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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Decision Analysis_Discussion 5

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Q PERT networks use a simple statistical method to determine the most likely task completion times. Describe how expected activity times and variances can be computed in a PERT network. Describe a situation in which a project manager would choose PERT for her project.

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PERT, which is an abbreviation of “program evaluation and review technique” (PERT), is a tool that helps the managers in various ways to take care of a project. A PERT network can be made based on various activities. It is assumed that the PERT follows the Beta Probability and the expected time and variance are being computed through the two separate formulas (Render, 2018). Expected time = (4+4m+b)/6 Variance = [(b-a)/6]2 Where, a: optimistic time or a time taken by an activity when everything goes well.