Meaning of Program Evaluation Review Technique
The Program (or Project) Evaluation and Review Technique, commonly abbreviated PERT, is a model for project management designed to analyze and represent the tasks involved in completing a given project. PERT was developed primarily to simplify the planning and scheduling of large and complex projects. It was able to incorporate uncertainty by making it possible to schedule a project while not knowing precisely the details and durations of all the activities. It is more of an event-oriented technique rather than start- and completion-oriented, and is used more in R&D-type projects where time, rather than cost, is the major factor. PERT uses deterministic networks with mean duratiopns derived from a specialized version of the Beta distribution, the mean duration is set at Expected time (TE): the best estimate of the time required to accomplish a task, assuming everything proceeds as normal (the implication being that the expected time is the average time the task would require if the task were repeated on a number of occasions over an extended period of time). PERT uses deterministic analysis of a network with mean durations derived from a special simplified version of the beta distribution. The mean duration in PERT is foud with the formula T = (L + 4ML + H) รท 6, where T is duration and L, ML and H are the least, most likely and highest deurations assessed by subject matter experts.
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