Program Evaluation & Review Technique (PERT) is a method used in Project Management to identify all the activities involved in any project and to find the unpredictable activities that upon the project is dependent and probabilistically define the time scale by the project to finish without any delayed not concern about the project cost.
Critical Path Method (CPM) is also a Project Management technique to identify all the activities involved while preparing a schedule, in any project and based upon this method critical activities can be identify upon which whole project is dependent. The time scale and cost both has to be considered, so that project can finish with expected date and with the allocated budget.
|PERT is used for Non-Repetitive Projects e.g Research Projects||CPM is used for Repetitive Projects e.g Construction Projects, Organizational project management etc|
|PERT is probabilistic (time and cost cannot prospect in advance)||CPM is deterministic (time and cost can be prospect in advance)|
|PERT manages unpredictable activities||CPM manages predictable activities|
|PERT is event oriented||CPM is activity oriented|
|PERT uses three type of time to end of project that is Optimistic time, most likely time & pessimistic time||CPM considered and focus only on time and cost|
This is the most basics differences between PERT & CPM. Watch the Video below you will make understand about how to find the Critical Path in any Project and about Early Start (ES), Early Finish (EF), Late Start(LS) & Late Finish (LF) terminologies with Example.