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How to Write a Good Executive Summary?

The information age has changed the way business plans, project proposals and research reports are distributed and consumed. Today, more and more readers are seeing this content digitally on a screen. And in today's fast-moving world, it is precisely this content that is often lacking.

This method of content consumption increases the risk that important information is lost due to the scanning and scrolling behavior of an online audience.

It is therefore all the more important to create a short and concise summary of the document and give it to the reader as an 'executive summary'.

What Is an Executive Summary?
Why Should you Write an Executive Summary?
How to Write an Executive Summary
What Should Be Included in the Executive Summary?
What You Should Look out for in the Summary
How Do I End an Executive Summary?
Use Templates to List Everything Important in the Executive Summary

⬇️ Bonus: Download our Free Executive Summary Template

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The Business Model Canvas

In two previous articles, the subject of executive summaries has already been discussed in more detail. It was mentioned that business plans are also often presented in a clear and comprehensive form. A well-known example of how to present your business model quickly and easily is the business model Canvas.

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Clear and Efficient Project Communication
Thanks to Good Meeting Minutes

Sooner or later it will hit everyone someday - although not with pleasure: writing the minutes of a meeting. If not clarified beforehand, one of the attendees will be selected to take notes at the beginning of each meeting at the latest. The means of choice are manifold, some still prefer a pen and paper, others use text programs on notebooks or tablets, and others record a meeting without further ado.

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S.M.A.R.T. Goals Provide Structure and Orientation During a Project

Are you overwhelmed at the beginning of a project? Do you find it difficult to increase team productivity? The best way to master project challenges is to set the right objectives. SMART goals offer a reliable structure and clear orientation in your project. They clarify precisely what you want to achieve and help your team stay aligned with the overall business goals. This approach is perfect for smart project initiatives and can be used by managers and employees alike.

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The Ultimate Guide to PERT Charts

Table of Contents
What Is a PERT Chart?
Advantages and Disadvantages of a PERT Chart
The Core PERT Methodology: Time Calculation
How to Create a PERT Chart Step-by-Step
When to Use a PERT Chart vs. Other Tools
Example: Calculating a Task’s Duration with PERT
Practical Tips
Conclusion

What Is a PERT Chart?

A PERT chart (Program Evaluation and Review Technique) is a project management tool designed to visualize the activities in a project, their logical dependencies, and their chronological sequence. It goes beyond the work breakdown structure (WBS) by highlighting not only relationships among tasks but also the sequence in which they should be carried out. This helps project managers identify the critical path (i.e., the sequence of tasks that directly affects the total project duration) and any time buffers (slack).

Why Use a PERT Chart?

• Comprehensive Overview: It forces you to think through the entire project, making hidden or unclear tasks visible.
• Logical and Chronological Structure: It emphasizes the order and dependencies of tasks, which can be critical for more complex or longer-running projects.
• Critical Path Identification: It shows where the tightest constraints lie and which tasks must be closely monitored to prevent delays.
• Time Estimation: By examining earliest start and latest finish times, you can plan more accurately and potentially reduce costs.
• Clear Communication Tool: It offers an easy-to-understand, visual representation of a project’s flow, making it helpful in stakeholder communication.

Tip: Explore the Merlin Project Learning Path for more Project Management Tips & Tricks

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Advantages and Disadvantages of a PERT Chart

Advantages	Disadvantages
The preparation makes it necessary to think through the entire project and not just individual sub-areas. In this way, open points become visible.	The creation is relatively complex.
The network plan creates a meaningful overview of all project activities and their mutual dependencies.	The presentation requires training in order to fully capture the information content.
The plan can be easily updated.	The more detailed the network, the higher the control effort to avoid planning errors.
A relatively exact scheduling and thus cost saving is possible.	The method is oversized for small projects.
Bottlenecks (critical path and buffer) are easy to recognize.
The network can be developed independently of schedule assumptions.
The plan is a clear communication tool for the project managers.

Tip: Net plan technology (including PERT charts) is most beneficial for larger or complex projects. For simpler or shorter efforts, you may find agile PM methods with Kanban boards or Gantt charts more intuitive and less time-consuming to set up.

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The Core PERT Methodology: Time Calculation

A defining feature of the PERT method is its approach to time estimation for tasks. Instead of a single guess, PERT uses three estimates to capture uncertainty:

1. Optimistic (O): Best-case scenario where everything goes smoothly.
2. Most Likely (M): The most realistic expectation under normal working conditions.
3. Pessimistic (P): Worst-case scenario where complications and delays occur.

