Program Management ... 

PERT and CPM, acronyms for "program evaluation and review technique" and "critical path method", respectively, are network techniques used to aid in the planning, scheduling, monitoring, and control of activities which are related to each other.

Steps in CPM Project Planning:

  1. Specify the individual activities.
  2. Determine the sequence of those activities.
  3. Draw a network diagram.
  4. Estimate the completion time for each activity.
  5. Identify the critical path (longest path through the network)
  6. Update the CPM diagram as the project progresses.

PERT Terminology:

  • A PERT event.
  • A predecessor event.
  • A successor event.
  • A PERT activity.
  • Optimistic Time.
  • Pessimistic Time.
  • Most likely Time.
  • Expected Time.
  •  Lead Time.
  • Lag Time.
  • Slack.