The Critical Path Method (CPM) in Project Management

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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. 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 planning, scheduling and monitoring project progress.

The technique developed in late 1950s uses information from a work breakdowm structure (WBS) in a network representation to display interrelationships and dependencies between project activities that must be accomplished to complete a project. The technique is used for analyzing projects by determining the longest sequence of tasks through a project network, that is, the shortest possible time to complete the entire project and to identify which tasks should be concentrated on.

The article includes brief introduction and background of the CPM method in project management will be introduced together with the methodology behind it. An example of the method is carried out step-by-step and a solution presented. Following is a discussion on time-cost trade offs in project acceleration together with an example of project crashing. Lastly, the article ends on a brief summary on the benefits and limitation of the CPM method.

Overview

Introduction

"A project is a sequence of unique, complex, and connected activities that have one goal or purpose and that must be completed by a specific time, within budged and according to specification. "