Critical path analysis 3.3.4

Question 1

What is critical path analysis?

Answer 1

A project management tool that identifies the most efficient and cost-effective way of completing a complex project

Question 2

What does it involve?

Answer 2

• list of all activities required to complete the project
• the time that each activity will take
• the order the activities must be completed
• the earliest and latest each project can start and finish without delaying completion
  activities that can be completed simultaneously

Question 3

Calculating EST

Answer 3

Working forward from node 1 it is possible to calculate the EST for each activity by adding the duration of each task

Question 4

Calculating LFT

Answer 4

Working backwards from the last node it is possible to calculate the LFT for each activity by subtracting the duration of each task

Question 5

Calculating float time

Answer 5

Float time exists where there is a difference between EST and LFT. Managers may transfer resources as there is extra time to complete these tasks.
Float = LFT- duration - EST

Question 6

Identifying the critical path

Answer 6

If any critical activities are delayed the project as a whole will be delayed. The critical path follows nodes where the EST and LFT are equal.

Question 7

Limitations of Critical Path Analysis

Answer 7

• very complex projects involve a very large number of activities
• network analysis often relies on estimates and forecasts
• does not guarantee success
• resources may not prove to be as flexible when float periods are identified