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

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

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Industrial Engineering and Production Management
Slack represents the difference between the

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

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Industrial Engineering and Production Management
Travel charts provide

The information for changes required in rearranging material handling equipment
An idea of the flow of materials at various stages
A compact estimate of the handling which must be done between various work sections
An approximate estimate of the handling which must be done at a particular station

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