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

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
PERT deals with events and CPM with activities

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Industrial Engineering and Production Management
The process capability of a machine is defined as the capability of the machine to

Perform definite number of operations
Produce job at a definite spectrum of speed
Holds a definite spectrum of tolerance and surface finish
Produces a definite volume of work per minute

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