The Critical Path Method (CPM) in Project Management

Revision as of 14:20, 8 September 2016

According to the Project Management Institute (PMI), project management is the application of knowledge, skills, tools and techniques to project activities in order to meet project requirements and objectives. ^[1] The challenging task of managing projects can be supported by an operation reserach technique called the Critical Path Method (CPM). The CPM is a mathematically-network based algorithm in which can be used for designing, planning, scheduling and monitoring project progress. ^[2]

Overview

Introduction

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Background

Application and use

Methodology

The Project Network

Example

Consdideration of Time-Cost trade-offs

Once the critical path and timeing of activities has been identified - the next question is if it is possible to shorten the project in order to finish within a certein deadline.

Here is maybe possible to do an example of project crashing.

Benefits of CPM in project planning

Limitations of CPM

References

1. ↑ Project Management Institute. (2008). A Guide to the Project Management Body of Knowledge. 4th Edition. p. 6. USA.
2. ↑ Larson, E. W & Gray, C. F. (2014). Project Management - The Managerial Process. 6th edition, p. 161. USA: NY