3.3.4 Critical Path Analysis Flashcards
Critical path analysis
The process of planning the sequence of activities in a project in order to identify the most efficient way of completing an integrated task or project
4 features of a critical path
Nodes, activities, duration, prerequisite
Nodes
Circles representing a point in time, identified by the completion of start of an activity
What do the three splits in the nodes mean
Left: number of node
Right top: earliest start time
Bottom right: latest finish time
Activities
Events of tasks that link to nodes
Duration
The time taken to complete the activity
Prerequisite
The activities that must be completed before the next activity can start
The first node will always have an EST of…
Zero
How do you calculate the EST
Add the duration of an activity to the EST of a previous node
How do you calculate the LFT
Give the last node of the project an LFT, work backwards from right to left, subtract the duration of the activity from the LFT for that activity
Float
The duration an activity can be extended or postponed so that the project still finished within the minimum time as calculated
Formula for float
LFT - ACTIVITY DURATION - EST
critical path
Activities with a float of zero cannot be delayed wifhijr delayinf the entire project. Activities on the critical path have an equal EST and LFT
Strengths of critical path analysis
- helps businesses meet deadlines - especially for time sensitive projects
- some projects are expensive and complex so CPA minimised risk of missing deadline
- allows businesses to plan ahead
Weakness of critical path analysis
- unforeseen incidents can cause delays despite completing CPA
- time consuming to complete
- less necessary if company is experienced in delivering similar projects
- improve efficacy snd reduce time taken to complete a project which in turn reduces costs
