Question

What is the definition of Project Management? Using your own example, discuss project scheduling with the critical path method (CPM).

Answer 1

Project management is defined as the process of starting, properly planning, execution, control and closing of a work with the help of a team in order to meet company goals and specific success parameters for that point in time. The major constraint for managing a project is completing the project within the specific constraints of cost, time, efficiency, customer quality rating and resources.

Project scheduling with Critical path method (CPM)

The scheduling refers to allocating and timely execution of a process in a time-based manner. Using the CPM, we consider different nodes of a process with their process times and priority, and we come up with a path (from start to end) where the maximum number of nodes (maximum time) are being utilized in determining the total time of operation. For example in the diagram below, there are different nodes with their respective time of operation from start to end. The critical path consists of the path which covers the maximum time of operation. So, instead of 1 day or 3 days, we'll use the path of 4 days as the critical path.