What is PERT CHART TEMPLATE?
A Program Evaluation Review Technique (PERT) chart or a PERT diagram is a tool in project management that allows analyzing, organizing, and tracking the tasks involved in accomplishing a specific project.
It is an acronym for “Program Evaluation Review Technique”. While designing large-scale projects, PERT charts are designed keeping in view the time requirements including shortest and longest durations to complete all the tasks in a project. A popular Project Management approach: PRINCE2 Project Management Templates
In addition to time management, PERT charts also give you a comprehensive visual understanding of inter-task dependencies in a project. It enables you to put together informed decisions, for instance, task sequencing and more.
By utilizing this comprehensive map, all your team can accomplish your goals in optimum time with efficiency and accuracy eliminating confusion, wastage of energy, and time producing better results.
Here is a helpful Project Planning related article with the template: Excel Project Plan Template
What are the Components of a PERT Chart Template?
A basic pert chart must include the features mentioned below;
• NUMBERED NODES
Each node in a PERT template is represented by a numbered rectangular box. Few project managers can replace a rectangle with a circle according to their desire.
Each node indicates a milestone or an event in a project, fulfillment of one stage, or a sequence of successive events required to drive the project ahead.
• DIRECTIONAL ARROWS OR CONCURRENT ARROWS
In the PERT chart, the arrows define the activities or events that are required to be fulfilled before progressing to the next phase or level in the project.
They indicate the direction of the entire project from beginning to end. Directional arrows are used to organize events that possess dependencies. For example, the arrows from nodes 1 to 2 are directional.
You can read a related article and also get the template: Requirement Management Plan Template
• DIVERGENT ARROWS
The events represented by these arrows don’t have dependencies so the team can perform their tasks simultaneously or in their desired sequence.
For instance, after the 2nd node, the team can continue to work on events either leading to the 3rd node or the 4th. They can also accomplish them simultaneously.
However, the only difference in both techniques is in the estimation of project activities completion times. The CPM technique uses a unique deterministic estimate of time, for the whole calculation of critical path, critical and non-critical activities, and slacks.
However, the PERT chart is developed based on special time estimations generated from three different completion estimates of the project tasks.
Here is a related article: Agile Project Plan Template
PERT CHART TEMPLATE IN PROJECT MANAGEMENT
PERT charts are used by project managers to assess and conclude a certain project. It is a good way to be aware of all the events within a project, and to manage it efficiently in terms of resources and time needed for completing the project successfully.
The construction of a PERT chart is critical and requires expertise as an unnoticed error while its construction can lead to chaos and failure of a project. When to build a PERT chart;
• PDF Format
• Project Schedule
• Controlling and Monitoring
• Project Planning Examples
Please read an advanced level article with the template for your project planning: Scope Management Plan Template
Your Project has Numerous Concurrent Parts
While planning complex projects, PERT charts help in ruling out the sense of chaos. As there are multiple events going on simultaneously, the project managers assign specific completion windows and numerous parties to complete them.
A PERT chart will aid you in understanding the dependencies of events on one another and the sequence of their completion.
• TO EVALUATE RESOURCES
Do PERT charts have a unique feature that allows you to evaluate whether a task needs resources or not? This saves time for everyone as the information is upfront and approachable. This chart can easily be shared among the team members to pass on the information.
• TO ESTIMATE TIME
With the aid of a PERT chart, the time duration of an individual task or the entire project can be calculated easily which will let you know whether you and your team can cope up with this obstacle.
PERT AND CPM TEMPLATE
Both of these tools PERT and CPM play a vital role in the project planning phase. These techniques are responsible for the successful organization of a project. CPM stands for critical path method and it appears very similar to the PERT chart but the only difference in these techniques is in the estimation of completion time of the project activities.
CPM involves a unique feature that is a deterministic estimate of time for the entire calculation of critical path, also non-critical and critical activities and slacks. PERT chart, on the other hand, is built according to special time estimations provided from three different completion estimates of the project events.
A PERT chart template has the ability to find the critical path of a project.
Here is a very popular article for you with template download access: Project Management Timeline Template Excel
Q.1. HOW TO CREATE PERT CHART IN EXCEL?
ANS. A PERT chart template excel can be created in Excel by using a text tool whose step-by-step method is described below;
• OPEN EXCEL- On your desktop, launch MS Excel.
• SELECT NEW WORKSHEET- Select a blank worksheet after MS Excel has initiated.
• CREATE PERT CHART- Go to the insert tab in order to create a PERT chart. Then under the text section choose the text box. On the worksheet, select the area where you want to put your text box. Place various text boxes according to your needs and in order of your process sequence. Resize the boxes in accordance with the content you want to write in them.
Please read a helpful article for your Project Plan Management: Project Change Request Template Excel
• ADD DETAILS- In each textbox, add all the text within them carefully and make sure not to omit any important information. Now after displaying all the text in boxes and labeling them, go to the Insert tab, in the illustrations section click on shapes, and choose the arrows to connect your boxes. At this stage, you obtain a basic PERT chart.
• SAVE- After completion of your PERT chart, save it by clicking on the File tab and then choose to save as an option.
Q.2. What is the PERT chart formula?
Ans. Pert Chart is basically used in project planning for the time duration and cost estimation.
You can also read the very helpful article with template download access: Agile Project EstimationTemplate
PERT estimation drive around three activity points, and the formula is;
PERT: E= (O + 4m + P)6
E = Estimate
O = optimistic estimate
P = pessimistic estimate
M = most likely estimate
Q.3. What is the formula of CPM
Ans. The formula of cost per thousand impressions is;
CPM = 1000 * Cost / Impression
Here is the last but not the least important article for you: Project Cost Management Plan Template Excel