Using these three estimates, PERT calculates an expected duration (TE) for each activity, typically using the formula:

TE = (O + 4M + P) / 6

You can also calculate the variance or standard deviation for each task to assess the probability of finishing on time, although many modern project management applications (like Merlin Project) handle these calculations automatically.

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How to Create a PERT Chart Step-by-Step

Even though many project management tools automate most steps, it’s essential to understand the underlying process:

1. Identify All Tasks

   • List every activity needed to complete the project.
   • Think in detail about phases or deliverables (consider mindmapping if you need a creative approach).

2. Determine Dependencies

   • Decide which tasks must finish before others can start.
   • Group tasks that can run in parallel.

3. Estimate Durations

   • Use PERT’s three-point estimation (Optimistic, Most Likely, Pessimistic) for a more accurate average.
   • Or define a single duration if you have reliable data on the tasks.

4. Draw the Chart

   • Usually, activities are represented as nodes (boxes).
   • Arrows show dependencies between tasks.
   • Keep the flow logical and chronological.

5. Identify the Critical Path

   • Find the longest sequence of dependent tasks that determines the shortest overall project time.
   • Tasks on the critical path have zero slack.

6. Add Time Buffers

   • Pinpoint tasks that have float (slack) without impacting the overall schedule.
   • Be mindful that delays on critical-path tasks can shift the entire project.

7. Review and Update

   • Keep durations, dependencies, and resources current.
   • Recalculate the critical path whenever there are major project changes.

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When to Use a PERT Chart vs. Other Tools

Modern project management involves numerous methodologies and tools, each serving different project types and sizes:

PERT vs. Gantt

• Gantt Chart: Displays tasks along a time axis, making scheduling and resource allocation straightforward. Perfect for a quick, linear overview.
• PERT Chart: Offers deeper insight into dependencies and helps identify potential delays early on. Ideal for larger, more complex projects.

PERT vs. Kanban

• Kanban: Focuses on workflow and limiting work in progress for continuous delivery, typical in agile or lean settings.
• PERT Chart: Emphasizes sequential planning and critical-path analysis. Best for projects with complex task interdependencies.

PERT vs. Other Agile Methods (e.g., Scrum)

• Scrum: Relies on iterative sprints and daily standups, ideal for evolving requirements.
• PERT Chart: Fits more traditional or hybrid setups where precise scheduling and dependency mapping is crucial.

Key Consideration: PERT can be adapted into hybrid frameworks. Some teams use a PERT chart for overall scheduling and Kanban or scrum boards for daily task management.

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Example: Calculating a Task’s Duration with PERT

Imagine you have a task: Develop Prototype

• Optimistic (O): 5 days
• Most Likely (M): 8 days
• Pessimistic (P): 14 days

Using the PERT formula:

TE = (O + 4M + P) / 6
TE = (5 + 4*8 + 14) / 6
TE = (5 + 32 + 14) / 6 = 51 / 6 ≈ 8,5 days

Thus, you’d plan around 8.5 days for the task. Many project management tools allow you to enter three time estimates and perform these calculations automatically.

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Practical Tips

1. Combine PERT with Software: Tools like Merlin Project automate net plan creation. Focus on tasks, dependencies, and estimates—let the software do the heavy lifting.
2. Use Templates and Views: Many apps provide net plan, mind map, or other view templates. Adapt or reuse them to save time.
3. Start Broad, Then Refine: Don’t go overboard with details initially. Drill down only where it provides real value.
4. Communication Matters: Make sure your team knows how to read and interpret the chart. Provide a legend for PERT-specific symbols.
5. Review Regularly: A PERT chart should be a “living document.” Revisit it whenever major scope or schedule changes occur.

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Conclusion

A PERT chart is far more than a static diagram—it’s a strategic planning tool that helps you conceptualize complex projects, pinpoint the critical path, and incorporate uncertainty into time estimates. While it can require more effort to set up compared to simpler methods like Gantt Charts or Kanban boards, it excels in bringing clarity to large-scale, multifaceted projects.

• For Complex Projects: PERT’s analytical depth justifies its complexity.
• For Smaller Projects: Simpler methods can suffice and be more user-friendly.
• For Hybrid Approaches: Combine PERT for overarching planning with agile or lean tools for day-to-day execution.

With modern software automating the calculations, learning curve, and chart updates, incorporating PERT into your workflow can elevate your project management capabilities.