Project Management-UNIT FIVE Latest
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PMBOK is not technically a is officially a standard for project
method management that
for project management, but deals with many accepted methodologies.
Project evaluation and review developed in the 1950s to support the U.S.
technique (PERT) Navy's
Polaris missile project. PERT is used to
estimate
activity duration times. It uses a statistical
approach
to estimate the time that will be required to
complete project work activities. PERT
techniques
are recommended by PMBOK when
estimating
activity duration times that vary.
,Critical path method (CPM) was developed for the DuPont Corporation
to help
with projects in their manufacturing plants.
CPM is
also used for estimating project activity
durations,
but CPM assumes that the estimates do
not vary
and time can be reliably estimated. PERT
and CPM
will be further explored later in this course.
, CCPM (Critical Chain Project applies the theory of constraints logic to
Management) project
management by recognizing that the
project can
only be completed if the resource (person,
machine, capital, etc.) capacity is
available. In
CCPM, the work each resource is
expected to
complete is checked to verify that the
resource will
be capable and available when needed.
Time
buffers are built into the schedule to
handle
situations when the critical resources fall
behind or
are not available. focuses on managing the
uncertainties of a project. CCPM assumes
that
resources available to complete the project
are in
limited supply and it specifically plans to
ensure
resource availability.
Premium Exam Questions and Answers with
Verified Solutions | Latest Updated 2026
PMBOK is not technically a is officially a standard for project
method management that
for project management, but deals with many accepted methodologies.
Project evaluation and review developed in the 1950s to support the U.S.
technique (PERT) Navy's
Polaris missile project. PERT is used to
estimate
activity duration times. It uses a statistical
approach
to estimate the time that will be required to
complete project work activities. PERT
techniques
are recommended by PMBOK when
estimating
activity duration times that vary.
,Critical path method (CPM) was developed for the DuPont Corporation
to help
with projects in their manufacturing plants.
CPM is
also used for estimating project activity
durations,
but CPM assumes that the estimates do
not vary
and time can be reliably estimated. PERT
and CPM
will be further explored later in this course.
, CCPM (Critical Chain Project applies the theory of constraints logic to
Management) project
management by recognizing that the
project can
only be completed if the resource (person,
machine, capital, etc.) capacity is
available. In
CCPM, the work each resource is
expected to
complete is checked to verify that the
resource will
be capable and available when needed.
Time
buffers are built into the schedule to
handle
situations when the critical resources fall
behind or
are not available. focuses on managing the
uncertainties of a project. CCPM assumes
that
resources available to complete the project
are in
limited supply and it specifically plans to
ensure
resource availability.
