The 

program evaluation and review technique (PERT) is a statistical tool used in project

management, which was designed to analyze and represent the tasks involved in completing a
given project, especially the time needed to complete each task, and to identify the minimum
time needed to complete the total project. It incorporates uncertainty as it makes possible to
schedule a project while not knowing precisely the details and duration of all the activities. It is more
of an event-oriented technique rather than start- and completion-oriented, and used more in
those projects where time is a major factor rather than cost. It can be applied on very large-scale,
one-time, complex, non-routine infrastructure, Research and Development projects.

It was developed for the U.S. Navy Special Projects Office in 1957 to support the U.S. Navy's Polaris
nuclear submarine project. An early example can be seen when it was used for the 1968 Winter
Olympics in Grenoble

After that it become widely-used in all industries where project management is required, where
management desires to achieve an objective to complete a task within a scheduled time and cost
expenditure; it came into popularity when the algorithm for calculating a maximum value path was
conceived.

PERT is used for conducting the initial planning, controlling, review of a project.

PERT is a very useful device for planning time and resources. - By using the PERT technique, a
manager can identify how many resources are needed for a specific type of project. It shows all of
the events, and tasks within a project through graphical illustration.

It is a significant step forward in the evolution of managerial science.

PERT helps in decision making. - using the PERT technique,it is easy to visualize and analyze all the
possible paths that can save time and to complete the project in the most effective way.

Moreover, it enables the project manager to know the obstacles, and risks that might occur when a
certain path is chosen. It also enables the project manager to know the longest route that a project
will take to be complete
Management science or Managerial Science is the broad interdisciplinary study of problem
solving and decision making in human organizations, with strong links to management,
economics, business, engineering, management consulting, and other fields

Material management is the process of planning, organising, directing and

controlling the flow of materials within an organisation. In the manufacturing
field, material managers perform a vital role in purchasing, obtaining and
maintaining raw materials to use in production processes.
Components of Material Management
 
Materials requirements planning 
This is one of the most important steps in this process, as it accounts for a
major portion of the total investment of money. It directly influences the
profits of an organisation as the number of materials a company procures is
directly proportional to the amount of money it spends. The amount of
materials utilized requires careful planning
Inventory planning and control 
Inventory refers to the different types and volumes of goods a company
holds at a particular time. It may include finished products and raw materials,
items that are ready for the market and materials used in the production
process.
.And over stock and under stock of material management.

The optimum practise of this prices aims to reduce the size of the inventory as
far as possible. This significantly reduces the costs associated with maintaining
an inventory. Professionals in the industry achieve this by purchasing materials
right before production or before moving a product into stores. 
There are three types of inventories: 
 inventory for raw materials 
 inventory for purchased goods 
 inventory for finished parts and components 
this phase helps in reducing WASTAGEs.
Purchasing 
Most companies derive their profits from the economical purchase of various
materials. Sometimes, a company may invest a large portion of its total capital
for purchasing materials. Hence, the primary aim of this process is effective
purchasing. This helps to increase profits by reducing the cost of purchasing. 

Flow and supply of materials 

Material management plays a crucial role in supply chain management.
Material managers try to maintain an uninterrupted supply of materials during
the production process. They distribute these materials to various production
centres. Poor management or lack of inventory disrupts the production
process and the availability of material supplies. Lack of stock can cause
financial losses, delays in sourcing replacement materials and disruption of
production schedules. 
Quality control of materials 
It is Ensuring that the materials used in production are of high quality is crucial.
If the quality of initial raw materials is high, then it reflects in the quality of the
finished products. Hence, it is necessary to source the best materials for any
form of production. There are multiple factors for which professionals may
employ quality control. This may include durability, thermal and weather
performance, dimensions, reliability, and visual appeal. All of these are key
factors that can determine the value of the end product. 
Terminology in PERT.
 Nodes: Nodes represent project events. These events are the large
components that make up the project.
 Tasks: tasks are activites what need to be completed in order for that
nodes to be implemented..
 Arrows are visual representations of the tasks that occur throughout the
project. The direction of the arrow indicates the sequence of the task.
Diverging arrows show that various tasks can be completed at the same
time. 
 Forward pass – It is the process of moving through the project from start
to finish time determining the earliest start and finish times for the
activities of the project. 
 Backward pass – It is the process of moving backward through a project
from finish to start to determine the latest start and finish times for the
activities of the project. 
 Lag time refers to the earliest point at which a task can follow another. 
 Lead time is the amount of time it should take to complete a task
without impacting the other activities. 

 Slack is the amount of time a single task can be delayed without harming
other tasks or the project as a whole.

 Critical path is the longest -- or most time-consuming -- path from the

start to the completion of an event or task.

