BMT 13: Critical Path Analysis (HL ONLY)

definition

a management planning tool which serves to improve the efficiency of the production

processes in a project by systematically scheduling all tasks and resources required to complete a project in the minimum amount of time.

free float definition

The free float refers to the amount of time that an activity can be delayed without affecting the EST of the next activity in the project.

free float formula

Free float= ESTof next node - Duration - ESTof current node

total float definition

amount of spare time available to an activity without causing a delay to the overall (total) project.

total float formula

Total Float= LFT - Duration - EST

Dummy activities

logical dependency between two indirectly linked tasks. It is used to prevent an illogical path and is shown by a dotted arrow line in a network diagram

advantages

visual representation of a complex project which can therefore make it easier for people to interpret, such as the management of different resources at different stages of the project.

promotes operational efficiency by identifying the critical path, reduce any lost time between different activities, thereby ensuring the project runs smoothly.

budgeting and better cash flow management

production planning and stock control. Raw materials and components only need to be ordered in time for the EST reduce storage costs.

limitations

Internal and external factors can cause disruptions and delays to the completion of a project.

only useful if the data used to construct the network analysis is accurate and reliable.

determine the quickest time to complete a given project. However, this does not guarantee that the project is the best one to pursue.

if any necessary steps are not identified in the network analysis then the CPA will be

inaccurate.

complex for huge scale project

Project management

planning and coordination of different jobs and tasks for a particular project.