It seems that every book and every training course will teach you one or the other, but they never discuss both and tell you the pros and cons.
My feeling is that PERT (activity on arrow) is best for the customer since it gives them the key milestones, while CPM (activity on node) is better for the person doing the work since it focuses on the jobs to be done.
PRINCE2 is product based (they have PBS rather than WBSs for example) so they naturally tend towards PERT, which I think is not helpful.
I prefer CPM because it’s what MS Project uses, it is easier to draw (PERT can get very complicated, especially when you need dummy activities), sometimes you don’t have events but you always have tasks to be done (some projects are just a series of tasks one after the other with no particular milestones), and of course the killer reason, you can do CPM charts with post-its, while with PERT you have to move the arrows so you would need fuzzy felt or some such.
Is there an argument in favour of PERT that I have overlooked? Am I missing something great? Or does CPM rule?