What is Pert chart

PERT Chart
PERT full form as Program Evaluation Review Technique, is the management tool that schedules, coordinates and organizes tasks of the project. Moreover, it gives a visual representation of the timeline of any given project. This visual representation helps the manager break down the separate tasks in the concerned project for the examination.

Working of the PERT (Program Evaluation Review Technique) Chart
This technique was developed in the 1950s by US Navy. They set it for the management of the Polaris Submarine Missile Program. With the help of these PERT charts, the managers can estimate the minimum time needed for the completion of their project. This also helps in analyzing and breaking down the work. This work breakdown helps in the organization of a project. It visualizes the dependencies between all the steps of the project. The project milestones are represented in the form of circles or rectangles (known as nodes) in these PERT chart templates. Lines (known as vectors) connected through these nodes represent the task required to be completed.

For Instance, suppose there is an arrow from Project A to Project B on a given PERT chart. This means that Project A should be completed before starting Project B.

Advantages of the PERT Charts
Program Evaluation Review Technique is the PERT full form that has many advantages.
Some of the primary benefits of PERT charts are as follows:

• It helps evaluate both the time and resources required to manage a project.
• It also helps evaluate or track the assets necessary anytime during the entire project.
• It also provides an analysis of data from different departments of the organization.
• It enables the commitment to essential tasks.
• It also helps in the ‘what-if analysis’ that gives an idea of the probable conditions during the project.

Disadvantages of PERT Charts
Every coin has two sides; similarly, PERT Charts have pros and cons.
Some of these disadvantages of PERT Charts are as follows:

• The success of these PERT charts is highly reliable on the experience of the management.
• There might be unreliable information present in these charts.
• Being deadline focused, these charts do not adequately evaluate the financial positioning of the given project.
• Collecting information required for these PERT charts costs extra time and resources.

What is PERT Chart?
According to the PERT Chart definition, it is the tool or methodology for scheduling, coordinating or organizing the tasks of a project. It helps the management evaluate the approximate time needed for the completion of the project.

What does the PERT chart tell us about?
These charts tell about the minimum required time for the execution or completion of any project. For the evaluation, we need to examine the breakdowns of the project under the concerned, determining the time of these activities, the order of their completion and also the dependencies between the tasks.

State the main elements of the PERT charts?
There are two main elements of any PERT chart. These are as follows:

1. Nodes (representing the milestones or events of the project)
2. Arrows (representing the tasks)

Disclaimer: This content is authored by an external agency. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.

Know More: Pro Rata Definition, Self Employed Definition, Churn Rate Meaning, Oem Definition, Dotcom Definition, Procurement Definition, Working Capital Definition, Ebitda Meaning, Amalgamation Meaning, Goodwill Definition