The critical path method provides an up-to-date method of planning. The main advantage of the critical path method are simplicity, flexibility and overall control. It is a most used “tool” for project management.
The path joining of critical events is called critical path of the network. Total project time is the shortest time in which the project can be completed. This is determined by a sequence of activities known as “Critical Path”.
Critical path method is a network technique for planning., execution and control over a project. The use of this technique is useful in analyzing every project in several activity groups and thus tracing the activity points where bottlenecks can actually rise. Application of network planning and scheduling techniques, better describes as Critical Path Method, and Program Evaluation and Review Technique, has immense scope in assisting completion of a project in time and within cost.
Advantages of Critical Path in Project Management
- CPM provides a realistic and scientific basis for achieving project goal and objective taking into consideration both time and resource constraints.
- Cpm provides a clear, concise and easily understandable way of documenting and communicating project project plans, scheduler as well as time and cost elements.
- CPM facilitate the application of the principles of management by identifying the most critical elements in the project.
- In CPM, cost, optimization is given prime importance.