A PERT chart is a project management tool that shows a graphical

representation of different activities in the timeline. The Program Evaluation
Review Technique breaks down the whole activities in individual tasks of a
project for analysis purposes.
The specific accomplishments in a project, represented by circles in a PERT
chart.
PERT event: a point that marks the start or completion of one or more
activities. It consumes no time and uses no resources.
 PERT activity: the actual performance of a task which consumes time
and requires resources (such as labor, materials, space, machinery). It can
be understood as representing the time, effort, and resources required to
move from one event to another. A
  Critical path: is the longest possible continuous pathway taken from the
initial event to the terminal event. It determines the total calendar time
required for the project; and, therefore, any time delays along the critical
path will delay the reaching of the terminal event by at least the same
amount. 
 critical activity: An activity that has total float equal to zero. An activity
with zero free float is not necessarily on the critical path since its path may
not be the longest. 
 CRITICAL PATH CONDITIONS: 
 Esi=Lfi(Earliest start time= Latest finish time) 
 Esj=Lfj(earliest finish time=latest finish time) 
 Esj-Esi=Lfj-Lfi=Tij(earliest finish time- earliest start time= Latest finish
time- latest start time= total float

PERT has four types of time required to accomplish an activity:  

 optimistic time: It is denoted by a and It is the minimum possible time

required to accomplish an activity (o) or a path (O), assuming everything
proceeds better than is normally expected 
 pessimistic time: It is denoted by P and define as the maximum possible
time required to accomplish an activity (p) or a path (P), assuming
everything goes wrong (but excluding major catastrophes). 
 most likely time: It is denoted by – M - the best estimate of the time
required to accomplish an activity (m) or a path (M), assuming everything
proceeds as normal. 
 expected time: It is denoted by te - the best estimate of the time
required to accomplish an activity (te) or a path (TE), accounting for the fact
that things don't always proceed as normal (the implication being that the
expected time is the average time the task would require if the task were
repeated on a number of occasions over an extended period of time). 

Excepted Time of an activity (te) = (to + 4*tm + tp)/6

Variance: The level of volatility of the time required to carry an activity from the
average time is termed as variance in PERT analysis.
Variance of an activity = (tp-to)^2 / 6
 standard deviation of time : the variability of the time for accomplishing
an activity (σte) or a path (σTE) 

Now, We can see the steps which are required in PERT Technique.
1. The First step is to Identify the activities and milestones.Activites
are the tasks required to complete the project and milestones are
the event marking the the beginning and end of one or more
activities. It is helpful to break all the activities into smaller parts
so that it can be expanded for analysis.
2. Second step is Determining Activity Sequence - This step can
require to determine the exact order of the tasks in which they
must be performed.
3. Third step is to contrust the network diagram – using the
sequence, a network diagram is drawn showing the sequence of
the serial and parallel activities.
4. Fourth step is to estimate the three times, Optimesstic, Most likely
and pessimestic.
Weeks are commonly used unit of time for activity completion,
but any consistent of time can be used.Standard deviation and
variance for each activity are computed. Earliest starting times
and latest finishing times are calculated.Expected time, earliest
starting time, and latest finishing times are marked on the
network diagram.
5. The fifth step to calculate the critical path.Slack is calculated by
The difference in the latest and earliest finish of each activity.The
critical path then is the path which have zero slack and are
identified and marked on the network diagram.
6. The final stepis to update the Pert Chart. Adjustments are made
continuously as the project unfolds, and the estimate times can be
replaced by the actual times.
Role of PERT IN MM

The scheduling of project activities is done easily with the help of the PERT system by the
project manager. This technique is more active in large, sophisticated project works. As
PERT is an event-oriented programming technique, three elements are necessary to define an
event. They are: 
 
 
 
1. What is the time required to perform the event? 
2. What comes after the event? 
3. What is coming before the event? 
The answers to the above question make scheduling easier and clear. 
  
An activity can only be planned if all the items needed for its commencement are either in
stock, ordered and scheduled to arrive before the activity begins, or may be ordered and will
arrive before the activity begins. A project leader, a member of the team or anyone who needs
to know can quickly refer to the chart to see where a project is, how it is coming along and
what stage the project is currently at. This means managing the project is so much easier.
This is perfect, especially when it comes to resource allocation and budget. 
  
 
The PERT method will show the critical path in a well-defined manner. The critical path is
the path with activities that cannot be delayed under any circumstances. Proper knowledge
about the stock values with limited conditions of dependencies will be known. the project
manager to bring fast and quality decisions that will favor the project performance. 
  
The various departments of the organization will deliver data for the PERT activities. Good
integration is developed between all the departments which will help in improving the
planning and the decision-making capabilities of the project team. The combination of
qualitative and quantitative values from a large amount of data will help in improving the
coordination of the project activities. This will also improve communication between various
departments of the organization. 
  
In the event that an activity is scheduled to commence on a given date but not all the
materials required for its execution can be obtained by that date the activity should be
rescheduled to a later feasible date, or some expediting procedure should be implemented. 

ADVAN
1.Probability of finishing a project before a deadline.
 
2.The activities that have slack time can be finished faster and that can lend resources to critical path activities.
 
3. The process of creating a PERT chart also improves communication and allows an organization to focus

its resources on projects that will help it achieve its strategic goals.

DIS ADVAN
1.The activity time estimates are somewhat subjective and depend on
judgement. If the person who has less experience, may have bias in the
estimates.
2.Pert assumes beta distribution for the time estimates but the actual
distribution may be different. PERT takes into account the max time so that if
any activity is delayed along non critical path then also project is delayed.It
consistenty underestimates the expected project completion time.

3.Creating a PERT chart is time-consuming and requires additional resources. Also, in order for the chart to

be useful, it must be reviewed and maintained on a regular basis. 

 
Thankyou for your time and listening patiently