Critical Path Method
Listing Activities
If you want your project to be successful, the first thing you need to do is identify the project activities. Therefore, project teams rely on the Work Breakdown Structure (WBS) to decompose work packages into activities. More specifically, they should define the actions that must be done throughout the project. So project teams should not skip this crucial step. Instead, they should take the time to use the WBS effectively. You may check this post to learn more about the Work Breakdown Structure (WBS).
Determining Dependencies
The project management team identified the activities. The next step is to assess dependencies. In other words, the project management team should prepare a network diagram. A network diagram, also known as a project schedule network diagram, visualizes the sequence of activities required to complete a project. This project management artifact relies on boxes to represent activities. Moreover, it relies on arrows to map dependencies. This diagram can, therefore, show which activities are done in which sequence. The network diagram is a dynamic artifact. It should evolve as more information becomes available. The project management team may need to add, adjust, or remove dependencies. It may also need to adjust the activities’ durations. The network diagram will later be the base for the critical path.
Estimating Durations
The project management team identified and sequenced activities. The next step is, therefore, to estimate the duration of each activity. There are several methods that the team can use to achieve this. For example, it can rely on expert judgment, analogies, benchmarks, and parametric modes. With accurate duration estimates, team members can therefore allocate resources effectively. They may also make better decisions. Don’t underestimate the importance of quality estimates to successful project completion!
Determine the Critical Path
The project management team identified, sequenced, and estimated activities. The next step is, therefore, to determine the critical path.
The following table includes an example of a set of activities, dependencies, and durations.
Assessing Floats
Slack, also known as float, is the amount of time that an activity can be delayed without delaying the project. In other words, it expresses the activity’s schedule flexibility. A critical activity does not have schedule flexibility. For example, activity G is critical because its earliest dates match its latest dates.
Concurrently, some activities are not critical because they have slack. In other words, a delay in this activity does not necessarily lead to an overall schedule delay. For example, activity C is not critical because its earliest dates do not match its latest dates.
Compressing the Schedule
Projects exist within constraints that limit project decisions. For example, senior management often imposes schedule deadlines that may lead to schedule compression. In this section we will explore alternative ways to compress the schedule.