PERT Chart

AAA

DEFINITION of 'PERT Chart'

A project management tool that provides a graphical representation of a project's timeline. PERT, or Program Evaluation Review Technique, was developed by the United States Navy for the Polaris submarine missile program in the 1950s. PERT charts allow the tasks in a particular project to be analyzed, with particular attention to the time required to complete each task, and the minimum time required to finish the entire project.

INVESTOPEDIA EXPLAINS 'PERT Chart'

A PERT chart is a graph that represents all of the tasks necessary to a project's completion, and the order in which they must be completed along with the corresponding time requirements. Certain tasks are dependent on serial tasks, which must be completed in a certain sequence. Tasks that are not dependent on the completion of other tasks are called parallel or concurrent tasks and can generally be worked on simultaneously. PERT charts are preferable to Gantt charts because they more clearly identify task dependencies; however, the PERT chart is often more challenging to interpret. As such, project managers frequently employ both methodologies.

RELATED TERMS
  1. Gantt Chart

    A Gantt chart is a visual representation of a project schedule. ...
  2. Footprint Charts

    A group of charts that provide price and volume activity together ...
  3. Materials Requirement Planning ...

    One of the first software based integrated information systems ...
  4. Manufacturing Resource Planning ...

    An integrated information system used by businesses. Manufacturing ...
  5. Just In Time - JIT

    An inventory strategy companies employ to increase efficiency ...
  6. Kagi Chart

    A type of chart developed by the Japanese in the 1870s that uses ...
Related Articles
  1. Active Trading Fundamentals

    Simple Moving Averages Make Trends Stand Out

    The moving average is easy to calculate and, once plotted on a chart, is a powerful visual trend-spotting tool.
  2. Charts & Patterns

    The Basic Language Of Candlestick Charting

    If you want to use candlestick charting to get a sense of where a stock is headed, you need to learn how to read this unique charting language.
  3. Charts & Patterns

    Channeling: Charting A Path To Success

    Find out how to build these charts showing buy, sell, stop-loss and take-profit points, and even estimate length of trade.
  4. Active Trading

    Point And Figure Charting Basics

    Learn how to construct and read these price charts designed to highlight entry and exit points for longer-term positions.
  5. Active Trading

    An Introduction To The Relative Strength Index

    Learn the difference between relative strength and the relative strength index, a frequently used technical analysis oscillator.
  6. Forex Education

    An Introduction To Ichimoku Charts In Forex Trading

    Discover how this high-flying application can be used in forex trading.
  7. Forex Education

    Candlestick Charting: Perfecting The Art

    Take a look at continuation patterns and how they can confirm or deny trends.
  8. Forex Education

    Finding Market Movement With The ADX

    Take a closer look at this indicator, which refines your insight into the strength of a prevailing trend.
  9. Trading Strategies

    Find Turning Points With Single-Day Patterns

    On their own, single-day patterns can be unreliable, but that doesn't mean they can't be used effectively.
  10. Forex Education

    Moving Average Bounce

    Find out how this simple trading strategy can be added into your trading arsenal.

You May Also Like

Hot Definitions
  1. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  2. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  3. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  4. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  5. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  6. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
Trading Center