Time and Cost Management Analysis 2022

Running head: PROJECT SCOPE, TIME AND COST MANAGEMENT
SBM1201: PROJECT SCOPE, TIME AND COST
MANAGEMENT
Name of the Student
Name of the University
Author Note

PROJECT SCOPE, TIME AND COST MANAGEMENT
1
The week discussed about PERT analysis and the benefits in project development
process. With the use of proper PERT analysis it becomes easy to manage the data sets. A PERT
analysis is the acronym that is used for project evolution and review techniques. This is a
program network evaluation method that is used for planning and controlling the large project.
However in order to calculate the data, it is important to provide proper improvement. With the
help of PERT it becomes easy to manage the actions and the associated arrangement. PERT
plays a crucial role in project management planning as this helps in calculating the amount of
time that will be needed for finishing a project efficiently (Kerzner 2019).
According to the author Mohamed et al. (2017), PERT helps in determining the timeline
and the overall work that are needed for executing a project efficiently. The key elements that are
associated with PERT chart include event, activity and critical path. These elements are needed
for successfully determining the pert calculation.
There are several benefits that are offered with the use of PERT analysis. According to
the author Chen et al. (2017), the major benefits that are offered with the use of PERT analysis
are that it helps in analyzing the project related activities more efficiently. This allows the project
manager to review all the necessary information that is needed for successfully executing the
project. It has been observed that with the use of proper analysis it becomes easy to execute a
project on time with the pre estimated budget. Secondly, it becomes very easy to coordinate with
the different departments. This improves the planning and decision making process with the use
of proper integration of data sets. PERT activity inter-dependencies will be managed within the
business activities. PERT allows the project activities that are used for the purpose of managing
the data sets.