The Critical Path Method in project planning
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'''The Critical Path Method''' is a step by step technique that is used to schedule a set of project activities. It analysis what activities are least flexible and the project duration is predicted based on the activities that fall along the critical path. The critical path is the longest sequence of activities in a project plan which must be completed on time in order for the project to complete on the predetermined scheduled date <ref>[http://www.businessdictionary.com/definition/critical-path.html Critical Path, BusinessDictionary, 2016.] </ref>. By delaying an activity on the critical path leads to a delay on the completion time of the entire project as these activities have no slack. Activities along the path cannot start until the predecessor activity is completed. When using CPM to plan a project a graphical diagram is often represented showing how each activity is related to the others <ref>[http://www.businessdictionary.com/definition/critical-path.html Critical Path Method, webopedia, 2016.] </ref>. This method is one of several tools that is important to keep the project on track and is convenient for all forms of projects, including research projects, product development, construction industry, maintenance and many more. | '''The Critical Path Method''' is a step by step technique that is used to schedule a set of project activities. It analysis what activities are least flexible and the project duration is predicted based on the activities that fall along the critical path. The critical path is the longest sequence of activities in a project plan which must be completed on time in order for the project to complete on the predetermined scheduled date <ref>[http://www.businessdictionary.com/definition/critical-path.html Critical Path, BusinessDictionary, 2016.] </ref>. By delaying an activity on the critical path leads to a delay on the completion time of the entire project as these activities have no slack. Activities along the path cannot start until the predecessor activity is completed. When using CPM to plan a project a graphical diagram is often represented showing how each activity is related to the others <ref>[http://www.businessdictionary.com/definition/critical-path.html Critical Path Method, webopedia, 2016.] </ref>. This method is one of several tools that is important to keep the project on track and is convenient for all forms of projects, including research projects, product development, construction industry, maintenance and many more. | ||
| − | A joint venture between the Dupont chemical company and computer firm Remington Rand Univac led to a development of the Critical Path Method in the 1956 to tackle the interrelationships of separate activities within a project schedule | + | A joint venture between the Dupont chemical company and computer firm Remington Rand Univac led to a development of the Critical Path Method in the 1956 to tackle the interrelationships of separate activities within a project schedule <ref>[http://www.businessdictionary.com/definition/critical-path.html History of the Critical Path Method, Kielmas, Maria, 2016.] </ref>. |
In this article the Critical Path Method (CPM) is described, a step by step guidance on how to apply the method is discussed and the tradeoff between cost and time are analyzed. Furthermore, a comparison to other project management techniques is performed and its limitations and advantages are addressed. | In this article the Critical Path Method (CPM) is described, a step by step guidance on how to apply the method is discussed and the tradeoff between cost and time are analyzed. Furthermore, a comparison to other project management techniques is performed and its limitations and advantages are addressed. | ||
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Revision as of 15:12, 10 September 2016
The Critical Path Method is a step by step technique that is used to schedule a set of project activities. It analysis what activities are least flexible and the project duration is predicted based on the activities that fall along the critical path. The critical path is the longest sequence of activities in a project plan which must be completed on time in order for the project to complete on the predetermined scheduled date [1]. By delaying an activity on the critical path leads to a delay on the completion time of the entire project as these activities have no slack. Activities along the path cannot start until the predecessor activity is completed. When using CPM to plan a project a graphical diagram is often represented showing how each activity is related to the others [2]. This method is one of several tools that is important to keep the project on track and is convenient for all forms of projects, including research projects, product development, construction industry, maintenance and many more.
A joint venture between the Dupont chemical company and computer firm Remington Rand Univac led to a development of the Critical Path Method in the 1956 to tackle the interrelationships of separate activities within a project schedule [3].
In this article the Critical Path Method (CPM) is described, a step by step guidance on how to apply the method is discussed and the tradeoff between cost and time are analyzed. Furthermore, a comparison to other project management techniques is performed and its limitations and advantages are addressed.
Contents |
Overview
Introduction to CPM and purpose
History
General methodology
Application
CPM graph box layout
CPM graph creation
Forward pass
Backward pass
Slack calculation
CPM graph and critical path
Cost and time trade off
Advantages of CPM
Disadvantages and limitations of CPM
Conclusion
References
- ↑ Critical Path, BusinessDictionary, 2016.
- ↑ Critical Path Method, webopedia, 2016.
- ↑ History of the Critical Path Method, Kielmas, Maria, 2016.
