Critical Path Method and Critical Chain Project Management
By Umesh Dwivedi
The project schedule is responsible for bringing project time, cost and quality under control. The project schedule links resources, tasks and time line together. Once a Project Manager has the list of resources, the work breakdown structure (WBS) and the effort estimates, s/he is good to go for planning project schedule. The schedule network analysis helps the Project Manager to prevent undesirable risks involved in the project. The Critical Path Method (CPM) and Critical Chain Project Management (CCPM) are key elements of schedule network analysis. Below is a definition of these elements.
Critical Path Method (CPM)
The Critical Path Method (CPM) is a schedule network analysis technique. CPM was developed by the DuPont Corporation in 1957.Critical path determines the shortest time to complete the project and it is the longest duration path through a network of tasks. Critical tasks (activities) are tasks (activities) on the critical path.
Critical Chain Project Management (CCPM)
The Critical Chain Project Management is a schedule network analysis technique that modifies the project schedule to account for limited resources. It mixes deterministic and probabilistic approaches to schedule network analysis. The critical chain concept was coined by Eliyahu Goldratt.
Umesh Dwivedi is certified PMP (Project Management Professional) from PMI, USA. He is experienced in project planning, execution, monitoring and controlling of projects. He has worked in collaboration with cross-functional, cross-organizational teams for many clients internationally.
Visit his home page at http://www.freewebs.com/umeshspace`.