What Are Gantt Charts and PERT Charts? in What Way

question 98

Essay

What are Gantt charts and PERT charts? In what way might a PERT chart be a better option than a Gantt chart?

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Definitions:

Actual Costs

The true, total costs incurred for processes or products, including all direct and indirect expenses.

Direct Labor

The wages paid to workers who are directly involved in the production of goods or services.

Time Variance

The difference between actual time taken to perform an activity and the expected time.

Rate Variance

The difference between the actual rate paid for something and the standard or expected rate, often analyzed in budgeting and cost management.