PMI - Performing a Critical Path Analysis Flashcards
learn about the critical path method and the use of project schedule network diagrams. You'll explore aspects of planning like total and free float, leads, lags, and forward and backward passes. Finally, you'll learn to properly sequence activities for maximum efficiency and success.
Elements of a typical Project Schedule
List
- Notes
- Task Name
- Duration
- Start Date
- Resource
- Bar Chart (Gantt Chart)
Project Schedule
Definition
A table that identifies what activities need to take place, who is going to perform them, and when they are going to happen. Used to monitor project performance and stay up to date on the status of activities.
Tools and techniques used to develop the Project Schedule
List
- Resource optimization
- Leveling
- Smoothing
- Data analysis
- Critical Path Method
- Critical chain method
- Project management information systems
- Agile release planning
- Leads and lags
- Schedule compression methods- crashing and fast tracking
Resource Optimization - Schedule
Definition
The goal of resource optimization is to ensure that demand doesn’t exceed availability. So you use this technique when resources have been over allocated, are only available at specific times or are limited in numbers.
Leveling - Resource Optimization
Definition
Involves lending some resources from one activity to another. Allocating resources to activities where they are most needed in order to complete the project on time.
Smoothing - Resource Optimization
Definition
Delaying the start of a non-critical activity can help to eliminate a conflict where the same resources needed for two activities at once. The duration of the activity remains unchanged and there is no impact on the resources allotted to the activity. The only change is to the timing of the start of the activity.
Data Analysis - Resource Optimization
Definition
Simulation and what if scenario analysis. Test the feasibility of the draft schedule by assessing a series of worst case scenarios based on the activity assumptions.
Critical Path Method
Definition
use to develop the project schedule, calculate the minimum total project duration based on estimates of how long critical activities will take to complete. In a schedule network diagram, the longest full path linking activities that must be performed in sequence is known as the critical path.
Schedule Network Diagram
Definition
a graphical representation of the logical relationships among the project schedule activities. Use this diagram to identify the critical path and float within the project schedule.
Schedule Network Diagram - Elements
List
- Action Name (middle)
- Action Duration (top middle)
- Early Start Date (top left)
- Early Finish Date (top right)
- Late Start Date (bottom left)
- Late Finish Date (bottom right)
- Float (bottom middle)
Critical chain method
Definition
is related to the critical path method. It uses estimates that are based on limited resource availability to determine a more realistic critical path. Add duration buffers time to the network diagram.
Schedule Network Diagram
- Early Start Date
- Early Finish Date
- Late Start Date
- Late Finish Date
The early start date, the earliest possible start date for each activity to begin.
The early finish date, the earliest date each activity can end.
The late start date the latest possible time for each activity to begin.
Early and late dates can be difference and give the activities Float time so they can be moved within the schedule without pushing out project deadline.
Leads - Schedule
Definition
A lead is when an activity can begin before a predecessor activity is complete. For example, an editor may edit a manuscript chapter by chapter instead of waiting for the entire manuscript to be completed to save time. The start to start relationship between these activities creates a lead.
Lag - Schedule
Definition
A lag, is when successor activity is delayed. For example, if cement must dry before the next scheduled activity can start, the added time between the finish of the predecessor activity to the start of the successor activity represents a lag.
Schedule Compression
Definition
Reducing a project’s duration without changing its scope. Two ways you can do this are known as crashing and fast tracking.