PERT

The program (or project) evaluation and review technique, commonly abbreviated PERT, is a statistical tool, used in project management, which was designed to analyze and represent the tasks involved in completing a given project. First developed by the United States Navy in the 1950s, it is commonly used in conjunction with the critical path method (CPM).

Program evaluation and review technique

     The Navy's Special Projects Office, charged with developing the Polaris-Submarine weapon system and the Fleet Ballistic Missile capability, has developed a statistical technique for measuring and forecasting progress in research and development programs. This program evaluation and review technique (code-named PERT) is applied as a decision-making tool designed to save time in achieving end-objectives, and is of particular interest to those engaged in research and development programs for which time is a critical factor.
     The new technique takes recognition of three factors that influence successful achievement of research and development program objectives: time, resources, and technical performance specifications. PERT employs time as the variable that reflects planned resource-applications and performance specifications. With units of time as a common denominator, PERT quantifies knowledge about the uncertainties involved in developmental programs requiring effort at the edge of, or beyond, current knowledge of the subject — effort for which little or no previous experience exists.
     Through an electronic computer, the PERT technique processes data representing the major, finite accomplishments (events) essential to achieve end-objectives; the inter-dependence of those events; and estimates of time and range of time necessary to complete each activity between two successive events. Such time expectations include estimates of "most likely time", "optimistic time", and "pessimistic time" for each activity. The technique is a management control tool that sizes up the outlook for meeting objectives on time; highlights danger signals requiring management decisions; reveals and defines both methodicalness and slack in the flow plan or the network of sequential activities that must be performed to meet objectives; compares current expectations with scheduled completion dates and computes the probability for meeting scheduled dates; and simulates the effects of options for decision — before decision.

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