The project management is very demanding task with numerous complex responsibilities. Opportunely, there are a lot of techniques and tools are available to assist in tasks accomplishment and responsibilities execution. For example, some may need a computer with effective software, while in some of the projects the tasks can be management manually. Project managers need to select some techniques and tools for the project management that are more compatible with the style of management. There are some of the tools and techniques that can be use in the project management to optimize the overall operations of the project (Jackline, 2014).

PERT Technique of Portfolio Analysis and Evaluation of Project Management Techniques

        The PERT (Program evaluation and review technique) is a control and planning tool used for controlling and defining the responsibilities necessary for the accomplishment of project.  The PERT charts are frequently used in the project. The PERT is an extensively used technique for development and large-scale projects coordination. PERT is essentially a tool for the management control and planning. It is also known as road map for particular project or program in which the most important elements have been totally recognized, with their equivalent interrelations'¦. The PERT charts are time and again built for a lot of projects, the end date is permanent and service provider has flexibility of front-end. A fundamental PERT-style planning element is to recognize the critical activities. 

Following are some of the main steps involve in PERT planning:

1. Identify the particular milestones and activities. The activities are the project tasks. The milestones in the process are events that mark the start and the ending of all activities.
2. Verify the appropriate activities sequence. This step is connected with above one because the sequence of activity is obvious for tasks. Other responsibilities in the project may need some investigation to resolve the accurate classification in which they must be carried out.
3. Build network diagram. By using the information of the activity sequence, a diagram of the network can be drawn that show the series of parallel and successive activities. Arrowed lines in the diagram stand for activities and circles symbolize the milestones of the project.
4. Estimation time essential for all activities. Weeks are normally used time unit for completion of the activity, but reliable time unit can be utilize. An individual feature of PERT is its aptitude to handle the uncertainty in completion of the activity. For all activities, the model typically comprise three time approximation:
• Most likely time - time of the completion with highest possibility.
• Optimistic time - shortest time to complete an activity.
• Pessimistic time - longest time for an activity to complete.

        Critical Path Technique of Portfolio Analysis and Evaluation of Project Management Techniques

The critical path method is project management technique for planning of all process and defines the non-critical and critical tasks of the project with objective of preventing problems of time -frame and bottlenecks of project process. The critical path method is preferably suitable for projects that consist of a lot of activities that interrelate in a composite manner (Cohen, 2018).

For critical path method implementation, there are quite a few steps that are as follows:

• Define all of the required tasks and organize them in ordered list.
• Create a diagram or flowchart that shows the relationship between different tasks in the project.
• Recognize the non-critical and critical relationships between tasks.
• Find out the projected execution or completion time for all tasks.
• Devise or Locate substitute for the critical paths

In case a critical path is not right away obvious, it might helpful to find out 4 times for all activities (Ray, 2018):

• EF - Earliest Finish time
• LF - Latest Finish time
• ES - Earliest Start time
• LS - Latest Start time

        All of these times can measure by using the anticipated time for the activities. The initial finish and start times of activity are find out by forward working via network and formative the earliest time on which an activity can finish and start bearing in mind its predecessor actions.

References of Critical Analysis of Tools and Techniques of Portfolio Analysis and Evaluation of Project Management Techniques

References

Cohen, Esther. 2018. How to Use the Critical Path Method for Complete Beginners. April 18. https://www.workamajig.com/blog/critical-path-method.

Jackline. 2014. Quality Management Tools And Techniques. July 8. https://www.whizlabs.com/blog/quality-management-tools-and-techniques/.

Proofhub.com. 2018. Project Management Tools and Techniques That Actually Work. October 5. https://www.proofhub.com/articles/project-management-tools-and-techniques.

Ray, Stephanie. 2018. Understanding Critical Path in Project Management. January 3. https://www.projectmanager.com/blog/understanding-critical-path-project-management.

Rever, Harry. 2007. "Quality in project management--a practical look at chapter 8 of the PMBOK® guide." https://www.pmi.org/learning/library/quality-project-management-tools-7177.