Project management with CPM and PERT methods

The primary purpose of the present undergraduate thesis is to present the methods of CPM and PERT on the Apartments Prebold project. Method CPM, critical path method, is an deterministic method, primarily used for the exact estimation of the duration of each activity. Method PERT, the Program evaluation and review technique, is a deterministic method, but is using a stochastic view on time duration of the activity. Therefore, the point of interest is the interval of activity duration. Every duration is a random variable, distributed by the prescribed distribution. The program Pertmaster, which is based on the PERT method, is described in the next part. In this program the risk analysis is done and the probability of achieving specific project deadlines is defined by using the simulation based on Monte Carlo method. The calculations are checked by the Mathematica program, and a significant impact of the shape parameter modified beta distribution on the results in the Pertmaster program was proved