Basics of PERT (Program Evaluation and Review Technique) | Operation Research | Project Management

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This video is on PERT (Program evaluation and Review Technique). We have studied that there are two types of activities deterministic Activity and variable activity.
To solve the deterministic activity, we have to use Critical path method and to solve variable activity, we have to use PERT (program evaluation and review technique.)dn
In this video we will discuss some basic terms related to PERT (program evaluation and review technique).
We will discuss about optimistic time estimate, pessimistic time estimate and most likely time estimate.
Optimistic time estimate: The minimum time required for completion of the activity as per the predetermined conditions.
Pessimistic time estimate: The maximum time that activity will take under worst conditions.
Most likely time estimate: The time an activity takes if executed under normal conditions.

Basic terms in PERT:
Expected time or average time
Variance
Standard deviation
Probability of competition of project
Watch the video and comment us if you have any doubts.

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