3.3.4 Critical Path Analysis Flashcards
Define what a critical path analysis is?
techniques using network diagrams to find earliest finish time of a certain project and also to identify delays
What are the 4 areas in which benefit from using Critical path analysis?
efficiency
decision making
time based management
working capital control
How does CPA benefit efficiency? 3
what tasks can be done at same time
delays are shown
avoiding late delivery costs
How does CPA benefit decision making? 2
better way to make decisions and easier to estimate timing
How does CPA benefit working capital control? 2
identifies materials and equipment needed
avoids holding expensive stock
Where on CPA is the earliest start time shown?
top right of the nodes
How do you identify the Critical path?
where the earliest start times and latest finishing times are the same
What is the float time?
amount of time a task can take without delaying whole project
How do you calculate float time?
latest finish time-earliest start time - duration
What is free float?
amount of time task can take without delaying following task
3 limitations to CPA?
uses estimates
resources can be inflexible
it is very complicated
