PERT and
CPM – some important definitions
| Network: |
An illustration of the interdependencies of project tasks |
| Critical Path: |
The longest sequence of tasks in the network |
| Slack: |
Spare of extra time on non-critical paths |
Time Estimates for
Tasks:
| Optimistic |
Assumes everything will go according to plan.
This should happen about 1% of the time. |
| Pessimistic |
Assumes nothing will go according to plan.
This should also occur about 1% of the time. |
| Most
Likely |
Best estimate. This estimate would occur
most often if measured over and over again. |
|
