Pert

PERT has advantages as well as disadvantages, but time has seemingly not diminished its applicability. Planning a major network reveals potential problem areas and interdependent events that are not so obvious in conventional project development methods. One advantage is the three time estimate process, again useful in identifying difficulties as well as more effective interrelated processes. When utilizing the latest computer applications to PERT networks, managers have additional benefits with which to plan. A final advantage is the use of what is termed the management-by-exception principle, whereby data accumulated and analyzed by various means can be applied to the planning and execution of a major project. When managers have used PERT in integrated project management, experience gained is reapplied to future projects, especially in developing bids for project estimates. When appropriate costing techniques are implemented with PERT networking, the project sponsors realize significant financial benefits.
The PERT/cost system was developed to gain tighter control over actual costs of any project. PERT\cost relates actual costs to project costs. Job cost estimates are established from an activity or a group of activities on the basis of a time network. Labor and nonlabor estimates are developed for the network targeting the control of time and costs and identifying potential areas where time and cost can be traded off—all aimed at more effective, efficient project management.
As with all aspects of business, the Internet has become a powerful tool with respect to PERT. Managers can now locate PERT applications on the World Wide Web and apply them directly to the appropriate manufacturing project. In most instances, PERT diagrams are available that eliminate the estimating process and make PERT a more useful and convenient tool.
Clearly PERT is a manufacturing-based project planning and scheduling network. In many instances, managers have attempted to apply... [continues]

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