PERT (Program Evaluation and Review Technique) was created in 1958 by the United States Navy and Booz-Allen & Hamilton. It's a statistical tool for project management that analyzes tasks in a project. PERT is used for time management, system analysis, and is an evolution of the Gantt chart. It consists of planning, scheduling, and controlling phases and provides estimates for optimistic, pessimistic, and likely timeframes.
CPM (Critical Path Method) stands for Critical Path Method and was developed in 1950 by Morgan R. Walker at Du Pont Company and James E. Kelley at Remington Rand. CPM is an algorithm used to schedule project activities, often paired with PERT. It visualizes the flow and sequence of activities and is valuable for scheduling in libraries and publication operations. PERT/CPM networks have two main components: activities (representing actions and resource consumption) depicted by arrows, and events (beginning and end points) represented by circles.
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