Category: FINANCE VIDEO

This is a part of lecture presented by Dr. Tripti Vijaywargia, Asst. Professor of Biyani Girls College. The video is about Basics of PERT. Before any activity begins related to the work of a project, every project requires an advanced, accurate time estimate. Without an accurate estimate, no project can be completed within the budget and the target completion date. Developing an estimate is a complex task. If the project is large and has many stakeholders, things can be more complex. Therefore, there have been many initiatives, to come up with different techniques for estimation phase of the project, in order to make the estimation more accurate. PERT (Program Evaluation and Review Technique) is one of the successful and proven methods among the many other techniques, such as, CPM, Function Point Counting, Top-Down Estimating, WAVE, etc. PERT was initially created by the US Navy in the late 1950s. The pilot project was for developing Ballistic Missiles and there have been thousands of contractors involved. After PERT methodology was employed for this project, it actually ended two years ahead of its initial schedule.