What is the Critical Path Method & Why it Play an Important in Project Management?
Keeping the project
on the timeline is a challenging task and thus to handle Project efficiently,
many organizations use an old tried and tested tool i.e. Critical Path
Method for Planning & monitoring the overall project. The critical
path Method uses a critical path as the sole determinant of a given project’s
time performance and outcome.
What is the Critical Path Method?
Critical Path Method
can be defined as a planning & scheduling method to figure out the total
amount of time with the help of network analysis. In other words, CPM is a set
of actions that are utilized in complicated projects to identify the sequence
that can hamper the project’s timeline and progress.
The prime work on
which the Critical Path Method focuses is the core dependent actions of a
project to make sure that these actions maintain and stay on their schedule,
checks resource availability, and monitor the risk.
Why is Critical Path used?
Critical Path is the
longest pre-calculated path that shows the interdependency relationship with
tasks. No new task can be initiated until the previous one gets accomplished.
This maintains the timelines so that the project end’s before the due date.
Critical Path shows the most important tasks/activities that can hamper the project's deadline. And these activities show the longest duration of the project completion and are beneficial in suitable resource assignment & scheduling.
Steps Used in the
Critical Path Method (CPM)
Step 1: Creates a
list of activities vital for the completion of the project
Step 2: Determines
the sequence of activities/tasks
Step 3: Creates a
network diagram for a better understanding
Step 4: Measures
total time that each activity will take to completion
Step 5: Checks
the dependencies between the tasks
Step 6: Examine the
critical path
Step 7: Update
network diagram post development
Benefits of Critical Path Method in Project Management
Check out other
benefits of Critical path Methods in Project management.
Impressive Management
A large project has
multiple tasks that need management, and with the help of the critical path
method, a project manager can keep a bird’ view on each task. They can easily
determine which tasks are on time and see where delays are imminent or
resources are being wasted. Effective management can keep the project progress
on track, leaving no resources free.
Project Scheduling
The critical path
method efficiently schedules tasks that do not appear on the critical path,
allocates resources with perfection. The critical path method allows you
to deploy more efficient working staff as per your needs & will, resulting
in more productivity and an increase in project development.
Cost Management
The critical path
method is helpful in reducing the extra cost during the project development. It
helps you find out the reason behind the extra expenses and saves capital.
Focus on Important task
The critical Path
method lets you set goals, so that project can be finished on time. In Critical
Path, there are task dependencies, so if there is a delay in any completion of
any task, it will directly impact the overall project development, leading to
more delays, more resource costs.
CPM prioritizes the
tasks so that they can be allocated to the right candidate and get finished on
time.
Bottom-Line
Now you know what is
critical path method is and its importance in Project
management. No doubt Critical path Method is a rigid and strong tool
for planning, scheduling, and handling projects. It offers the development team
a complete idea about the beginning & end date of the completion of
Projects. The majority of organizations widely use the Critical path Method for
successful completion & deliverable of Project. If your organization is not
using CPM, then start using it to meet deadlines.
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