Correct Answer - Option 3 : Programme Evaluation and Review Technique
Concept:
PERT stands for "Programme Evaluation and Review Technique". This network model is used for project scheduling.
Difference between PERT and CPM (Critical Path Method)
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PERT
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CPM
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1. Probabilistic approach
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1. Deterministic approach
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2. Three-time estimate
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2. One - time estimate
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3. Event oriented network model
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3. Activity-oriented network model
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4. The slack concept is used
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4. Float concept is used
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5. Project crashing is not possible
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5. Project crashing is possible
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6. Deals with probabilistic time estimates
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6. Deals with deterministic time estimates
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