical path, and balancing the project. | ||
Revision as of 20:03, 4 April 2023
Contents |
Abstract
The focal point of this article will be the Program Evaluation and Review Technique (PERT), which is a project management tool used for the scheduling, coordination and control of complex projects. The U.S. Navy originated PERT in 1958 as a tool for scheduling the development of a complete weapons system [1]. It is a network-based technique that uses a flow diagram to represent the interdependencies of tasks in a project.
After the tool's description, this article's outline will follow with the purpose and advantages of this method. The goal of PERT is to provide project managers with a visual representation of the project timeline and to help identify the critical path and critical tasks, which must be completed on time for the entire project to be on schedule and meet the assigned deadline. In addition, PERT provides project managers with a way to estimate project finalisation time and identify potential bottlenecks and risks in the project itinerary.
Subsequently, this article will thoroughly explain how to use the PERT and when its application will be accurate within the estimation of a project. To build a PERT diagram, specific steps must be followed to allocate resources and ensure that the project stays on track.
On the other hand, PERT also has several limitations that will be covered in this composition. For instance, this method has dependency limitations, meaning that activity durations are assumed to be independent [2]. Despite these disadvantages, which will be addressed below, PERT remains a valuable tool for project management and can be used effectively when its limitations are considered.
Finally, this article will propose new approaches and tools for project estimation that will help overcome the PERT limitations.
Keywords: PERT, project management, tool, tasks, duration, estimation, resources and cost.
Introduction
Project Management
- What is a project?
To better understand what project management entails, the concept of a project should be explained in advance. Therefore, projects can be defined as temporary efforts to create value through unique products, services, and processes (Project Management Institute, 2023) [3]. However, this is a broad definition of the term at hand. When analysed in-depth and broken down into smaller pieces, a project consists of a series of tasks and activities that must be completed in a structured and careful way in order to produce the desired deliverables or outcomes.
- What does project management entail?
Project management is the implementation of knowledge, skills, tools and techniques to the project's tasks, with the purpose of meeting or fulfilling the needs and expectations of the entities and organisations involved in the said project (PMI,2023). To deliver the project on time, within budget, and with the intended quality, entails managing resources, timelines, budgets, and risks. Along with recognising and managing possible risks and impediments that can appear over the project's life cycle, effective project management also includes interacting with and communicating with stakeholders to make sure their demands are addressed.
Project management has grown in importance recently as firms have realised the necessity for more organised and effective methods of project delivery. In fact, according to the PMI, companies that give project management a high priority enjoy a 35% rise in their project success rates. [4].
Planning and estimating in projects
- The planning process of a project.
When it comes to project planning, there are a number of steps that must be followed during this process to guarantee that it is finished on schedule and within budget. One such procedure entails defining the activities that form the project, calculating their duration, identifying the connections or relationships between them, drawing a network diagram, identifying the critical path, and balancing the project.
1. The activities are defined. Identifying the project's activities is the first step in the planning process. In order to do this, the project must be divided into smaller, easier-to-manage tasks or activities.
2. Each activity's duration and cost are estimated. This step comes next after the activities have been defined. It entails estimating the time needed to finish each task, taking into account the resources at hand, the difficulty of the assignment, and the abilities of the team members who will be working on the project. Then, the cost of the activities is estimated based on the previous information.
3. The sequence and connections between activities are identified. Finding the order and connections or relationships between activities comes next, meaning that it is necessary to figure out which tasks can be handled concurrently and which ones require the completion of other tasks.
4. A network diagram is drawn. The following step is to create a project network diagram using the data acquired in the preceding sections. This diagram serves as a visual representation of the project plan and helps in highlighting the connections between the tasks.
5. The duration and critical path are calculated. The longest succession of interdependent tasks that must be finished in order to complete the project on schedule is known as the critical path. Finding the critical path is crucial since it aids in identifying the activities that are most crucial to the project's success and those that have the biggest influence on its time frame.
6. Project balance is achieved. The project team can balance the project after determining the critical path and duration. To guarantee that the project is finished on time and within the allocated budget entails verifying and adjusting the resources and duration of the tasks as the project evolves.
In conclusion, there are various processes involved in the planning process for a project, each of which is essential to its success.
- Estimating.Project Programme. Diagrammatic Techniques
As mentioned in the previous
PERT in project management
Big idea: describe the tool, concept or theory and explain its purpose. The section should reflect the current state of the art on the topic
PERT technique
- Description of the tool
- The tool nowadays
The importance of the use of these tools for the project's success
- Benefits and importance
Application
provide guidance on how to use the tool, concept or theory and when it is applicable
Guide on how to build a PERT
- Steps in applying PERT
Example
- Practice example
- Diagram/Photo
Limitations
critically reflect on the tool/concept/theory and its application context.Discuss your article in the context of key readings/resources provided in class. Substantiate your claims with literature.
Reflection
- What can it do, what can it not do? Disadvantages/limitations of the tool.
- Under what circumstances should it be used, and when not?
- How does it compare to the “status quo” of the standards – is it part of it, or does it extend them?
Conclusion
Annotated bibliography
Provide key references (3-10), where a reader can find additional information on the subject. The article MUST make appropriate references to the and reference material provided in class – either incorporating it as a source, or critically discussing aspects that are missing from it but covered by this article. Summarize and outline the relevance of each reference to the topic (around 100 words per reference). The bibliography is not counted in the suggested 3000 word target length of the article.
References
- ↑ Cottrell Wayne D., SIMPLIFIED PROGRAM EVALUATION AND REVIEW TECHNIQUE (PERT). (Wayne D. Cottrell, Journal of Construction Engineering and Management, 1999),
- ↑ Ernst Roos, Dick den Hertog., A distributionally robust analysis of the program evaluation and review technique, (Roos & den Hertog, European Journal of Operational Research, Elsevier, 2020)
- ↑ Project Management Institute (2023). What is Project Management?. Consulted 16 February 2023 at https://www.pmi.org/about/learn-about-pmi/what-is-project-management.
- ↑ Project Management Institute (2021). Pulse of a Profession. Consulted 4 March 2023 at https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/pulse/pmi_pulse_2021.pdf
