This video talks about the most important Tool & Technique of the Develop Schedule-Critical Path Method.
✔️ Check-out our PMP Certification Program: bit.ly/314k5M4
Critical Path Method helps us in arranging the activities based on their dependency and visualization of those activities so that we can identify when the overall work is going to finish. The project comprises of many tasks, some of these can be done parallelly and some cannot be done parallelly. It is difficult to manage what can be done parallelly and what cannot be. Some mechanism is required to arrange activities based on dependencies, critical path method can help in this.
An example of four activities is taken in the video. All these activities are in Finish to Start Relationship (FS)
Here activity B & D can be done in parallel. Calculate Early Start, Early Finish & Late Start and Late Finish of all the activities. The goal of the project is figuring out when earliest the project can finish. A critical path is the longest path and characterized by zero total float on the critical path.
Use the formula Duration= EF - ES or LF - LS. In case of parallel activities, the early finish of Activity taking longer time is considered. What is Late Start & Late finish, keeping the end date of the project as Day 30, how late can the activity be started and how late can it be finished. LS and LF of last Activity are equal to its ES and EF. The float is the flexibility between LF and EF or LS and ES. In this example Activity B has the flexibility of 5 days without any impact on the overall project; the Critical Path here is ACD.
Critical paths may have positive,0, or negative total float depending on the constraints applied. Positive total float is caused when the backward pass is calculated from a schedule. Negative float analysis is a technique that helps to find possible accelerated ways of bringing a delayed schedule back on track.
Click on the link below to join our PMP online course to watch all the videos of PMBOK sixth edition
✔️ Check-out our PMP Certification Program: bit.ly/314k5M4
#PMP #iZenBridge #ProjectManagement #CriticalPathMethod