Question

Which of the following statement/statements is/are correct?

• A. PERT considers activity time as a random variable
• B. CPM considers a single deterministic time value for the activities
• C. CPM considers trade-off between time and cost
• D. All of the above

Answer 1

Answer:

D. All of the above

CPM considers a fixed time estimate for each activity and focuses on trade-offs between time and cost. PERT, on the other hand, is a stochastic model that considers uncertainty in activity completion time and allows for randomness PERT includes three-time estimates for each activity optimistic time, pessimistic time, and most likely time.