PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method) are widely used for project scheduling and management. They differ fundamentally in their assumptions about activity durations:
- PERT assumes activity durations are uncertain and hence adopts a probabilistic approach, using three estimates: optimistic, pessimistic, and most likely.
- CPM, on the other hand, assumes activity durations are certain and follows a deterministic approach, with a single fixed time estimate.
Therefore, the correct answer is: PERT: probabilistic, CPM: deterministic.