Question

Explain and illustrate the following terms:

Critical Path Analysis

Program Evaluation and Review Technique

Forward and Backward Passes

Slack Time

Project Crashing

Answer 1

Critical Path Analysis - Critical path analysis is the method used to calculate the minimum duration of the project as well as the amount of schedule flexibility on the logical project network based on relationship between activities and their sequencing.

Program Evaluation and Review Technique - PERT is the technique which is used to calculate realistic time required for completion of a project based on various duration provided for each activity (Optimistic, Most likely, Pessimistic) and their probabilities of completion and deviation if any.

Forward and Backward Passes - Forward passes and backward passes are used to calculate early start, early finish, late start and late finish of activities in project network.

Slack Time - The amount of time an activity can be delayed in called float or slack time

Project Crashing - The reduction in time of activities of the project using additional resources ultimately leading to reduction in overall project duration is called project crashing