Industrial Engineering and Production Management
A big advantage of PERT over Gantt charts is that in the former case

Early start and late finish of an activity are clearly marked
Interrelationship among activities is clearly shown
Activities and events are clearly shown
Activity times are clear

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Industrial Engineering and Production Management
Slack represents the difference between the

Latest allowable time and the earliest expected time
Proposed allowable time and the earliest expected time
Normal allowable time and the latest expected time
Latest allowable time and the normal expected time

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Industrial Engineering and Production Management
The basic difference between PERT and CPM is that

Guessed times are used in PERT and evaluated times in CPM
Critical path is determined in PERT only
PERT deals with events and CPM with activities
Costs are considered on CPM only and not in PERT

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