In: Accounting
Explain how the critical path of a network is identified? What are critical path activities and why are they important?
The critical path method provides a structured approach to project scheduling, allowing you to identify the operations most important for successful project completion. You have to know how to break down your project into tasks and how to arrange them so you can find the critical path. Once you have identified tasks that are critical, you can focus on them to ensure that they don't delay your project.
Break Down The Work
Start by breaking down the project work into separate operations. An operation is a self-contained task carried out by one person, one group or a supplier, and one to which you can assign a duration and a responsible supervisor. Ask yourself what tasks must be carried out to start the project and what tasks are next. Continue until you reach the tasks that indicate the project is finished. Arrange the tasks in a list, approximately in the sequence in which you have to carry out the work.
Arrange Tasks by Prerequisites
You can start some tasks right away without completing any other work, but other tasks rely on prerequisites or work that has to be completed first. Draw a column of boxes on the left side of a sheet of paper, one box for each task that has no prerequisites, and write the name of each task in one of the boxes. Draw a second column of boxes with the names of the tasks that you can start when the tasks of the first column are finished. For each task of the second column, draw lines back to the tasks of the first column that are its prerequisites. Continue with additional columns until you have placed all the tasks on your chart.
Estimate Task Duration
You have to know how long each task takes before you can schedule your project. Estimate the duration by calculating how long it takes based on known unit quantities, the duration of similar tasks and estimates by suppliers. For example, you can calculate how long it takes to install 16 lights if you know it takes an hour to install one. You can look at other projects and how long it took to complete similar work. Supplier quotes usually include an estimated delivery time. Add your estimated duration to the task boxes.
Find The Longest Path
Your critical path is the longest path from the first column through the lines showing prerequisites to the last column. It determines the project completion date because you must complete all tasks on the path within the estimated time or delay the project. For small projects of several dozen tasks, you can determine the critical path by following each path and adding the duration of the tasks. For large projects, you can enter the data from the boxes into a project management software program and have it calculate the criticial path.
Critical path allows teams to identify the most important tasks in a project. But, if you’re a seasoned project manager working on a familiar project, you may have no problem pinpointing these critical tasks.
Here are three more ways critical path can make your project a success, especially if you’re using Smartsheet:
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