Published by:
Harvard Business Publishing
Length: 10 pages
Topics:
Decision making; Quantitative analysis
Abstract
The critical path method (CPM), one of a variety of quantitative tools for business decision-making, is a simple technique for analyzing, planning, and scheduling large complex projects and for completing them at minimum cost. Analysis by CPM may be applied to a host of projects that have three common characteristics essential for that analysis: the project consists of a well-defined collection of jobs; the jobs may be started or stopped independently of each other, within a given sequence; and the jobs must be performed in technological sequence. A step by step analysis demonstrates critical path scheduling and the process of constructing a graph.
About
Abstract
The critical path method (CPM), one of a variety of quantitative tools for business decision-making, is a simple technique for analyzing, planning, and scheduling large complex projects and for completing them at minimum cost. Analysis by CPM may be applied to a host of projects that have three common characteristics essential for that analysis: the project consists of a well-defined collection of jobs; the jobs may be started or stopped independently of each other, within a given sequence; and the jobs must be performed in technological sequence. A step by step analysis demonstrates critical path scheduling and the process of constructing a graph.