The correct answer is D. PERT, which stands for Program Evaluation and Review Technique. PERT is indeed an event-oriented approach to project management, and it is used to analyze and represent the flow and dependencies of various tasks or activities within a project.

Here’s a detailed explanation of why PERT is the correct answer, followed by explanations of why the other options (CPM, GERT, and WASP) are not correct.

PERT (Program Evaluation and Review Technique):

PERT is a project management tool developed in the late 1950s to handle complex projects like those in the U.S. Navy’s Polaris missile program.

PERT focuses on analyzing and planning projects that involve a high degree of uncertainty and variability in task durations. It uses a probabilistic approach, allowing for a range of possible activity durations and then calculating the expected project completion time.

In PERT, the project is broken down into a network of tasks or activities. Each activity is represented as a node, and arrows between nodes represent dependencies or the sequence of activities.

PERT emphasizes event-oriented scheduling, meaning it focuses on the start and finish points of each activity. This approach allows project managers to deal with uncertainty by considering optimistic, pessimistic, and most likely estimates for activity durations, resulting in a probability distribution for project completion time.

Furthermore, PERT uses a critical path analysis to identify the longest path through the network, which determines the minimum time required to complete the project. It also calculates the slack or float time for non-critical activities, which allows project managers to assess the flexibility in scheduling and resource allocation.

Why PERT is Correct:

PERT is an event-oriented approach because it focuses on the events or milestones that mark the start and finish of each activity within a project. It recognizes the inherent uncertainty in project timelines and accounts for it by using probabilistic estimates.

PERT is particularly suitable for projects with complex interdependencies and a need to factor in the variability of activity durations. It provides a comprehensive view of the project’s timeline and critical paths, allowing project managers to make informed decisions and manage resources efficiently.

Why the Other Options Are Not Correct:

A. CPM (Critical Path Method):

CPM is not an event-oriented approach like PERT. Instead, it is a deterministic method that relies on fixed, known durations for activities. CPM identifies the critical path, which is the longest sequence of activities determining the minimum project duration. While it’s related to project management, it does not use probabilistic estimates or event-oriented scheduling like PERT does.

B. GERT (Graphical Evaluation and Review Technique):

GERT is another project management technique, but it’s not primarily an event-oriented approach either. GERT allows for modeling more complex relationships and uncertainties within a project by using probabilistic branching and merging of activities.

However, it doesn’t focus primarily on events or milestones like PERT. GERT is more concerned with modeling uncertainties and complex decision points within the project.

C. WASP (Weighted Average Scheduling Procedure):

WASP is not a widely recognized project management technique. It is possible that it refers to a specific method used in a particular context or industry, but it is not a well-known approach like PERT or CPM. Without more context, it’s challenging to assess its nature and whether it is event-oriented or not.

In summary, PERT is the correct answer because it is a well-established event-oriented approach to project management that focuses on milestones and probabilistic estimates to handle project uncertainties. The other options, CPM, GERT, and WASP, do not fit the description of event-oriented approaches or have limited recognition in the field of project management.