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CPM (Critical Path Method) is considered as an important project management technique that regulates the existing projects, plans, schedules and undertakes new and complex projects for various industrial processes. The technique helps management in controlling the work of the project. CPM has twofold streams, one for industrial process and the other military.
CPM process of computation was designed for the UNIVAC-I computer. In 1958, it was first tested for the construction of a new chemical plant. CPM is a method to determine the smooth functioning of project management. It uses a definite time for each activity. While CPM is the easiest way to understand and use, it does not consider the time variations that can create a great impact on the critical project to complete within the allotted time. Various worldwide researchers are experimenting to come out with tools which would make their work simpler and enjoyable, without getting stressed by constant rushing against cut-off dates and inefficient operation of resources that one finds on their way. A CPM chart indicates the critical path in the processes. This may arise when responsibilities are concluded either following or ahead of schedule, impact directly or indirectly the other tasks which may be on stipulated period to fall on the fresh critical path. It is found that PERT/CPM provides a focus around which business managers could come up with and put their ideas together. CPM has been proved to be a great medium of communication which facilitates thinkers and planners at one level to communicate their ideas, their doubts and fears to another level. Moreover, it is playing a significant role in the business process by evaluating the performance of individuals and teams.
The time for critical path is computed by calculating the time taken by the activities in each series and it is the highest path in the given project. It also helps determining the total schedule time necessary for the completion of the project. Outside the critical path is any activity pop up or slow down in the limited time, the total project time remain the same. Duration of an activity especially that is non-critical can be halt or postponed without putting the project in to a pause is known as slack time. The number of times will be computed by considering the time expected for all the activities related. The starting and finishing times of all activities are resolved by working ahead all the way through the chain of work and finding out the initial time when an action can initiate and end considering its predecessor activities. The latest start and finish times are the times when an activity begins and ends without getting the project delayed.
Functioning of CPM in Various Business Processes: - Helps in planning and controlling business
- To determine the possibility of fulfilling particular deadlines
- Detecting the loopholes in a project
- Review the impact of changes in the time and requirement of the project
- Scrutinizing the outcome of projects getting deviated from the schedule
- Determining the outcome of additional resources to the project
The main purpose of the scheduling stage is to formulate a time schedule depicting the starting and finishing times for the activity and also its relationship to other activities in the project. It gives assurance that the project must be completed within the allotted time to place the project on schedule.
A CPM chart is a visual tool used by the project manager to schedule, organize, and coordinate activities of their project. In every project, a list of project is broken down to be completed in a definite series, which defines the project. Resources are required to complete each task as in terms of money, material, and manpower. The project manager draws out circles or rectangles to represent events - or milestones - in the project. These figures are called Nodes of the CPM chart. The activities which must occur in order to reach a milestone are shown by arrows, and these are known as vectors in PERT/CPM terminology. Nodes are connected by the Vectors, and the sequences of activities are directed by Vectors. Both the Nodes and the Vectors, carrying information, outline the Chart or the Network Diagram.
Benefits of CPM: - Project is completed within the allotted time.
- There is a probability to complete the work before a pre-determined date.
- The activities of critical path have direct impact on the time of completion.
- The activities have drooping time and also can let utilize temporarily the resources to the activities of critical path.
- The date of starting and end of activities.
It is quite obvious for a project manager to get stuck in one single task or activity, or get bogged down with some particular event. There is always the possibility of missing the deadlines. So, to prevent this, one must have to depend on the Critical Path and PERT chart.
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