How to use PERT, CPM and Standard Deviation Together?

pert cpm

PERT, CPM and Standard Deviation are Related Concepts! What is Critical Path Method (CPM)? Critical Path is the Longest Path in the Project Network. Critical Path represents the Shortest Possible Duration of the project. Critical Path can be determined by applying Critical Path Method (CPM) on the Project Network. How can Critical Path be “Longest” […]

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3-Point Estimate is Different From PERT…

PERT

What is PERT and 3-point Estimate? Estimation is one of the most basic concepts of Project Management. In fact poor and improper estimation is one of the main causes of challenged projects. There are many ways to Estimate. Some of these estimation techniques are specific to an industrial domain like software size estimation techniques. While […]

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Which “Type of Contract” is More Risky?

Contract

Types of Contracts and Risk A Question You are working for a Defense Contractor. Your company is bidding for a Government’s secret project called Project “Hush-Hush”. The Government has decided to outsource this project as a Fixed Price Contract. Who has more Risk for this Project? Defense Contractor Government All Projects are risky. Both Defense […]

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