Consider the following statements regarding project management:

1. PERT is probabilistic and CPM is deterministic.

2. In PERT, network slack on various events is calculated, whereas in CPM, floats are calculated.

3. In PERT, activity duration is normally distributed and project duration is beta distributed.

4. The critical path of a network is the path that takes the shortest time.

Which of the given statements are INCORRECT?

Explanation:

• A project may be defined as a combination of interrelated activities which must be executed in a certain order before the entire task can be completed.
• The aim of planning is to develop a sequence of activities of the project so that the project completion time and cost are properly balanced.
• To meet the objective of systematic planning, the management has evolved several techniques applying network strategy.
• PERT (Programme Evaluation and Review Technique) and CPM (Critical Path Method) are network techniques which have been widely used for planning, scheduling and controlling the large and complex projects.
• PERT (Project Evaluation and Review Technique) approach takes account of the uncertainties. In this approach, 3-time values are associated which each activity. So it is probabilistic.

• CPM (Critical Path Method) involves the critical path which is the largest path in the network from starting to ending event and defines the minimum time required to complete the project. So it is deterministic.

Difference between PERT and CPM (Critical Path Method)

So, option 3 is correct.