Operation Research on Project Evaluation and Review Technique and Critical Path Method : A Novel Study

Due of the growing effects of the globalization in various business environments, the manufacturing industry is expected to be effective and yet efficient. According to this, in planning, scheduling and controlling a project, which is a combination of various activities, project management techniques (PERT and CPM) are used. Therefore, the research question is how will the implementation of CPM and PERT influence the effectiveness and efficiency of Furniture Company. In oder to point out the importance of those methods in reducing the project completion time and costs. The data are taken from the furniture company ''Dallas'' and it will be combined with literature reviews. The research study is fuelled by the following objectives: First is to determine the activities that are involved in the manufacturing process in selected company. Second is to demonstrate the benefits, as well as the drawbacks that those methods might create in the organization. And third is to demonstrate the influence of CPM and PERT in the entire furniture industry and its competitiveness. Implications of this research paper are evaluation of the project completion time and control of the resources, in order to see that the project is completed within the planned time and cost by using mentioned methods. At the end of the study, the result is expected to help all the individuals as well as the companies to understand more the concept of CPM and PERT methods in reducing the project completion time and costs.