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PERT – Program Evaluation and Review Technique Developed by Lockheed Corporation in participation with the US Navy Polaris Missile/Submarine Project in1958
CPM – Critical Path Methoddeveloped by DuPont c.1958
Best Answer: PERT is Program Evaluation Review Technique and CPM is Critical Path Method for network analysis of flow models of a set of operations consisting of definite start and end nodes and fixed activities in between. Both CPM and PERT provide the user with project management tools to plan, monitor, and update their project as it progresses. There are many similarities and differences between the two, however.
Similarities between PERT and CPM:
1. Both follow the same steps and use network diagrams
2. Both are used to plan the scheduling of individual activities that make up a project
3. They can be used to determine the earliest/latest start and finish times for each activity
Differences between PERT and CPM:
1. PERT is probabilistic whereas CPM is deterministic
2. In CPM, estimates of activity duration are based on historical data
3. In PERT, estimates are uncertain and we talk of ranges of duration and the probability that an activity duration will fall into that range
4. CPM concentrates on Time/Cost trade off.
