Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Controlling

Question:
What is the difference in CPM and PERT?
Options:
PERT requires the preparation of three time estimates – optimistic (or shortest time), pessimistic (or longest time) and most likely time. In CPM only two time estimate is prepared.
CPM requires making cost estimates for completion of project but PERT does not require such preparation.
Both 1 and 2
None of the above
Correct Answer:
CPM requires making cost estimates for completion of project but PERT does not require such preparation.
Explanation:
Time estimates are prepared for each activity. PERT requires the preparation of three time estimates – optimistic (or shortest time), pessimistic (or longest time) and most likely time. In CPM only one time estimate is prepared. In addition, CPM also requires making cost estimates for completion of project.