Critical Path Analysis

Critical Path Analysis

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Term2.png CRITICAL PATH ANALYSIS
Mathematically based algorithm for scheduling a set of project activities. It is an important tool for effective project management. Any project with interdependent activities can apply this method of scheduling. The advantages of this techniques are the maximization of the efficiency in the use of time and the generation of cost savings and improvement of the efficiency in the use of resources.

The essential technique for using CPM is to construct a model of the project that includes the following:

  1. A list of all activities required to complete the project,
  2. The time (duration) that each activity will take to completion,
  3. The dependencies between the activities.[1]



References

  1. ↑ Wikipedia (30 June 2008), www.bized.co.uk (1st July 2008)
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