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Title: Mock Test 100 one word answers with analysis

Description : Mock test - 100 one word answers for Group B examination - Consists of Financial Rules, Establishment Rules, Stores & Official language

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PERT & CPM ( Management Accounting )

 PERT & CPM

• PERT Stands for Program Evaluation Review Technique 

 

• Meaning: Concise visualization of all the individual tasks ( or operations) to complete a given Project. 

• Individual tasks divided into i) Events  ii)  Activities 

• All are placed in Sequential Order 

• Various time estimates are prepared for each activity. 

• The Sequence in which the activities are scheduled to be performed to create “PATHS” from the beginning to end of the Project. 

• The time required by the “PATHS” is determined by totaling the time for each activity along the path.   

• Total 3 Estimation Techniques

1. Most Likely (TM)  - Probable duration  

 

2. Optimistic  (TO) – Shortest duration

3. Pessimistic (TP) – Longest duration 

• PERT formulae   =   TO + (4 x TM) + TP / 6 

 

• Example:  TM – 15 days,  TO – 10 days & TP – 25 days          

PERT =  {10 + ( 4 x 15) + 25}  = 10 + 60 + 25 = 95 / 6 = 16 days  

• Critical Path Method (CPM) :  Longest time path through the network will control the schedule for the entire project. 

• PERT & CPM – Both used to scheduling the Organization and coordinating the Project.   

Events	Predecessor
1	-
2	1
3	1
4	1
5	2, 3
6	4, 5

Differences between

PERT	CPM
1.Unpredictable	1. Predictable
2. Non Repetitive	2. Repetitive
3. Suitable for R & D	3. Suitable for Batch Costing  (Rolling stock production)
4.  Time only taken into account. But Cost will not be considered.	4, Both Time & Cost will be  considered
5. Activities represented as Lines & the  Nodes Representing the Branching  Structure	5. Activities are represented as Nodes
6. Total 3 Estimates.  A. Optimistic   B. Pessimistic  C. Most likely	6. Only one estimate i.e., Longest path
7. Only one type of Activity Relationship  i.e., Finish to Start	7. Total 4 types of Activity Relationships.   A. Finish to Start  B. Start to Start C. Finish to Finish  D. Start to Finish

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MCQ Practice 30 AFA 70% CBT 2024 Question Paper

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