Term of the Day
Program Evaluation and Review Technique
Program Evaluation Review Technique (PERT) is a project management planning tool is often used by project managers to estimate how much time a specific task within a project will take, and to calculate the amount of time realistically to finish the project. .
PERT charts are used to plan tasks within a project — making it easier to schedule and coordinate team members.
There are three time estimates. They’re optimistic, most likely, and pessimistic. An optimistic estimate identifies the quickest time in which a certain task can be completed. Most likely helps to identify the time between maximum and minimum. Pessimistic is all about estimating the maximum time that each task will take before it can be complete.
Top 5 Terms
Activity Code
Activity Code is an alphanumeric (text, number, or combination of both) unique value assigned to each activity that enables classifying, sorting, ... continue reading
Change Control
The change control process in project management is a process whereby modifications to documents, deliverables, or baseline associated with the project ... continue reading
Acceptance Criteria
A set of specific and defined conditions that are met before deliverables are accepted. They set out the specific circumstances under which the user will ... continue reading
Activity Label
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Project Outcomes
An end result or consequence of a process or project from creating your product or service. Outcomes can include outputs and artifacts and it's important to ... continue reading