The current PERT definition is "Program Evaluation and Review Technique." Created by the United States Navy after World War II, PERT has become a popular management strategy for handling large-scale, ...

Large, complex business projects require thousands of separate activities and can cost millions of dollars. With such high stakes, managing these projects poses a challenge to any large organization.

This paper generalizes the approach of activity networks, exemplified by PERT and CPM, to networks in which activites and events occur probabilistically and contain logical relationships of a more ...