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

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

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Industrial Engineering and Production Management
Travel charts provide

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

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