Question
Download Solution PDFWhich of the following statements is NOT true about critical path method (CPM)?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFConcept:
Critical Path Method (CPM):
- CPM is best suited for repetitive and predictable projects, like construction, maintenance, manufacturing, etc. It assumes known and fixed time estimates, which is not ideal for non-repetitive or highly uncertain projects.
- CPM uses deterministic time estimates (i.e., fixed durations), so it doesn't involve statistical analysis like PERT (which uses probabilistic time estimates).
- CPM helps in time-cost optimization, allowing for crashing of activities to reduce project duration at additional cost.
- Program Evaluation and Review Technique (PERT) is a method used to examine the tasks in a schedule and determine a Critical Path Method variation (CPM). It analyzes the time required to complete each task and its associated dependencies to determine the minimum time to complete a project.
- It estimates the shortest possible time each activity will take, the most likely length of time, and the longest time that might be taken if the activity takes longer than expected. The US Navy developed the method in 1957 on the Polaris nuclear submarine project.
Additional Information
Difference between PERT and CPM
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PERT |
CPM |
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Project Evaluation and Review Technique |
Critical Path Method |
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It is event-oriented. |
It is activity-oriented. |
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It is associated with probabilistic activities. |
It is associated with deterministic activities. |
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It is based upon a three-time estimate to complete an activity. \({t_e} = \left( {\frac{{{t_o} + 4{t_m} + {t_p}}}{6}} \right)\) Where, te = expected time to complete an activity to = optimistic time, tm = mean time, tp = pessimistic time |
It is based upon a single time estimate to complete an activity. |
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It usually doesn’t consider cost analysis. |
It gives importance to cost analysis & crashing is done to minimize the cost of the CPM project. |
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Applications: Mainly used for R & D project |
Applications: Mainly used for Construction project |
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