Critical path methodology (CPM) is a project management technique used to identify the essential activities and milestones required to complete a given project.
Unlike traditional project management techniques, CPM focuses on “condensing” the project timeline by focusing on the smallest common denominator (i.e. critical path activities) instead of looking at the entire project as one large entity. A critical path is defined as the shortest path between two points in a project network in which all activities must be completed in the exact order and timing as defined.
A key element of CPM is the creation of a project timeline graph. This graph lists the activities of the project in chronological order and indicates the duration of each activity. By looking at this graph, project managers can quickly identify the critical path. This is an important feature of CPM as it helps project managers to ensure that the timing of their project is accurate and that there are few (if any) slippages between activities.
CPM also allows project managers to easily visualize potential inefficiencies in the project. By looking at the timeline graph, project managers can quickly identify activities that might be taking longer than anticipated or those that may be causing bottlenecks. This feature of CPM helps to minimize overall risk in the project by ensuring that resources are utilized efficiently and any problems are identified early on.
Along with helping to manage project timelines, CPM also provides project managers with visibility into the costs associated with various tasks. By looking at the critical path, project managers can easily see the cost of each activity and make informed decisions about which activities are essential and which can be eliminated or postponed. By understanding the cost associated with each activity, project managers can make more accurate budget estimates.
In addition to its timeline and cost benefits, another key advantage of CPM is its ability to identify project dependencies. By creating a project timeline graph, project managers can easily identify the tasks that require input from other departments or tasks that must be completed before other activities can start. This helps to keep the project on track and ensures that all activities are coordinated in the right order.
Overall, CPM is a beneficial tool for managing large projects due to its ability to identify and visualize the critical path, minimize risks, understand dependencies, and control project costs. By using CPM, project managers can ensure that their projects are completed on time and on budget.
