3.3.4. Critical Path Analysis

Question 1

CPA

Answer 1

Technique used to plan most time efficient way to complete complex projects. Used to:
-get product to market as quick as possible
-move offices or production to new locations

Question 2

EST

Answer 2

Earliest start time is earliest possible date activity can begin
On top right hand corner of node before each activity
EST of 1st node is always 0.

Question 3

LFT

Answer 3

latest possible date it must be competed to avoid delaying overall project

Question 4

Float time

Answer 4

Float time is shack time available attached to an activity.
LFT of activity-Duration of activity- EST of activity

Question 5

+ves of CPA

Answer 5

-Identifying activities that can be carried out simultaneously shortens overall duration of project.
-Resources needed for activity can be delivered just in time to avoid delays
-Shows ways to avoid delays by allocating extra resources etc

Question 6

-Ves of CPA

Answer 6

-Can give managers false sense of security as it shows what can happen but to hit deadlines work must actually be competed
-Not drawing activity lines could devalue diagrams visual use.
-Diagrams for really compact projects may be unmanageably large.