PROJECT PLANNING METHODS
PERT and CPM are the two most widely used project planning methods. These methods are used either in conjunction with or as a substitute for Gantt charts. Gantt charts are discussed in detail in chapter 14. These methods are better than Gantt charts as they not only illustrate the sequence of activities, but also indicate the relationship of activities that can and cannot be performed simultaneously. PERT and CPM methods provide information about:
- Estimated completion time of the project
- Status of the project whether it is behind, ahead of, or on schedule.
- Expenditure incurred during the project and its comparison with the budgeted amount.
- Whether sufficient resources are available to complete the project on time.
- Activities that are critical for project completion and those which are not critical and can be delayed without delaying the project.
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